I can't say I understand crypto very well. But people I trust seem to. So I jumped on the ride towards the end of last year.
Since I had no clue what was what, I put a little money aside to buy things I felt may go up.... no deep analytics involved at this stage - or ever.
Then I experienced excitement, fear, doubt and anxiety in extreme proportions in the months that followed.
In May of 2021, when things went down very aggressively, I did what a lot of people are told not to do. I sold at a low. I didn't want my balance to go to zero. Everything was red. And I gave in.
Since then, crypto is slowly coming back. Bitcoin has passed its all time high and the prediction for this year is beyond $100K.
I don't know if I believe the hype. But what I did with my little money, was find the cheapest coin being offered and bought a small amount with it. The name of the coin - SHIB. It cost me 0.000008 cents to buy. Today, the price of SHIB has gone up by 10x to 0.00008. The thought that came to my mind was - what if I had put in $100,000 (I don't have that type of money btw) - then I would have a million. I could have retired. I could have done all my business ideas.
Anyway - I stop myself from this fantasy and realize that a lot of people probably did what I did. After the bleeding in May, people may have gone for the cheapest coin. So it went up. It is likely it will come down as aggressively as it went up. Time will tell.
Since I had no clue what was what, I put a little money aside to buy things I felt may go up.... no deep analytics involved at this stage - or ever.
Then I experienced excitement, fear, doubt and anxiety in extreme proportions in the months that followed.
In May of 2021, when things went down very aggressively, I did what a lot of people are told not to do. I sold at a low. I didn't want my balance to go to zero. Everything was red. And I gave in.
Since then, crypto is slowly coming back. Bitcoin has passed its all time high and the prediction for this year is beyond $100K.
I don't know if I believe the hype. But what I did with my little money, was find the cheapest coin being offered and bought a small amount with it. The name of the coin - SHIB. It cost me 0.000008 cents to buy. Today, the price of SHIB has gone up by 10x to 0.00008. The thought that came to my mind was - what if I had put in $100,000 (I don't have that type of money btw) - then I would have a million. I could have retired. I could have done all my business ideas.
Anyway - I stop myself from this fantasy and realize that a lot of people probably did what I did. After the bleeding in May, people may have gone for the cheapest coin. So it went up. It is likely it will come down as aggressively as it went up. Time will tell.
