This may sound counter-intuitive to some, but things like hard work and great ideas rarely will get you ahead in life. The same applies to bitcoin investing. Here are 3 "Bad" traits that will get you toward your financial goals in the Cryptoworld and beyond.
Have a Bad Memory - I recently popped open an old Etrade account that I had forgotten about. I found that over the course of 3 years, my shares had doubled in value! (Not a bad return by stock market standards). This would never have happened if I were actively managing it and trying to "play" the market. In investing, patience and inaction are your friends.
Get Lazy- Everyday I talk to Bitcoin Miners who are day-trading their bitcoins and making special charts to try and time the market. They take all of their mining profits and buy more hardware on occasion, but usually blow it on pizza and beer with their friends.
MARK MY WORDS... The people 5 years from now who make the big money in bitcoin are the ones who buy some bitcoin and do NOTHING. I say it all the time, but investing is a long-term game, and the real money is in patiently holding through the ups and downs.
- Get Dumb- Bitcoin might be new, but investing isn't I can assure you that. The folks who read every news article and panic trade will rarely get ahead. If you can be smart enough to buy some bitcoin and then never read another word about crypto again for 5 years, I'm willing to bet that your returns will be incredible.
I hope this helps some new crypto folks start to get ahead financially. If you liked the article, let me know your thoughts!
Nice post I know what you mean when you manage your portfolio of shares or cryptos or whatever you are trading when you pay alot of attention to it you make a lot of emotional trades and normally thats where you lose out
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