I have only been actively invested in the crypto space since August 2017. This has, to put it mildly, been an extremely steep learning curve -- with many lessons learned!
One of the lessons I have learned, is not to over invest in the cryptocurrency space. Initially I invested every spare penny that I could. The bull run at the end of 2017 added fuel to the flames. Things were great and my investments were growing exponentially. What could go wrong?
And then January 2018 happened. I saw the value of my portfolio plummet. Stress set in! It was around this time that I realized that I had invested most of my savings in cryptocurrencies, leaving me with little or no financial backup should something go wrong or I was faced with an emergency.
The stress deepened and I wasn't sleeping well. I decided to finally discuss this issue with my wife and together we decided to cash-out our initial fiat investment in crypto (I apologize to all the avid hodlers out there). As my initial investment had still grown substantially, I was still left with half of my crypto portfolio.
My bank balance was healthy again. The stress was gone and I still had half my crypto portfolio. So, now I sleep well and am not affected by the extreme volatility in the crypto markets. I don't react with as much emotion and am more level headed.
So, the lesson I have learned: avoid over investing and avoid stress.
I hope you have enjoyed this content and please feel free to comment below.
Spirit :)
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Thank you!
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https://steemit.com/dtube/@mrm-aceh/r7fqh2j7
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Thank you for sharing!
I have only 7 simple rules, but, they have been time-tested in many investment areas:
https://steemit.com/trading-rules/@freedomshift/7-rules-for-trading-investing-hodl-virtual-assets-aka-crypto-currencies
Please let me know if I can help.
All the best!
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Great - much appreciated!
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