WARNING: Don't Fall In Love With Your Investments!

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Sports-Fans

If there is one thing in life that humans are very passionate about, it is sports. People devote their entire lives towards their club. They become emotionally attached to this club and become intertwined with the philosophy that belongs to it. Even though some people might not have a positive association with passionate fans, it gives a lot of positivity to a lot of people.

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Subsequently, this type of fandom is also noticeable in the crypto environment.

Crypto-Fans

One of the fatal flaws of beginning crypto-investors is that they emotionally attach themselves to their investment. And it's not that weird! This is their very first crypto-investment, there has been a lot of thought into picking the right currency and then you want your investment to do well. The subreddit r/cryptocurrency exemplifies this culture by allowing their users to have special 'fan flairs.'

 

So what is the problem with being a 'fan' of your investment? By becoming a frontrunner of your own investment, you are clouding your very judgment about what you have put your money in. Since you have put real money into your investment decisions, it is important to stay objective towards these decisions and by falling in love with it, you are no longer able to properly evaluate the elements of your crypto. Real criticism for your project will be disregarded as simple 'FUD' and if this criticism becomes to become noticeable in the valuation of your currency it is already too late.

Now, I'm not saying that you cannot be in awe of the technology of your investment, but all I'm asking is that you stay objective towards it so that you don't lose money. In order to become better investors, we have to keep an open mind to every event that happens in the environment and cannot have a half-sided view that favours our own beliefs.

So next time you read news that is relevant to your investments, try to have a more objective perspective towards it rather than that of a fan.