I first heard about bitcoin within the last quarter of 2013. It was just too unstable for me to invest. It kept crashing and rebounding. One bitcoin was worth about nine hundred dollars at the time, before stabilizing at around six hundred dollars. I was told it was worth less than a hundred dollars at the beginning of the year.
Which coin was you first investment?
I've always being a skeptic when it comes to accepting something new. I live by the code; "look before you leap." I tried to observe how it works, what influences the price and how long it was going to exist. During this period, I also learnt a few things about the PoW protocol.
I dismissed every thought of crypto investment at the time. I kept telling myself that it was 'unreal' and that I should focus on what's real; treasury bills and agro investments. I thought bitcoin would crash in March 2015. When it recovered, it became clear to me that bitcoin is here to stay. Then I did a research on when best it was to invest.
I bought 0.357.... btc for $250 in the third quarter of 2016. I chose btc over ether because I have known btc the longest. Ether was barely a year old at the time, anything could happen.
How did your perception of crypto changed over time?
I can understand why some steemians worry about steem current price. Inexperienced me would have done the same. I have come to realise that crypto and stocks are extremely alike. It would always have ups and downs.
One has to be detached from emotions when involved in stuffs like these. The moment you let your emotions get the best of you, the moment you make an avoidable mistake. Panic buys and sales usually lead to regrets.
I'm not an expert yet, as I still have a lot to learn. I don't regret not buying btc earlier. It gave me enough time to study the market. My only regret is not selling btc last bull run in December, with the intention of buying with it experiences correction. I would have made over 24times my capital. Instead, I kept smiling at its new worth.
I plan to implement this lesson in future events. Arbitrage is the key; buy low, sell high. To minimise risk, don't sell all you have, and don't sell at once; sell in stages. During lows, repeat the reverse of the procedure.
Say no to panic sales! This is the best time to buy.
Image source: pixabay.com
