( Please excuse my poorly photoshopped pic of me expressing panic. Also if you are looking at my dumb face and want to punch it, you aren’t alone. I promise. I’m not even mad. )
I still think that the crypto world is in its infancy realitively speaking but I also feel I got in later than I should have. I meant to get in early...I just delayed. I was unsure. Scared. Stupid. Busy. The list can go on but you get the point.
I finally jumped on at the advice of my friend Justin in November. I just bought a couple grand in Bitcoin when it was around the mid 6000’s. Alt coins were still a distant dream I wouldn’t touch until January.
I felt like a warrior as I watched BTC rise daily by leaps and bounds. My buddy gave me some tips on Alts he was doing well with. I then got real involved. I watched videos, read white papers, looked at marked caps and circulating supplies. I enjoyed learning and absorbing as much as I could. We weren’t investing in shitcoins we were looking towards the future with viable projects involving data management, AI, and finance. Companies that had great teams behind them with bright minds. I felt great as I watched INT shoot up to over a buck. BQX to over $12. SPHTX was killing it along with almost all of our picks. The market cap was over 800 billion and I was looking forward to hitting that 1 trillion. I thought it was going up forever.
Then “January” happened. Things started to slowly dip. Then more. Then everything tanked. For months. My plan was to hold no matter what for at least through 2018 and re assess then. I was to make no moves or sell through this year. I got calls and texts from my buddy on the truly rough days. “You didn’t sell...please tell me you didn’t sell?!?” He yelled through the phone one horrific morning. “No...I’m holding steady” I replied...worried but constant.
I asked him if he had been through something like this before and at first he said yes to a degree. A few of the folks who I follow on Facebook that I respect, folks that have been in the gane a while...they were pretty calm and chill for their portfolios dropping 50-70% in a month or two. But they just strengthened their positions. Held strong while the weak hands were weeded out. Seeing investors who have gone through this before remain level headed and just remaining confident helped me get through my first tanking. That helped, along with ignoring my Blockfolio for weeks at a time. I was down 76% at the worst point. That was just several weeks ago. I’m still down but only around
15%.
I got about 5 of my friends to get involved. I just learned a couple of days ago that one sold everything at a huge loss. He was panicked. The rest held strong. I’m proud of them. They didn’t have a ton in but still, I’m happy that they shook those weak hands and didn’t let these past few months get the best of them.
I feel as though next go around I’ll be better prepared. Maybe to see the signs a bit more before or as it’s happening. To have some reserve fiat or funds to invest for emergencies or killer deals. I’ll definitely be able to handle it better next go around, and there will be a next time.
Either way is, It’s coming back. I’ve been able to strengthen my positions in a few spots and get into a few new projects. The thing is, none of the projects I’m involved with have changed. They are still the same. I got involved with them for a reason and I still believe in those reasons. Bull or bear. I’m confident that in a healthy market, I’ll be happy with the decisions I’ve made. Is the market finally turning a corner? I don’t know. Possibly. I’d like to think so. I’ve seen less Fud the last month which is great. So I’d like to believe it’s heading for another bull run soon but either way, I’m just gonna sit back and remain calm. Eventually I truly believe that these decisions will bear fruit and when it does...it’ll taste Oh So Sweet!
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