At the beginning of the year 2025, the price of Hive was very okay; it was around $0.4 to $0.5. Towards the end of January, I remember clearly that I was in church in the evening when I saw a message from a friend. She was informing me about the fall in the price of Hive, which we had already agreed would be a good opportunity to buy more. We believed that once it fell, it would surely pick up again, even to a higher price, at least $1.
So I bought some using a good amount of USDT from my Binance account, hoping to double that amount when the price of Hive finally went up.
Guys, that was the biggest risk I took last year. Although when I made the trade, I did not expect to need the money anytime soon. I was very much convinced that no matter how the price of Hive fluctuated, I would leave it for at least a year before even thinking about using the money(Ohhh! It really stayed more than a year😅). Little did I know that the need for money would come so inevitably within this long period that appeared to be short and I regretfully sold off the Hive at a heartbreaking price of $0.116, which was far lower than my buying price of $0.33.
Normally, if the risk had worked out positively, it would have been a big hit. But there are no worries too, because taking risks comes with a 50/50 outcome.
Would I still take such a risk this year?
I will not lie, one of the things that makes me reluctant to get into crypto trading is outcomes like this one. It really hurts me to see the money I used to buy a coin drop deeply, and then I still have to withdraw it at such a loss because I am in need of money. Yes, I know it is advised that people should only invest money they can afford to lose in crypto, but in this era, every single amount of money is treasured, except for people who have it in excess.
Nevertheless, when I have enough, I would not mind investing again, but this time within a very calculated range. What do I mean? Just like the current stage where the price of Hive is very low, I can confidently say that this is the best time to invest in it, not the wrong timing I used earlier in the year. Investing now will surely yield a positive result by the end of the year, but the money used must be money that will not be needed for a long period — spare money.
Thanks for reading.
This is my entry to Week 198, Edition 03 of the Weekly Featured contest in Hive Learners Community
The image used is a screenshot from my Binance account
