Yesterday, I offered a very short and not very serious take on the crypto market crash. My overall sentiment was "Yay! I can buy more STEEM Power!" In the past 12 hours or so (while I was sleeping?) I've given it some more thought. My reaction hasn't changed, but my understanding of why I have that reaction has. Watching crypto prices over the past three months has caused us all to mutter the words "if only ..." countless times. If only we had known prices would get so high, we would have bought more. It's irrational, because no one can see the future. However, the current sell-off has given us a small reset. You know that 30 seconds back button on your DVR remote? It's not a full rewind, but it's enough. We now know that Bitcoin can approach $3,000 and Ethereum can approach $400. Many of us felt fairly certain of these facts before, but now we've seen it with our own eyes.
I made small profits on each, but it just eats away at you knowing what could have been. And the fact that it's irrational to think that way makes it all the more frustrating. I'm a data scientist. I hate thinking irrationally. So this reset is as much a mental thing for me as a financial thing. I have no guarantees about how it will turn out, but i'm doing things right this time. I'm buying heavily, and then i'm walking the hell away and forgetting about it for the next couple years.
All of the casual investors piled on as crypto prices were spiking. Now they're all pulling out as it falls. Now it's just us. The process will repeat, but this time we know in advance. So don't be caught saying "if only ..." again. All you can do is make the smart decisions, and trust the process. If you miss it this time, you've got no one to blame but yourself.
Let's get it out of our systems. Which investments do you say "if only ..." about? Feel free to vent.
