Never heard of a frying pan before with regard to TA and thought cup and handle was it. We learn new things every day and what makes crypto interesting as the learning never ends.
What fascinates me is the amount of pressure investors put on themselves as they live and breath their investments. I have realised that many are all in on one investment and have not spread the risk around having multiple investments.
These accounts add to the entertainment as they are easy to troll by those looking o have some fun at their expense and they always fall for it. When you are desperate for your investment to do well and in a bear market it is a double whammy but we are all in this together which is kind of fun. Nothing has changed just the market sentiment and it will change again when the prices start climbing.
I was all in on Hive 2 years ago and had not diversified at all due to Hive being so time consuming with growth being the main focus. Being wrapped up in one project is not such a bad thing as you should in theory grow that much quicker.
I can remember others mentioning that it was important to diversify your portfolio due to projects growing at different speeds offering different dollar values. This made sense and why I eventually bit the bullet and started doing research looking for the next long term build. I knew whatever I would invest into next would take a few years to my philosophy of having a few decent sized stakes over many smaller ones.
The idea behind this is when these investments take off in value it will be a far bigger windfall due to the size and research taken place. I expect over a 10 year period my portfolio will only consist of around 5 crypto projects, but they will be larger bags than normal.
When you are looking for an income stream the bigger stake comes into play as they also help to fund and grow the other bags. This is part of the long term strategy that I have been playing around with and why I am so confident of achieving my goals. Over the nearly 6 years of being in crypto there has been not 1 cent taken out and that will remain the case until there is a sufficient income being generated.
Unlike most of everyone else in crypto I am slightly older and have to think differently to what my needs will be in 12 years when I reach retirement age even though retiring is not going to happen. Personally I enjoy work too much which is not a bad trait to have and crypto is just another challenge that I enjoy. The harder it is the more I thrive and possibly why I enjoy the Bear market so much.
Crypto is all about numbers which I actually enjoy as they speak to me due to them making sense. I am not one to follow trade analysis that others do as I don't see the point due to worrying more about growth and accumulation than dollar values. The longer this bear market takes the wealthier we all become and that is the most important part so there is no rush and the harder it is the more we all make.