Have you ever been in the position where you are on a bank ATM queue, there are two lines, you are on one of them, but you notice that the next line is moving faster than to line. Your line is moving but the progress is slow, because people are either finding it difficult to operate the ATM or they are withdrawing far more than expected. All of a sudden you decide to switch to the next queue because you are in a haste and can’t wait to leave that position.
You switch to the next queue and start feeling better, unfortunately the new queue gets stuck because there isn’t enough funds to dispense, so everyone has to go to the other queue that you just left. But you can’t request for your position back, so you have to go back to the queue, and guess what? The queue is longer now, you have no other choice because you need the money so badly. So you stay, remember the queue was long before you left initially, now it’s longer because people on the other queue have moved to the only functioning queue.
People that were behind you in the queue initially have withdrawn because they stuck with the queue, now you are far behind hoping the money in the ATM doesn’t finish before it gets to your turn. You are in this position because you weren’t patient, you couldn’t stand the slow progress because you were focused on the other queue with fast progress. This can be related to the crypto game and investment, you are invested in a crypto project unfortunately they are having a slow progress so you are busy comparing the progress with another project.
In investment patience is always more important than other decisions. After making your research and investing, waiting is the next thing to do. Lots of people are impatient with investing, they might get out of an investment because they don’t feel interested anymore because it’s uninteresting now. Some people can quit for the most unserious reasons, it has happened before and history will always repeat itself.
Some people might quit it now because it’s uninteresting and the hype is not there anymore, then plan to come back when the hype is back, forgetting that the market and the cycle doesn’t care about them. When they come back in the next cycle, unfortunately it would be too late, they will just have to spend more to get less crypto.