Let’s be honest here!
I haven’t been much active in crypto investing and trading for the last couple of months; reason being my crypto investment percent has already touched its maximum limit and I cannot take more risk with my money. Moreover, my overall crypto portfolio return is ->60%. All thanks to me for being more greedy and not cashing out the profits at the right time and high volatility of the crypto market!
I am a Crypto Enthusiast and DEFI believer.
When I started my crypto journey, in May 2021 I was blown away with the kind of adrenaline rush crypto trading gives you. But as I matured in my crypto journey, I have realized many things which you may or may not agree with!
Crypto regulations in India are already undergoing many changes.
SEBI has recently suggested a ban on celebrities endorsing crypto investments. Government charging 30% tax on crypto gains is a huge turn off for crypto traders.
Terra/ Luna Fall have totally wiped off a big amount of money from the crypto market.
Some of the investors have already started doubting their crypto investments. There’s high fear in the crypto market. I was in blue reading the news of people doing suicides after losing their life savings to UST. This made me think about why we can’t always take calculated risks. What made those people put their entire money in that one stable coin (UST). Why do we become so greedy and forget the basics?
Though there are many conspiracy theories around Luna/Terra fall.
But if a stable coin like UST can become unstable in the crypto market and it further leads to LUNA going from ATH of 119$ to mere cents then, I am sorry as a crypto investor, my faith in the technology got shaken. And I consider myself lucky that I wasn’t invested in these tokens.
I support the concept of blockchain and cryptocurrencies. But, I feel it’s high time that we as a community of crypto traders and investors revise our basics and take mindful investments decisions.
Terra/ Luna Fall Lessons
- Never put all your eggs in one basket
- What happens matters but how you react to it matters more #DoKwon
- Crypto markets are highly volatile; invest only that amount that you can afford to lose
- There’s always light at the end of the tunnel: sometimes you win and sometimes you learn
- The best time to buy is when the markets are down \m/
You might also like reading: Top 3 Crypto Investment Mistakes I Made
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