No Pressure Do Not Mess This Up
Being involved in crypto these days is an opportunity not to be missed with each month we have been involved adding to the stack. Besides being fun crypto should also be rewarding and we need to make this time count. Each day that passes should all be about getting ahead of those that are not in crypto yet and we know will be involved in the future.
Anyone who has been involved in crypto for one or two cycles or even longer should have some decent value against their name even if they never sold at the ATH's and bought back cheaper. Actually those that did that should have a decent portfolio with some serious dollar value. Those like myself who rode it all the way up and down again will still have dollar value because of the accumulation via staking that takes place continuously.
One has to always keep in mind most households have very little disposable income these days and very few work on the 50/30/20 rule with 20% going towards investment or paying debt. According to the latest debt rescue figures of households reaching out for debt relief the average household is spending 64.5% of take home monthly pay on debt. There is no disposable income and hence the vast majority are merely in survival mode and in no financial position to even consider investing.
I have never understood the concept of helping you get out of debt by lending you more money which only increases your overall debt.
The $200 or $500 or more we are accumulating each month adding to our bags is widening the gap between those that have and those that do not. The scary and exciting part this is happening when crypto prices are at the bottom of the cycle so these values will rise significantly at some point in the future.
No one should be selling any crypto at this time no matter how bad things might be financially because this would be a wasted opportunity. If you are poor now and selling the reality is you will not be able to take advantage of the bull cycle when it appears and will remain poor. This I think is the frustrating point because many do not see this yet it is that obvious.
Personally I do believe one can change their fortunes for the better through staying active through two complete crypto cycles which would have been a mere 8 years which has now been extended. It may now be 10 years yet that does not seem that long a period to turn your life around.
The being early is one thing and the real important part is making that time count not wasting it. Over the last 8 years I have seen my portfolio values peak at over $250K and then drop down to the $25K range, but each month that value is still being added to. This $25K number is still $25K more than those who are not yet in crypto and is still a significant advantage knowing most households are riddled in debt.
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I still really wish I could get the last cycle back to do over. It would have made things a whole lot easier this cycle.
True but you also learned so much by doing what you did.
I have plenty in crypto, unfortunately most crypto I have doesn't let me accumulate like Hive does. My main positions are Etherium Bitcoin and Solana.
Consistency is definitely key. Being 'early' isn't just about when you join, but about staying involved and adding to your position every month like you mentioned. It’s a marathon, not a sprint.
First cycle I've missed completed, second cycle I took 5% profits, third cycle I pushed that to 50%... I wonder what the fourth cycle will bring....
Thanks for remember to us this advices.
All of your suggestions and talk is correct. The scary part to experience is what you mentioned with your portfolio's value going up to $250K and then got back to $25K. It keeps stinging you. Of course, we have to what you said here, nonetheless, if we want to change future financial state.
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