Crypto Investment are full of surprises. Who would have expected the price of BTC to touch by $19k (approx) today after the last fall, which put the digital currency to a low of $3k (approx) in March 2020. The bull run thereafter is enormous which might have made many wealthier.
The year 2020 also saw many bigwigs millionaire like of Paul Tudor, Business Intelligence Firm Microstartegy, Stanley Druckenmiller, MassMutual, Jack Dorsey's Square etc picking up their stacks of Bitcoin. During this course of time, I also learned two major lessons of owning Crypto.
- FOMO : (Fear Of Missing Out) In the beginning, i was not aware of these crypto terminology, but watching the market and spending few quality hours with crypto exchanges, helped me to understand its meaning. It true owning BTC at any point of time is always a gain. There is not much loss and looking at such big millionaires stacking their part on BTC, I would surely belive, there is no fear of owning Crypt especially BTC. It is rightly been said:
the smartest people in the room, buying bitcoin quietly.
- HODL : (Hold On for Dear Life) I never understood the importance of HODL, the common terminology used in case of owning any crypto. But when if you have crypto, you must learn to HODL, which simply means to "buy and hold". As an investor, we must not get hurried to our investment and must give it time to grow. Major crypto likes of BTC or ETH are always considered to be a lo g term gainer. Holding the investment for a lo get time would surely give a good return rather than selling it in quick time.
As of today, it is expected that BTC may get past Gold market cap, though it is too far to get to that level, but looking at the race of big millionaires liking on crypto, the day won't be to faar to get to that level.
- Cash is Trash : Keeping your money idle at bank is not worth until, it get you a good return. Investing in Crypto is good way to make your real worth. Many crypto.enthusiast belive the recent run up of crypto prices is mostly because of the big instructional influx and their interest of owning BTC. This soar the btc prices above $19k. It makes many hopeful to see ATH and btc getting pass $20k.
Well, its not too far as markets were quite hopeful of seeing BTC in green. They already get pass the beet run and now want to get on top of bull to run to the top. Looking at all the assumption and enthusiasm, it is not to late.
disclaimer. all investment are subject to market risk. Views shared on this post are my own understanding