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RE: Calm Down! A Few Thoughts about Investing and the Ups and Downs of the Cryptocurrency Markets
But I would also submit that you are a pretty seasoned investor-trader and know quite a lot about cryptos based on having been involved for a long time. In other words, you have wisdom and experience which you are putting to work... that's very different from tossing darts.
I do believe a lot of these wild swings are increased by newcomer investors who have just bought into the whole idea that "cryptos are a hot ticket" so they take their money and act on every FOMO rumor they see... and bail every time something goes down 20%.
As I mentioned above, I used to be day trader in tech stocks... and I just followed a handful, but knew them really well, which certainly allowed me to make some short term gains that most people didn't "understand."
It is my theory that unless you (as opposed to someone else or "society") pay for your mistakes, you do not learn from them and will most likely repeat them. I have learned from my mistakes :-)