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RE: The FOMO (fear of missing out) buying mindset. Is it the right mindset to have when Investing in cryptocurrency?

in #cryptocurrency7 years ago (edited)

Good comments. I started at about the same time although like you I had watched the investment class for a while. I only put a small amount in and recently had to re-balance because I hit my target % of net worth rather quickly. The nice part about that was that caused me to sell when everything was high a few days back so I am pleased with that. Now I have to wait for pull backs to invest more. Tax is becoming a good problem to have so I am switching the crypto investments into a self managed ROTH IRA. That way even when i trade pairs on a short term basis i am not incurring tax drag. That said I am basically a HODLer but at least like to have the option to trade with being taxed as ordinary income. Followed!

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