The Value of Patience in Crypto Investment
I've been in the cryptocurrency market for almost three years, and one of the most important lessons I've learnt is that patience is the sole key to our success.Today, I am completely regretting all of the decisions I have made over the last three years. When Bitcoin was at $18,000, I invested a lot of money. But what happens when I don't have enough patience and am afraidI sold for a modest profit, believing that the BTC bubble would burst and the price would fall, and I planned to reinvest when the price settled, even if it was low.
Similarly, I made a tremendous error by investing $500 in XLM when the price was about 0.1, but owing to fears of a war between Israel and Iran, I chose to sell my position and rebuy when the price is even at 0.05.That never occurred, and today XLM is trading at roughly 0.55 cents, over six times the price at which I planned to invest.This is one of the
undamental lessons I learned: patience is the key to success.If you are a prudent investor, you should invest once and hold until the pinnacle of the bull run.
It is not beneficial to regularly review short-term charts such as 15-minute, one-hour, and four-hour time frames. All of them are manifestations of anxiousness, which will exacerbate our mental state.It's always best to zoom out and see the larger picture.We must consider both the weekly and monthly time frames while investing. This will allow you to invest with more confidence.If you have cash and want to invest, I propose investing in your preferred currencies and not paying attention to the news or rumors; instead, focus on your objective and wait for the price you want to sell at.
This will happen and that is how this market runs.