Thread by @CryptoAndGains1

Biggest bearmarket lessons (mistakes) I learned in 2018.

A thread. 🧵

Context: Got into crypto december 2017 and caught the last weeks of altcoin madness and the blow-off top.

First let me show some of the gains I saw in less than 6 weeks..

$XRP from $0.35 to $3.30
$ARK from $2.90 to $12
$TRX from $0.03 to $0.22
$POE from $0.009 to $0.21

I almost 10x'ed my money in UNREALIZED PROFITS in 6 weeks

Funny thing: as a beginner I didn't take profit AT ALL and believed that "this was just the beginning" as CT said..

Lesson 1: ALWAYS take profit, what goes up always comes down. 📈

Greed makes you blind, if you make +100% in a few days/weeks you better scale some profits out.

It is literally a WIN-WIN, hear me out:

If it does go higher, GREAT you make even more money on your remaining holdings to cash out🤑

If it goes down, GREAT because you de-risked and now have more liquid assets to deploy on greater opportunities🔍

‼️You may feel like you miss out on a lot of gains but remember this:

By taking profit on the way up you OUTPERFORM 90% of all "HODLERS" who are just going down with their bags. 📉

And no, not every coin will go back up in the next bullmarket as new trends and hype's appear. So this can be very painfull.

Lesson 2: Know when to start DCA.🧠

I started with DCA from the 2018 top when coins started their downfall because 🤡"WhEn It DrOpS yOu JuSt HaVe tO BuY MoRe" ..

This was an expensive lesson because guess what, If a coin is down -50% it can easily drop another 90% oops.🫤

So, Have patience.. in a bearmarket you can become a millionaire by just DCA'ing in fundamentally strong projects at ridiculously low prices,

Don't just throw in money at every downmove.. Wait for real capitulation (-75/-90%) and then SLOWLY start buying. You have a lot of time

Bottom line here: I still profited big in last bullrun from my 2018 DCA buys BUT i would have made at least 10x more if I played it the way i wrote it out here..

That's what it's about, not making the same mistakes over and over again. Progress.⏳

Lesson 3: Crypto Twitter isn't a good place to take financial advice lol. Educate yourself.

90% of CT is shilling their own bags and living on hopium by consistently posting bullcharts/cases. There is a reason they post NFA after every post because they don't know shit either.😂

However there is also huge value on twitter, find accounts who show you REAL RESULTS and see how you can learn from them.

No I'm not talkig about a paid call group, I'm talking about actually learning the stuff they do that makes them succesful. ✍️

Lesson 4: It's just money, you can always make it back.

I couldn't sleep for nights seeing my *unrealized* profits evaporate, but this was actually the best lesson of them all.. Over the years I completely detached emotionally from my investments.

Which makes it easier (read: still not easy) to make more rational decisions based on knowledge and experience instead of emotions (fear & greed).

So no matter how bad your situation may seem to be in a bearmarket, just stick around and keep you'll keep learning!💯

Lesson 5: Bearmarkets are a good time to focus (even more) on your health.

The first months were horrible as I kept hoping for prices to go up but after that you notice that in a bearmarket it's less hectic and you have more time for excercise/healthy food/better sleep..

In full bullmarket, I personally was more excited and nervous all the time, had less sleep, worked out less and had way more screentime.. This should be recognizable I guess? 😂

For my health, it was good a bearmarket appeared..

It made me clear that:
Health/Wellbeing/Family
IS WAY MORE IMPORTANT THAN
Investments/money

So never forget this.. There will definitely be a new bullmarket but don't forget to enjoy the bearmarket too 😉

Hope you liked this little thread!🤙

#CNFT #CNFTCommunity