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- Oct 6, 2023
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Haha I WISH I had a month to decide what to do and better analyze the situation. My 2 biggest winners, Safemars and Mononoke, the peak you saw them at they were only there for a couple hours at most, not even 1 full day. As soon as it reached that level, a bunch of people and big holders started selling and since new buyers stopped investing, it just didn't recover.Angel investing is the same as investing in crypto?
If you had only sold your crypto anywhere between 50% and 100% of its peak. I mean you had a wide wide range to exit. It's not like your crypto shot up for 1 hour and you had to decide quickly. If I remember correctly, you probably had a month or more to decide to sell.
The biggest difference in investing in a company and crypto is that there is a business running under that company stock.
And yes, I also understand that a stock can go from $100 to $10 in a day. There are similarities, but there is underlying value in most stocks.
This here is your lesson, you applied Warren Buffett's logic to something completely unrelated to his philosophy. Crypto isn't the same as stocks. The stocks that he owns do not have large swings and he's purchasing based on their value. Crypto's current value is literally the price it trades at.
I only had a long time to decide what to do when the market was neutral in Q1 of 2022, but having went from 10m ATH to ~2m, I wanted to get back to 5m at least and tried my best to do that in the first few months which didn't work because the market wasn't as bullish as the year before, and after realizing I was just wasting my time with that, I told myself I was 100% going to cash out the 2m a few weeks before the big May downfall, which was very unlucky.
But anyways it is what it is, you live and you learn. And I'd rather learn such tough lessons while I'm still very young than if I was older and had a family/kids.
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