2017 was my first year trading and investing in cryptocurrency and when the market started moving in the high direction, I thought it would continue like that. I bought some coins and tokens at an all-time high because I was inexperienced. I saw myself as a Rich dude and later lost the entire wallet to bad coins. I sold some that were left out of anger and I was the idiot from the market.
In 2021, I started investing back in crypto and I made some thousands of dollars I learned from the previous bull that it is important always to take a profit and so did. I took some profits and invested in other lucrative businesses. However, I still left some amount of money in coins that did not have a long-term value so some wallets that were $1,000 turned to $10 and others.
The Lesson
It is 99 days to the Bitcoin halving and we will start seeing some big moves in the market from February. A lot of people expected a significant drop of coins before the end of last year but the move was partly stable which shows people are holding coins for the next bull.
As you are investing and holding for a long time, it is essential to know when to take profits and keep other investments left in coins with long-term value. It is imperative to have your trading Philosophy. While meme coins can turn your $10 to $1 million, it is important to put only the little you can lose in them.