I fucked up with crypto

[StarStruck]

I had 10k invested and I thought it would boom but I was kind of foolish and naive listening to youtubers who were pumping "hope-ium" for their own views. So I lost about 4k. It is expected this year will be a big bull year so I will definitely earn it back this year but the thing is that I'm also running a business and I'm afraid to pull it out of my wallet and use it for my business because I'm afraid I will miss the train. The lesson I learned is that I shouldn't use business money for investing but people who were pumping crypto news were so convincing that I got mesmerized. I learned my lesson now.

Now I have basically two options

1. Keep the money in crypto so I'm sure I won't miss the train
2. Take the money out and use it on my business

With my business I made about 1k per month and I don't depend on this money because I have a real job beside it. I feel so stupid because I would be so much richer if I kept my business running on the side instead of pulling all the money out and making a quick buck. My intention was to make good amount of money so I could have a bigger business.

[ZenAlex]

I don't see how people couldn't see this exact thing happening.

[josemar]

When  and in which crypto did you invest, did you not catch the btc 3x or solana 15x this year???

Hope you didn't invest only in meme coins...

Or are you talking about the 15% pullback in the last week... If you're shaken up by a 15% retracement, you've invested more than you can afford...

[StarStruck]

@josemar I didn't invest in BTC or SOL... I invested in ADA, HOOK, LTC, XRP, DOGE and some others

 

[josemar]

Ah jeez...Why not bitcoin?

For better advice on crypto, check out on youtube Benjamin Cowen for a slightly bearish but realistic view, and InvestAnswers for a more bullish view (don't buy IA's SOL alts, he has a different financial situation and goals to you).

[FourCrossedWands]

Crypto is a trap. Do yourself a favor and put your time/money elsewhere. The future you will be very happy with the decision.

[Thought Art]

You have no idea if it’s going up or down

[Leo Gura]

It's hard to say. I also lost some money on crypto but it's recovered a lot now.

Of course the only crypto I would hold money in is Bitcoin.

It might be wise put your money into solid stocks instead. But the market is up a lot right now so not the best timing.

Edited January 22 by Leo Gura

[AerisVahnEphelia]

 @Thought Art it's going down.

 

When a tech work, it doesn't takes 10 years to work : source : observing reality.

if a crypto was useful, it would be useful instantly, not in 20 years.

Once all the gamblers will be tired on this toy and find a new one, this one is over.

[josemar]

3 minutes ago, AerisVahnEphelia said:

 @Thought Art it's going down.

 

When a tech work, it doesn't takes 10 years to work : source : observing reality.

if a crypto was useful, it would be useful instantly, not in 20 years.

Once all the gamblers will be tired on this toy and find a new one, this one is over.

Rarely has a more sure opinion been uttered with such ignorance.

"It's going down"... Wow you're a genius!

Remind me in 18 months 

Ps. Bitcoin only ,

There is no second best.

[Meliodas]

12 minutes ago, AerisVahnEphelia said:

When a tech work, it doesn't takes 10 years to work : source : observing reality.

if a crypto was useful, it would be useful instantly, not in 20 years.

not true 
many formulations in science happened way before in theory before they were implemented in reality. 

[josemar]

Also, price going down? Making money either way.

[StarStruck]

So I decided to put my money in my business again (wholesale business). In two weeks I will get the money back plus ROI, and I can put it in crypto again. I don't want to miss the train. If crypto booms in the next two weeks I'm going to throw myself from the balcony.

In the mean time I'm going to study the shit out of technical and fundamental analysis. The biggest lesson I got out of this fuck up is that you have to know your shit.

They say BTC will drop to 36-38k range. I want to jump into BTC at this price point. So I hope the dip won't happen in the next two weeks. They say the real bull run will start in April but nobody knows.

Edited January 22 by StarStruck

[Leo Gura]

@StarStruck Your investment time horizon is too short. If you invest in a good thing you should be able to stick with it for at least 5 years. If you can't do that then what are you doing?

[Jowblob]

5 hours ago, StarStruck said:

@josemar I didn't invest in BTC or SOL... I invested in ADA, HOOK, LTC, XRP, DOGE and some others

 

Bad investment in old high cap coins that have been pumped and dumped during bull market, you never gonna make money like that. You're just a gambler

Edited January 22 by Jowblob

[StarStruck]

1 minute ago, Leo Gura said:

@StarStruck Your investment time horizon is too short. If you invest in a good thing you should be able to stick with it for at least 5 years. If you can't do that then what are you doing?

Bull year only happens every 3-4 years in crypto. So this year and maybe next year will be explosive and after that it will slowly consolidate again. Real profits are made in the bull year. I know people who are in crypto 3 years and they haven't made a buck because their entry point was bad. My mistake was too high of a leverage and I put my money when the retrenchment happened.

[Yimpa]

10 minutes ago, Leo Gura said:

@StarStruck Your investment time horizon is too short. If you invest in a good thing you should be able to stick with it for at least 5 years. If you can't do that then what are you doing?

Watching YouTube Shorts.

My partner loves that kind of content, but I will invest in our relationship anyway. Our differences create a beautiful relationship.

Edited January 22 by Yimpa

[Leo Gura]

29 minutes ago, StarStruck said:

Bull year only happens every 3-4 years in crypto. So this year and maybe next year will be explosive and after that it will slowly consolidate again. Real profits are made in the bull year. I know people who are in crypto 3 years and they haven't made a buck because their entry point was bad. My mistake was too high of a leverage and I put my money when the retrenchment happened.

This is not investing, this is trading.

If you don't wise up you'll be in a world of hurt.

You still haven't learned your lesson. I'm trying to help you here.

Edited January 22 by Leo Gura

[StarStruck]

5 minutes ago, Leo Gura said:

This is not investing, this is trading.

If you don't wise up you'll be in a world of hurt.

You still haven't learned your lesson. I'm trying to help you here.

Ok, so you are saying I should do long term trading only?

[Leo Gura]

1 minute ago, StarStruck said:

Ok, so you are saying I should do long term trading only?

Not trading. Investing.

Investing means you place your resources into a thing that has massive long-term value.