Temped by a tasty short-term crypto yield? You could regret it as once it happened to me. There are crypto assets out there which are driven by hype promising some mouth-watering short-term yields that blows your mind. In such moments most of us are falling for it, while those more skeptical and analytical will understand that it is all too easy to bite. The truth is that succumbing to hyped temptations in the crypto space can be fatal when it comes to sustainable and long term growth of your portfolio. We all make mistakes, but it is important to learn from them, even try to repair or recover what we still can if we have the time for it.
Impatience selling
When market is stale for a long period it is easy for someone to give up or even decide to retreat from the crypto space by selling assets instead of holding. The allure of quick gains and the impatience bred by a lack of immediate returns can sway individuals to make hasty decisions, potentially missing out on the future upswings that often follow periods of consolidation. In the end the bulls are making money and even the bears are making money, while only the frighten investors are losing in volatile times.
Short term gains over long vision
Running after short term gains might work once or twice, but in the end it will bite us from the ass. The focus should be on the crypto portfolio and capital growth on volatile assets, as well as income through stablecoins staking/saving revenue. Aiming for growth plus yield is the way to go in order to evolve the portfolio in both bull and bear markets.
Hyped market sentiment in the bull run
We all've been there in bulk markets and All Time Highs when we felt that only the sky is the limit and not even that. Watching the value of the portfolio, we are tempted to still invest in new crypto tokens as if the money printing will never stop. Wrong!
Giving up at worst possible times
When market is down most of us lose faith in the crypto industry and simply ignore it until the better tides return. This is quite wrong and the smart people accumulate the most and make Richie's in this time.
While probably I went through all of the above mistakes, one that made me change my behavior is worth mentioning. Before the previous bull run and while the market was still low, I have lost patience and sold all my Ethereum stash which occupied the biggest portion of my portfolio. I was gathering ETH for more than 5 years at that point and I've even mined some with a self built rig. And do you know that I've done next? Well, in less than one hour I've bought it all back at a small loss. And I promised myself not to ever do that and I kept the promise since. And in addition to that I have become a real HODLer until this day and probably I will continue to do that until the next All Time Highs will be reached.
Posted Using InLeo Alpha
