01-06-2021, 11:40 AM
Things I learned from the 2018 crash
<!-- SC_OFF --><div class="md"><ul> <li>Cryptocoins are volatile but not "that" volatile</li> </ul> <p>It still <strong>feels</strong> all of that shit happened in a few days. But taking a step back and checking coinmarketcap history, it happened in the span of months. Don't let your greed, fear, hope or whatever make your decisions for you. Or worse, keeping you from making decisions. Relax, not every second counts.</p> <ul> <li>A rigid strategy is not a good strategy, especially HODL</li> </ul> <p>You don't have to buy a coin with all your money, watch it triple and then dwindle to nothing while you twiddle your thumbs. You also don't have to throw money at every 5% green coin then panic sell when you see red. Have a solid but a flexible strategy. An easy choice is dollar cost averaging. I know It's mind numbingly boring but making money usually is.</p> <ul> <li>It's easier to spot bad coins than pick good ones</li> </ul> <p>I won't name coins but these are easy red flags to notice: gets shilled everywhere, sued by the government, developers have exit-scammed before, developer is a scam-artist, coin name tweeted by an insane anti-virus guru, coin is based on a fucking dog meme etc. </p> <p>Picking good ones is harder because markets are irrational. A good development team, partnerships, use-cases etc. may not result in a good market performance, especially in the short term. Do you research either way but never solely from the coin's subreddit, forum etc. These are ecochambers.</p> <ul> <li>History repeats itself, until it doesn't</li> </ul> <p>I know, ironic. But hear me out. A coin being 1% of it ATH doesn't mean its likely to raise hundredfold next week. It only tells you that it has the potential to both raise and fall HARD. Either way, this doesn't happen in a flash. Watch the market and don't rush.</p> <ul> <li>Don't take your advice from anonymous forums</li> </ul> <p>Again, ironic. Research is essential but places like reddit have very high noise/info ratio, especially because of the anonymity. The awesome comment that makes you throw all your money on a coin may be posted by an 8 year old for all you know. The other side of the coin is "experts", they are usually full of shit too but at least it's easier to filter their bullshit. </p> <ul> <li>Last of all, don't spend your life savings on crypto and never gamble with borrowed money</li> </ul> <p>Pretty self explanatory I guess. Remember, even wallstreetbets autists doesn't touch this shit.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/shorty_short"> /u/shorty_short </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kr87qt/things_i_learned_from_the_2018_crash/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kr87qt/things_i_learned_from_the_2018_crash/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><ul> <li>Cryptocoins are volatile but not "that" volatile</li> </ul> <p>It still <strong>feels</strong> all of that shit happened in a few days. But taking a step back and checking coinmarketcap history, it happened in the span of months. Don't let your greed, fear, hope or whatever make your decisions for you. Or worse, keeping you from making decisions. Relax, not every second counts.</p> <ul> <li>A rigid strategy is not a good strategy, especially HODL</li> </ul> <p>You don't have to buy a coin with all your money, watch it triple and then dwindle to nothing while you twiddle your thumbs. You also don't have to throw money at every 5% green coin then panic sell when you see red. Have a solid but a flexible strategy. An easy choice is dollar cost averaging. I know It's mind numbingly boring but making money usually is.</p> <ul> <li>It's easier to spot bad coins than pick good ones</li> </ul> <p>I won't name coins but these are easy red flags to notice: gets shilled everywhere, sued by the government, developers have exit-scammed before, developer is a scam-artist, coin name tweeted by an insane anti-virus guru, coin is based on a fucking dog meme etc. </p> <p>Picking good ones is harder because markets are irrational. A good development team, partnerships, use-cases etc. may not result in a good market performance, especially in the short term. Do you research either way but never solely from the coin's subreddit, forum etc. These are ecochambers.</p> <ul> <li>History repeats itself, until it doesn't</li> </ul> <p>I know, ironic. But hear me out. A coin being 1% of it ATH doesn't mean its likely to raise hundredfold next week. It only tells you that it has the potential to both raise and fall HARD. Either way, this doesn't happen in a flash. Watch the market and don't rush.</p> <ul> <li>Don't take your advice from anonymous forums</li> </ul> <p>Again, ironic. Research is essential but places like reddit have very high noise/info ratio, especially because of the anonymity. The awesome comment that makes you throw all your money on a coin may be posted by an 8 year old for all you know. The other side of the coin is "experts", they are usually full of shit too but at least it's easier to filter their bullshit. </p> <ul> <li>Last of all, don't spend your life savings on crypto and never gamble with borrowed money</li> </ul> <p>Pretty self explanatory I guess. Remember, even wallstreetbets autists doesn't touch this shit.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/shorty_short"> /u/shorty_short </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kr87qt/things_i_learned_from_the_2018_crash/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kr87qt/things_i_learned_from_the_2018_crash/">[comments]</a></span>Kind Regards R