So, the adage goes, be careful with trying to catch a falling knife as you’re likely to get cut trying. The visual is vivid; grab a knife by the wrong end or side, and it’s going to hurt.

Well, yours truly decided to do just that recently. After watching the nonsense with Doge and its unexplainable groupie following to whatever Elon Musk burps or farts, it was inevitable that cryptocurrency was going to drop. However, I used the opportunity to simply liquidate an old position that had been bought around the 13 cent range and was sagging for months at the lower level. So, for me, despite DOGE hoopla, it was just breaking even. Ethereum, on the other hand, was another matter.

I’ve been tracking ETH daily, and got in a few positions when it troughed a few months earlier around 1100. So, watching it go from the 1350 level down to 1070 was a moment for me to get in. I think I ended up catching the knife at 1100 and 1115 on two purchases. And then, it percolated slight up. Okay, no problem, I can wait a while. No, it dropped on the FTX scandal and let go of everything. Seeing that red candle, I literally felt like emoji screaming meme and some bastert out there going “He pamped, sell it.” I clearly was on the wrong end of the knife and going to pay for it.

So, I did nothing.

When I woke up this morning, aside from giggling at the fact that my Banano (BAN) stash, which as doubled over the last few months to now 8,500 coins, is still only worth what it was when I started, I was pleasantly surprised that ETH restored itself. So, the knife did a 180 in mid-fall and went upward as hoped. Go figure. It’s also incredibly tempting to throw more into the pit, which I’m not going to do right now.

I’m just going to stick with…doing nothing.

In the above, I had the luxury of having some “disposable” cash to risk, so I could take the pain if it fouled up. However, Once that’s not available, the mistake comes in trying to follow up bad money with more money that you depend on, especially if you know you’ll need it short-term for obligations. This is when you really lose control and go into pure stupid gambling. It’s common, and it’s how the falling knife scenario claim so many financial victims.

At least this week, it turns out, I’m not one of them.