Do you still remember the "good old times" when Bitcoin seemed unstoppable on it's way to the moon? I have to admit that I was one of those people who heard a story from a friend's investment in crypto and his outstanding returns. This was back then in December 2017. Not really knowing what Bitcoin is (in fact i just heard about it's performance in the news, but not the concept or technology behind) I ran to my computer and made myself an account on a crypto exchange. I deposited a small sum and bought my first 0.00xxx Bitcoin.
Then January 2018 came. In the first days I daily checked by account to verify that Bitcoin is still rising. I felt the greed pumping and waining. I made some money out of it (+5% in 3 days ... some passive ETF investors need maybe a year for that). I felt great and bough again, now at higher prices of around 16k USD. Bitcoins' price still rose and rose and rose ... until
This is a screenshot from January 16 2018, just two years ago. A smashing double digit percent loss. The first of its kind which I experienced in my then just 20 year old memory. It felt harsh and, of course, somehow painful. Seeing this loss also made me angry because I suddenly realized: I missed the hype. After some hours I though another buy wave might creep leading to new all time highs. As history proved this didn't happen.
I still HODL these initial Bitcoin until this day and bought some more close to its bear market lows and around 7k USD. Still I did not reach break even and the experience is there for a long time to stay. Now that I understand what Bitcoin really is about and what the whole world of crypto means I kind of enjoy having made this mistake. I wanted to understand why I was so greedy at that point in time, why didn't I see that a parabolic movement like the one of Bicoin in late 2017 cannot last forever. I started to learn more about this new market, foundations, technology, usage and got myself in some quantitative analysis.
Now I'm wiser and thankful that I witnessed these crazy times and changed my way of thinking. Don't let your mistakes make you stop. They are necessary to come further on the way to success.
Always make the best out of your mistakes.
Wiwiller
