2023: A review

2023: A review

By TwoDogsCaged | TwoDogsCaged | 27 Dec 2023


Well, well, well. I have made it through another year of learning and investing in cryptocurrency.

This little post is a review of what I have learned during the year. First, I have learned something that I had already learned. I learned that investing in anything through emotions is not the way to go. I wrote around this time last year that I would continue to invest on the way down, and not buy on the way up. I have stuck with that mentality, and on the year an up over 100%. Out of the 8 cryptocurrencies I have invested in, I am up on six of them. Those six have definitely made up for the losses on the two. However, I suspect in the long run, those losses will turn into some sort of gain.

I have also learned to trust my instinct that cryptocurrency will outlast the negativity of the fall of FTX and CZ (to a lesser degree) Binance. Although, I am worried about Binance in the long term.  Save the negative replies about Binance. I am not against it, I just don't see it being the top exchange in the future.  

In 2023, I also have learned that the courts started to side with cryptocurrency instead of the SEC.  I think that XRP is massively undervalued (not investment advice), just my hunch.  I have written multiple reasons why in past posts, you can look them up in my archives if you want to.  

I have learned that my predictions for a bull run were wrong in 2023. I did not expect the hot start to 2023 in crypto prices then to fall for most of the year until the late fall and early winter of 2023. I thought the bull run would start around August, 2023. I was off by two or three months.  

I have also learned to read through the lines on anything media driven that is related to cryptocurrency. On any given web search, I typically can find an article that outlines the demise of cryptocurrency or the rise of cryptocurrency. I don't necessarily believe either, though contrary to what I thought two years ago, CRYPTOCURRENCY is HERE TO STAY!!!!!

Finally, Although I can be wrong about something (SOLANA), I did not let my emotions get the best of me. I thought Solana would fail, and I waited to buy to see if it would go the way of Terra Luna. It did not, So I bought (a little on the way up at $20.) Once it did not go to zero, I knew it would not fail.  It survived the fall of FTX, and those who invested are reaping the rewards. 

I love Cryptocurrency. I will soon post about my 2024 predictions. Thanks for reading and tipping!!

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TwoDogsCaged
TwoDogsCaged

Cryptocurrency is a fascinating idea, one that has many confused, scared and dismissive of the concept. However, it also is intriguing and likely a large part of the future.

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