Why did I stop Investing in Bitcoin?

Why did I stop investing in Bitcoin?

My journey into the world of cryptocurrencies began in 2020 when I was looking for new investment opportunities. Like many others, I was captivated by stories of people who had made a fortune investing in Bitcoin in its early days.

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Photo by Kanchanara on Unsplash

Instead of just investing in Bitcoin, I decided to explore the world of cryptocurrencies as a whole, especially staking and some other new projects I found on the internet or through telegram groups. In my search, I came across some projects that seemed promising but then fell through. Other projects I invested in were successful and I made profits.

Still, I also risked in projects with a high risk of being scams and unfortunately, some of them turned out to be scams and I lost money. (I now recognize how naive I was 🤣) I learned the importance of researching each project before investing in it and of having a solid entry and exit strategy. I also learned about the different investment strategies, such as staking, master nodes, copy trading, and how to use cold wallets and hot wallets to protect my investments.

The Extremes of Life: Euphoria and Disappointment

But my big hit came when I invested directly in Bitcoin and other cryptocurrencies such as MOVR, GALA, EGLD, and AVAX to get on the bull market train. I already visualized myself with the Lambo and enjoying the Caribbean. These coins had impressive growth in 2021, where my portfolio experienced a 400% increase in value. The feeling of euphoria, adrenaline, and greed was the perfect formula at this moment and the gurus and YouTubers predicted “To the moon” 💥.

I stood my ground holding on, however, in 2022, my portfolio experienced an 80% drop in the price of cryptocurrencies 🤐❌. And now I tell you that the feeling of failure, frustration, and desperation came with a lot of strength, however, what I have learned in personal development had to take effect quickly to be able to overcome and stay well. The lack of liquidity and a solid entry and exit strategy led me to leave my investment in Bitcoin behind. However, I consider that if you have a solid entry and exit strategy, Bitcoin can be a good investment option.

The technology is incredible, and I will surely return to invest when I have liquidity.

The Dream of Retirement: Using Cryptocurrencies to Achieve It

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Photo by Clark Tibbs on Unsplash

I learned that the world of cryptocurrencies is unpredictable, and although I plan my retirement at 45 years old, I must continue working my 9-hour job. But I don’t complain, at least I don’t have to worry about early retirement and getting bored! Although I already have several investments and sources of income, I still consider that it is not the time to retire completely. My goal is still at 45 years old, although I am already 47, but I continue with the plan.

It’s like having a cryptocurrency on hold, always waiting for its value to increase!

This journey is not over, investing in Bitcoin has taught me a lot about risk management, identifying opportunities, and the ability to take advantage of market ups and downs. I learned the importance of researching each project before investing in it, having a solid entry and exit strategy, and keeping up with the news and market events. Although my experience was not always positive, I learned valuable lessons about how to manage risk and how identify opportunities in such a volatile market.

I learned about different investment strategies, such as staking to generate more coins and how to use cold and hot wallets to protect my investments. However, I also learned the importance of having a contingency plan. I learned that, although I can have a large number of investments and sources of income, it is always important to have a Plan B in case things don’t go as expected. I learned that I must always be prepared to exit at the right time, especially in such a volatile market.

The trip continues

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Photo by Max Vertsanov on Unsplash

Overall, my experience in the world of cryptocurrencies has been a great learning experience, and I am eager to continue exploring the investment opportunities that arise. Another benefit I got from my experience in the world of cryptocurrencies and investing in Bitcoin was the ability to capitalize on other traditional investments, such as the real estate market.

My success in cryptocurrencies allowed me to have additional capital to invest in real estate properties, which has allowed me to diversify my investment portfolio and I am building a legacy and additional source of passive income. In addition, I also learned to be more cautious when investing, to have an investment strategy, and to know when to get out, this has helped me to be more careful in other traditional investments such as real estate and stocks.

Finally, I no longer invest in Bitcoin not because it is not good, but because I have become trapped in the bear market, this is one more step in my learning, and the losses I had I consider as training expenses.

Yes, training has been very cheap for me!!!

I invite you to share your experience in the world of cryptocurrencies in the comments.

Who knows, maybe we can learn something new together!

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