What does this Crypto crash teach us?
And the next big opportunity
If you have experience in the crypto or equities markets you will know that time in market beats timing the market. Crypto is a new technology, shaping how we live our lives and crypto markets investment pie is only getting bigger. So if you have a long term view buying crypto over time and sitting on your hands for over multiple years is the best way to build wealth in this industry. That is how I reached a net worth of greater than $1 million, by investing in Ethereum in 2018 and simply holding through all the volatility. I was also able to maximize my gains by jumping on newer trends like DeFi & NFTs.
That said, we must still analyse what has happened to the market this week and why the crypto market has not risen up from news of low CPI data while the S&P is rallying on this news.
Who is to blame?
Stoicism is normally the best way to live life in my opinion. Taking personal responsibility for the good and bad things in my life has worked out quite well for me and helped me progress in my goals. I extend these values also to trading in the crypto markets. I try to understand the fundamentals of several cryptocurrencies, assess the macro environment and shrewdly take decisions on buying/selling these assets.