Getting rich quick with crypto is harder than you think it is

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So let’s say you found a small market cap gem and there is no way this project won’t make x100 . So you put $10k and you will end up with $1M in a year or two. Easy.

Unless you’re coming from money, $10k is a large sum, and putting it on a high risk asset will make you uneasy.

You have basically overinvested in a project and a lot of things could go wrong along the way. You’re sure it will x100 but you don’t have a crystal ball either.

The fact that you have put a sum of money you’re not comfortable to lose will most likely make you panic sell during market fluctuations. It’s easy to say don’t panic sell, but not so easy to do when something you can’t lose is on the line. Since small cap projects have less liquidity they will fluctuate even harder than the market. You will have mini heart attacks each time, you’ll start checking your phone in the middle of the night or first thing in the morning and there is a good chance you will panic sell in one of those moments. Plus you don’t need much reason for volatility here, crypto exchanges doesn’t have most of the market regulations and whales will fluctuate the market even harder to shake those paper hands.

One solution is not to overinvest, but then you need to find x1000 coin to make a $1M. It will make things harder and when things are going well greed will kick in and most likely you will put that extra money.

Or you should cash out your initial investment once you reach x2 and play with the house money. But again, when things are great, there is a good chance greed will kick in and you will end up reinvesting this sum and we’re back to step 1.

Crypto is a great investment tool and will make you much better profits than other assets in the long term, but if you are here to chase pumps, you may end up overstressed and burn out quickly.

submitted by /u/burgerissues
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