Given the volatility of the crypto market, most know this isn’t a get rich quick kind of thing. A lot of people say if you can’t see your portfolio drop 50% without having a panic attack, crypto might not be for your best interests.
Tell yourself each time you buy, that this is at least a minimum of a year hold. For one, in the US you’ll pay less on taxes by letting your investment mature for a year. But, if you want to see real gains in your crypto investments, tell yourself a 2 year hold minimum before deciding on your next move. For two, you’ll find that things are much less stressful when the market goes into a bear cycle.
This is what I told myself for a while now. I wish I would of had this mindset from the beginning or someone telling me this. I may have invested differently. But we live and learn.
Now that I’ve cemented this mindset I’ve been able to live with much less worry when we have dips or bear markets. I have a much easier time DCA’ing every week without worrying about where prices sit. I will say it’s nice when you DCA at a lower average. But when you already have in your head that you aren’t touching this money for 1-2 years, it takes a weight off your chest.
Anyway, I just thought I’d share this for anyone having any sort of doubts or people questioning themselves on their investments.
Good luck investing.