As crypto makes it into more mainstream headlines, we’re going to see an influx of new investors who have no idea what they’re getting into.
“I just bought SOL at $200, what can I expect?”
“I bought some Bitcoin on Wednesday and it’s already going down. Did I mess up?”
You’re going to read a lot of questions like this around crypto Reddit in the coming weeks.
Remember: Be gentle. There’s not a lot of difference between the clueless guy that YOLOed into Bitcoin in July and the one that did it last week.
There is a lot of difference between what they’ve bought into though. And for most brand new investors, a lot of that comes down to dumb luck timing.
Buying in right after ATH can be frustrating or even scary, depending on what happens next.
Remember the influx of people into crypto in late April and early May? Folks were buying days after all-time-high and didn’t recover their initial investment until this month.
It took them time to get an understanding of what the market was going to look like. A lot of them never even made it this far, and possibly sold at 30%, 45%, even 50% loss.
Of course, those that stuck around learned along the way. Possibly read a few posts about DCA. possibly read some of the “I’m a millionaire” stories about the benefits of HODL.
But chances are, a lot of them asked what they should do.
What they hear next is crucial in what they do next.
Telling someone who only heard about bitcoin last month that they’re dumb for FOMOing, or that they’re braindead for investing more than they can afford to lose, or that they should have bought a dip, or that they are impatient and need to just watch the cycle… this isn’t helpful.
The next few weeks is going to feel like an eternity for a lot of these people. Hell, there’s a lot of uncertainty for all of us in this sub right now.
The best advice you can give them is to DCA, HODL, and soak up as much information as they can. Don’t panic. Don’t chase green. Don’t FOMO. Just DCA, HODL, and Chill.