“Be fearful when others are greedy” I’m sure you heard this from Warren Buffet.
But, Warren Buffet wouldn’t want you to go all in until you can’t afford food or rent.
If you are young, have low commitments, have a job, have an emergency fund equivalent to 3-6 months of your salary, and have extra cash every month – you’re probably fine, take the risk and DCA into projects you believe in.
I myself joined at the Nov 2021 peak, terrifying isn’t it? I bought ETH at 4200, thinking this is a one-way up investment and yeah, everyone knows what happens after that. Today, 70% of my portfolio is crypto, pretty ballsy right? But I’m willing to take the risk – DCA and buying occasional small dips. My ETH avg is now 3100-3200 and I’m super proud of myself.
Of course, if you are balls deep and need that money for life and death matter, pull out now, you can have all the money in the world but once you die everything is meaningless.
If anyone is interested to know what’s my play now: stack fiat and stables, DCA, and keep myself mentally strong and emotionless. When you let your emotions take control, you already lose the battle.
I’m not only taking this opportunity to accumulate more, but also to train myself to be cold and emotionless when it comes to investing. I’m still down 55% on my overall portfolio with the majority of them being BTC and ETH, I’m not freaking out, why are you?
If you really can’t HODL anymore due to various reasons, pull out, there’s always a comeback. if you can, congratulations, you will make it.
The purpose of me writing this post isn’t about farming karma, I want to lift your spirits up a little. You don’t have to upvote this 🙂