Bitcoin recently hit $34,000 yesterday when as recent as Oc…

I try to never categorically give financial advice because I’d rather show people how I’d make decisions if I were in their shoes and I like (prefer) people to think for themselves and consciously make decisions they feel is best for them or decisions they can live with and not

just go off what some random person on the internet says BUT I’ll make an exception this time and tell you this, if you think you have bad luck with investing, don’t buy in. Here’s why:

People that feel they have bad luck with investing often have 3 things in common:

1. Fear:

This fear might be informed from bad experiences they’ve had in the past or it might be some irrational fear but they have high fear of losing. If you feel like you have bad luck with investing, anything (good/bad) that happens to your investment is going to feed into that fear.

In fact, you could go as far as looking for anything that would confirm your fear that you’ve made a bad decision. You’ll suddenly start seeing news articles saying that asset will drop, you’ll watch the charts and any small drop in price would confirm that fear.

2. Because of

their fear, they’re impatient: Patience is one of the most important attributes to have as an investor. Patience will keep you invested in something even when the asset is having a bad time. When you are afraid that something will go wrong, the moment anything LOOKS like it MIGHT

go wrong, you are quite likely going to run off because that confirms your fear.

3. They make rash decisions: People that feel they have bad luck with investing are often those that make rash decisions with investing. The first decision of buying that asset/investment is the

first rash decision they typically make.

They often don’t do research on the asset to understand how the asset works or what drives the asset. They often invest in things that are “popping” or doing well at a certain time.

They are often among the last people to jump on the

fast moving train of an investment that’s growing fast. They are often among the last adopters because they tell themselves that “I know this asset will drop the moment I buy in”, so they steer clear. But few days/weeks later, the asset keeps rising and maybe they tell themselves

the same thing. Then the asset rises AGAIN, at this point (or after they’ve repeated this dance a few more times), FOMO (fear of missing out) sets in, so they throw their hat in the ring. But the problem is, they got in just at the end of the bull run. So the asset price starts

dropping, which confirms their fear, and drops some more, and because they lack the patience that comes with understanding the asset, they sell at a loss and have their fears “confirmed”.

While Bitcoin’s bull run does not seem to have an end in sight, like all things that go up,

it would come down. It might not crash as low as $4k as it did in March 2020, but it’s price would eventually go down. If you feel like you always have bad luck with investing, you definitely don’t want to jump on a bull run out of FOMO. Be patient, understand the asset. Do this https://t.co/C8ndYoSAPD

smaller folks hanging with the empty bag in their hands.

Plus, who knows, the recent rise in price could be funded by some behind the scene actors looking to make a lot of profit and cash out.

If you MUST buy:

Don\u2019t throw all your money in at once. If you have 2,000 to invest,
— Edna Jennifer (@JE_dna) December 17, 2020

Bitcoin recently hit $34,000 yesterday when as recent as October 10th, it was $11,000

Here’s some unsolicited advice: If you feel you have “bad luck” with investing; i.e. you feel that “if you buy Bitcoin today, the price of Bitcoin will drop”; don’t buy in.

Here’s why I say so

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Bitcoin recently hit $34,000 yesterday when as recent as October 10th, it was $11,000Here’s some unsolicited advice: If you feel you have “bad luck” with investing; i.e. you feel that “if you buy Bitcoin today, the price of Bitcoin will drop”; don’t buy in.Here’s why I say so

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Bitcoin recently hit $34,000 yesterday when as recent as October 10th, it was $11,000

Here’s some unsolicited advice: If you feel you have “bad luck” with investing; i.e. you feel that “if you buy Bitcoin today, the price of Bitcoin will drop”; don’t buy in.

Here’s why I say so