Why You Need to Think Long-Term In This Game
So with the massive drop in crypto valuations over the past few days (though the market is already returning to stability as we speak), emotions have gotten a little high and some people are nervous.
Some of my friends have told me that they're very nervous about their crypto holdings.
They wonder if it's all gonna go to 0!
I laugh at them when they talk about crypto like that. Not because I'm super bullish on crypto - although I am super bullish in the long-run - but because they think so emotionally about the markets.
I'm waiting for people like this to learn. To learn and understand that you have to play the long-game here.
The smartest players in this game are the ones who are collecting resources and making their preparations for the long-haul.
I read this article (linked at the end of this post) about Circle's recent investments and acquisitions.
If you don't know about Circle, they are a Goldman Sachs-backed start-up and they have been making a lot of deals and acquisitions in the crypto space. One major one that headlined a few months back was their deal to buy Poloniex.
Since then, we've seen them do other interesting things like create a stable coin and purchase other small startups like SeedInvest.
It's interesting to take a step back and look at the macro strategy of Circle. When you do that (as this article does), you can see what they've got cooking in their kitchen.
You can see that they're making their preparations for the long-game. They're not interested in earning tons of money in a short-term fashion on the "trend" of crypto.
They're positioned at the ready to capitalize on crypto in the long-term as we make our way into the Trillions of $$ range...
In my opinion, the people who are cashing out and who are so heavily focused on getting rich quick are going to be the biggest losers in this game - they're the ones who bought BTC at $18k because it was "going to $100k in the next few months"..
Play the long game my friends!
Here's the article if you want to read it, it's a good one! https://www.cnbc.com/2018/10/12/circles-head-scratching-deals-take-shape-as-cryptocurrency-bet.html
Really good post congratulations to @triptolemus, good jobs.
Upvoted and followed
Thank you!! I'm glad to have your support :)
Everyone fears crypto dropping to Zero but keep in mind when it doesn't do that and everyone quick buys people like us will be sitting pretty fat.
Haha I agree.. This market is for the ones with the strong stomachs. Those of us who stick around for the long haul will be mad wealthy in the time to come!
Totally agree...overall with one of your last idea...people who acts with patience and less ambitious shold be the winners!!
Months ago I lost all my profits and part (almost a half) of my investment 😑. Expensive learning! However, now days goes better 🐯
Patience AND ambition are key - in my opinion!! Don't be blindly ambitious though! Wow, that is expensive learning. I've had similar situations where I've lost thousands upon thousands of dollars. It's all a part of the game