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Originally Posted by persona
Great read but at the same time for everyone of those FOMO stories there is always a successful story as well.
I’ll be the first to admit that I’ve made more from crypto in one year than I have in past 6+ years of working and I made a decent six figures annually.
I no longer work and I just invest on the side now all due to crypto.
Yes, I have to pay for my own insurance and I have zero benefits compared to when I was working but at the end of the day I’ve accomplished much more finically due to crypto than I’ve had it planned.
One of the leading Korean company is coming out with their own crypto next year and I finally believe it will get the Korean market going and back on track.
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That's awesome im glad it worked out for you. What did you have bitcoin or altcoins or a mixture? Who's the Korean company Samsung? I had a bunch of ICX at one time but traded it for NEO.
Quote:
Originally Posted by ninjacookies
I think the key point in your situation is that you got in extremely early. News stories like this are geared towards people that got in mid or late into the bull run up and essentially trapped themselves into values that were 90- multi hundreds of percent lower than they are now. So they're faced with the prospect of either hodling or fomo'ing back in during each mini rally hoping to cost average their losses in the eventual hopes the market cycle continues and new ATH's are hit.
No different than the silver market. The major problem with crypto is a good chunk of these investors simply took or continue to take the word of random youtube fever pitches from people with zero financial credentials or real knowledge of how the market works. And threw their entire bank account or retirement account into it.
But I suppose they also might deserve their fate based on this blind investment strategy. Current hodlers may end up looking like geniuses in 10 years, or the laughing stock of wallstreet if the current crypto landscape ends up another Bitconnect failed social experiment.
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I feel it could definitely could go either way it's still way too early to tell. Me personally i got in at the absolute worst time. Like they say once you hear about something and everyone else has it's probably too late. I got into crypto in the middle of January at the peak or right around there. I knew it was a risk going in but i still haven't sold so it's not a complete loss yet. There are a lot of crap coins out there but i think the big players will stick around. I think i still have about 220 NEO.