Did i buy CRO (CRONOS) at the wrong time?

I've recently signed up for Crypto.com and taken advantage of the Red Ruby card they have to offer.

However, i bought on valentines day for 0,4276 EUR per CRO and with the recent market action, the price of CRO has dropped to 0,30122 EUR. That is a 22% decline in just 2 weeks.

You can see my crypto portfolio on Coingecko.

Someone tell the developers to do something, the price is dropping

Should i have waited for a dip to buy or was i right to have just bought whenever?

Normally i would follow a DCA strategy, but that wasn't possible here as it was a purchase to sign up to the Crypto card.

To reduce my losses abit, i did receive a signup bonus of 54 CRO, but im still down abit right now.

Does it make sense to try and time the market? Can we even do it? When buying anything, we seem to have this urge that we want the cheapest possible price and we want to buy when its at the bottom. But is this an irrational thought?

If i check the fundamentals and the price looks good, then in my mind i would buy it and justify it to myself that it was a good purchase. If it falls another 5% or 10%, then zooming out helps you build in some perspective and you can still have a great price.

Do i have a great price when buying CRO this time? Maybe not when you see a 20% decline, but perhaps i do if you look at the price is 50% below its ATH and we have a crisis right now and when it passes, the price should recover. If i kept waiting til it reached its lowest price, i may never have bought any CRO.

You may ask then, did i buy because of FOMO? A valid question and when you are active in the markets, buying because of emotions like fear and greed can cause you to make mistakes to your long-term plan.

Zooming out shows the great 1 year performance of CRO

First impressions of Crypto.com

I have not been using the Crypto.com App long enough to give a full review yet, but my first impressions are:

Positives

-slick and reliable App
-sign up bonus
-30 days fee free purchases of crypto
-debit visa card with good incentives
-the crypto earn feature looks good with some good rates

Negatives

-erroneous tracking of your portfolio profit/loss
-just starting out, the limits for Crypto Earn are annoying

Key Takeaways

-Expect volatility when buying crypto
-No one can time the market correctly and you will likely lose following this strategy
-Zooming out helps build some perspective

Thanks for reading

Chart source: Coingecko.com

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