Unnecessary Speculation || Any Trader's Kryptonite
Speculation. Too much of it can be any traders kryptonite. And many decentralized superheroes have fallen to it.
I've been trying to convince a a few friends of mine that had bought ETH together at a price of USD 220 way back in 2017 that its probably a good move to sell their stack above USD 4K. In the process telling them that trying to predict the absolute top is a hopeless journey.
In the worst scenario and off chance that ETH never goes below 4K ever again, they would've have still had 10 times their original investment. And that's the worse case scenario. But alas, they are still discussing and trying to do predictions. I guess they want to learn this game the hard way, like many did before them.
The problem with trying to predict everything correctly lies in the fact that you're usually so deep into all the analysis and contemplation, that opportunity passes you by. Opportunity doesn't wait. Sure, some say patience is key. But at some point waiting in patience slowly nears a fine line with greed on the other side. And that's where you lose, or maybe just not gain anything from whatever opportunity was on your path. The same applies to dealing in cryptocurrencies. With constant hesitation and non stop speculation, trying to maximize gains might make you not make any decision at all, when a clear opportunity is right in front of you. So don't let it be your downfall, and be decisive. :)
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