I Invested in Crypto in 2017, Here’s My Journey and What I’ve Learned
It’s hard to believe it’s been three years since I took the plunge and invested in cryptocurrency for the first time. As a novice investor, I was hesitant at first, but the buzz surrounding Bitcoin and other digital assets was too loud to ignore. In this article, I’ll share my personal journey, the highs and lows, and what I’ve learned along the way.
The Initial Investment (December 2017)
It was December 2017, and the cryptocurrency market was booming. Bitcoin was trading at an all-time high of around $19,000, and many other coins were experiencing rapid growth. I was intrigued by the potential of this new asset class and decided to invest a portion of my savings in Bitcoin, Ethereum, and Litecoin. My initial investment was around $10,000, which may seem like a lot, but for me, it was a significant amount of money.
The Early Days
The first few months were exciting, to say the least. My investment portfolio was growing at an alarming rate, and I was making regular profits. It was like having a get-rich-quick scheme, and I was hooked. I was convinced that this was the next big thing, and I was proud to be an early adopter.
The Crash (December 2017 – January 2018)
But then, the unexpected happened. On December 1, 2017, the cryptocurrency market started to decline rapidly. Bitcoin fell by over 30% in a matter of days, and other coins were not far behind. My investment portfolio was losing value at an alarming rate, and I was starting to get nervous. It was like being on a rollercoaster that was headed straight for a crash.
The Lows
The crash of 2017-2018 was a brutal wake-up call. I watched as my investment portfolio shrunk by over 50%. It was devastating, and I questioned whether I had made a huge mistake. I felt like I had lost all my hard-earned money, and I wasn’t sure how to recover. The market seemed to be heading in the opposite direction, and I was feeling anxious and unsure about my investment.
The Recovery
Fast forward to today, and my investment portfolio is back on track. It took time, but I learned a valuable lesson – that investing in cryptocurrency is not a get-rich-quick scheme, but a long-term commitment. I rode out the market fluctuations, diversifying my portfolio and reducing my exposure to volatile assets. Today, my investment portfolio is performing well, and I’m optimistic about the future of cryptocurrency.
What I’ve Learned
So, what have I learned from my three-year journey in cryptocurrency? Here are a few key takeaways:
- Invest with a long-term perspective: Don’t expect to make a quick profit or cash out your investment in a matter of days. Cryptocurrency markets are highly volatile, and investing in this space requires a patient and long-term approach.
- Diversify your portfolio: Spread your investment risk by diversifying your portfolio across different asset classes, sectors, and geographic regions.
- Don’t get emotional: Investing in cryptocurrency can be emotionally challenging, but it’s essential to remain rational and detached from your investments. Avoid making impulsive decisions based on market fluctuations.
- Educate yourself: Learn as much as you can about cryptocurrency, blockchain technology, and the markets. This will help you make informed investment decisions and avoid costly mistakes.
- Have a plan: Before investing, define your investment goals, risk tolerance, and strategy. This will help you navigate market fluctuations and stay focused on your long-term objectives.
Conclusion
Investing in cryptocurrency in 2017 was a wild ride, to say the least. But despite the challenges, I’ve learned a great deal and made a profit in the process. If you’re considering investing in cryptocurrency, remember to take a long-term perspective, diversify your portfolio, and educate yourself. And above all, have a plan and stay disciplined in your investment approach.
