The hardest thing in a period of rapid change is to sit on your hands but that’s what I’m trying to do.
FOMO is a dangerous human over-reaction to events and while I’m all for acting on gut feelings (in the right situations), overall I think “apeing into crypto” at any time is a bad toss of the dice.
But when all markets — crypto, gold, stock etc — are popping and sentiment is they’re going to pump for a while, at least until people get a better handle on what going to happen with interest rates, it’s really, really hard.
I guess my advantage in this situation is I’ve been in the space since 2018 so however weird and unbalanced my “portfolio” is, most of it is going up. I don’t feel like I have to chase the market.
Indeed, my major focus this time around is thinking about selling stuff off to pay down debt — I don’t have much but would like to have less. This is a much easier task because it’s all about using current growth to derisk the future rather than relying on current growth to make risky bets about the future.
In that regard, at least, I agree with the FCA that crypto is risky, you should be prepared to lose everything you put in, and never use debt to buy etc.
That stated — and as a fan of the Monty Hall problem — I do think we should react to new significant information and the market is nothing but a continual flow of new information, some of which is now more significant than it was.
In that regard, then, I reserve the right to cycle out of some of my existing assets, either to double-down on other existing assets or maybe even to acquire small amounts of new ones, but always with the proviso of a five-to-ten year hodling window.
Which is as close as I get to investment advice. As ever, do your own research and measure twice before you cut.
Sponsored by Hiro Capital: investing 📈 in the future 🔮 of gaming 🎮
Keep reading with a 7-day free trial
Subscribe to GamesTX to keep reading this post and get 7 days of free access to the full post archives.