Most times people don't actually sell because the price of an asset is falling but they sell their possessions when they're faced with some emergencies that truly requires money and leaving them with no other option but to sell and I'd you've been in this situation I'm sure you'll relate
That is why you only invest the money you don't need, or you can afford to lose. If you lose that amount of money you don't regret losing it or losing that amount of money won't have any impact on your life. 
Topic: A fortunate story of a crypto mentor - page 2. (Read 290 times)
He has faith that's why he was calm but you freaked out. Also, that was the money he can afford to lose, maybe it was a big portion of money for you but not for that guy. He was ready to lose all of it.
The logical reason is money which is not a problem for rich and elites so they can invest and wait for the right time to make profits whereas middle class investor is in need of money so he saved for year probably even for decades and invested onto something and when he see the value is crumbling we can understand how pissed his mind will be, but the experience will teach us what we should and not.
You did a great job with your advice and elaboration bit tye truth be told that saving is totally a different virtue of it's own and most times, the money invested isn't intended to be pulled out not because it's falling a d I'm sure this would be one of the thoughts and expections of most so called and acclaimed investors, not until reality and life hits them and one will realize that life isn't bed of roses.
Most times people don't actually sell because the price of an asset is falling but they sell their possessions when they're faced with some emergencies that truly requires money and leaving them with no other option but to sell and I'd you've been in this situation I'm sure you'll relate
Most times people don't actually sell because the price of an asset is falling but they sell their possessions when they're faced with some emergencies that truly requires money and leaving them with no other option but to sell and I'd you've been in this situation I'm sure you'll relate
showed me what I was missing by not getting into crypto invested 100k in crypto,
Since you didn't specify which ones were part of his portfolio and we're on a board targeted at newcomers, I would like to point out that it's not going to always end well [list of dead coins] if newcomers invest in something that doesn't have any reason to exist!why would you invest money that you aren't ready to lose in the first place?
I wouldn't, but it probably has something to do with the following saying: "No risk, no reward" 
I set things for myself in the following way when it comes to what I want to invest in crypto-currencies in general, considering that, like most, I was curious at the beginning and did not focus only on Bitcoin. I tried to save on things that I considered unnecessary in life, so I stopped smoking, eating fast food, and instead of a lot of low-quality alcohol, I started drinking a little high-quality alcohol.
All that money was diverted into investments, and part of it was of course unsuccessful, but it was not difficult for me to bear because I know that it is better to lose it that way than to spend it on things that destroy my health. Given that this board is read by beginners, maybe this experience of mine will be a good guide and motivation for some to try to do the same thing.
Of course, we spend money on a lot more unnecessary things, and everyone can decide to give up something and try to invest in something that will bring them profit and a better future.
All that money was diverted into investments, and part of it was of course unsuccessful, but it was not difficult for me to bear because I know that it is better to lose it that way than to spend it on things that destroy my health. Given that this board is read by beginners, maybe this experience of mine will be a good guide and motivation for some to try to do the same thing.
Of course, we spend money on a lot more unnecessary things, and everyone can decide to give up something and try to invest in something that will bring them profit and a better future.
I am not ready to invest what I can afford to lose because I will invest nothing because I do not want to lose anything.
Wanting to lose and what you can afford to lose are a bit different.No one wants to lose even a Kobo, penny or cent, but if they did lose that amount while taking a stroll, they wouldn't freak out or call the local authorities to help them out. If that same person lost a $100k or $1 million however, they would have a panic attack and do everything possible to try and find it.
That's the concept of what you can afford to lose; amounts that would not greatly impact your standard of living or overall purchasing power.
I am not ready to invest what I can afford to lose because I will invest nothing because I do not want to lose anything. But I have certain percentage I am investing on cryptocurrencies, I DCA when bitcoin is at $20000 down to $16000. I planned it very well and I did not invest during bear market. I invested one third of my money, expecting bitcoin to get to $17000 which can make me invest the remaining two third, I mean the % of the total money I want to invest on crypto. I will advice people not to invest more than they can afford to lose too, but this goes to beginners.
OP, that's the first lesson any of us learns in crypto anyway.
I've been in crypto for almost 10 years and I've seen many times how crypto rises sharply and then falls sharply and every time there was first a lot of euphoria when crypto rises and then a lot of panic when crypto falls.
I think that investors in crypto should first of all be rational and not emotional, have a concrete investment plan and a clear exit strategy.
Before any investment, you should of course thoroughly analyze the crypto market and make an investment decision based on concrete facts and not based on something you read on a forum or FB.
I've been in crypto for almost 10 years and I've seen many times how crypto rises sharply and then falls sharply and every time there was first a lot of euphoria when crypto rises and then a lot of panic when crypto falls.
I think that investors in crypto should first of all be rational and not emotional, have a concrete investment plan and a clear exit strategy.
Before any investment, you should of course thoroughly analyze the crypto market and make an investment decision based on concrete facts and not based on something you read on a forum or FB.
Someone I knew, a mentor who showed me what I was missing by not getting into crypto invested 100k in crypto, he started DCA'ing in 2018 to 2020, I was still struggling because I had no job then, he kept me close and kept me informed, in 2020 is wallet turned 4,000$ from 100k, he was so calmed like it was nothing, when he told me this I freaked out.. He replied " I was ready to lose the money anyway" that's investment for you..he said.
In 2021 he made a bit over 1 million dollars when market started to recover, the once 100k that turned into 4k grow over a million in dollars, he his an icon of motivation for me today , the reason why I shared this story today is for you to learn a lesson or two .
If he invested what he is not ready to lose he would have freaked out just like I did and took out his 4,000$ in big loss, so my point is, why would you invest money that you aren't ready to lose in the first place? This is wrong, you won't be able to sleep at night, you won't be able to take your eye off your portfolio, there will be no single calmness in your world.
Crypto is very volatile, invest only what you are willing to lose, no amount is too small as far as that's what you can afford to lose.
Have a great weekend.
In 2021 he made a bit over 1 million dollars when market started to recover, the once 100k that turned into 4k grow over a million in dollars, he his an icon of motivation for me today , the reason why I shared this story today is for you to learn a lesson or two .
If he invested what he is not ready to lose he would have freaked out just like I did and took out his 4,000$ in big loss, so my point is, why would you invest money that you aren't ready to lose in the first place? This is wrong, you won't be able to sleep at night, you won't be able to take your eye off your portfolio, there will be no single calmness in your world.
Crypto is very volatile, invest only what you are willing to lose, no amount is too small as far as that's what you can afford to lose.
Have a great weekend.
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