Year 2020. The crypto market was slow, boring. I had been HODLing my Bitcoins, bought at a good price, for months. But nothing was happening. Meanwhile, I watched as some altcoins did 2x, 3x in a week. Impatience gnawed at me. "Bitcoin is too slow," I told myself. "I'm going to move this money to something with more action." I sold my $BTC for about $15,000 to chase a "gem." A few months later, Bitcoin surpassed $60,000.

THE FATAL MISTAKE: Switching a solid long-term strategy for the instant gratification of a speculative bet.

I betrayed my own plan out of boredom and envy. It was a lesson that, calculating the lost potential, cost me over $50,000.

THE STORY OF IMPATIENCE:

It's a very common psychological trap. You have a quality asset, but its growth is slow and steady. You look around and see fireworks in other cryptocurrencies. FOMO is not just about the fear of missing out on a rise, it's also about the fear of "being in the wrong asset" and "wasting time". I sold my gold for the promise of diamonds that turned out to be glass.

THE LESSON THAT WILL MAKE YOU A MILLIONAIRE IN THE LONG RUN:

  1. DON'T PICK THE FLOWERS TO WATER THE WEEDS: Your portfolio should have a solid foundation (Bitcoin, Ethereum) which are your "flowers". Speculative altcoins are "weeds" until proven otherwise. Don't sell your quality assets to feed high-risk bets.

  2. BOREDOM IS THE PRICE OF GREAT GAINS: True wealth in investing is built during periods of calm and boredom, not in the midst of euphoria. If you feel bored with your investment in BTC or ETH, congratulations! You are probably doing the right thing.

  3. UNDERSTAND THE "OPPORTUNITY COST": Before selling a solid asset, ask yourself: "Am I sure that this new opportunity is SIGNIFICANTLY better than what I already have?" Most of the time, the answer is no.

  4. HAVE A "GAMING PORTFOLIO": If you have the need for "action", allocate a very small percentage of your capital (1-5%) to a "gaming portfolio" to speculate with altcoins. This way, you satisfy that need without jeopardizing the core of your wealth.


Patience is not just a virtue in crypto, it's a million-dollar strategy.

Have you ever sold a cryptocurrency out of impatience and then bitterly regretted it? Share your story so others can learn.

#HODL #bitcoin #FOMO #Write2Earn