"The Regret of Not Selling on Time" – The story of Luis
Luis, a young enthusiast of technology and digital business, discovered cryptocurrencies in 2017. He heard about Bitcoin when it was close to $1,000 USD and, although he hesitated, he decided to invest $500 in that currency and $500 in a new cryptocurrency called Ripple (XRP), which was costing only a few cents.
During the first few months not much happened, but by the end of 2017, the market skyrocketed. His initial investment of $1,000 turned into more than $15,000. Luis was euphoric.
Friends and family advised him to withdraw at least part of his profits. But Luis, confident and caught up in the market euphoria, thought that this was just the beginning: 'Bitcoin will reach $100,000,' he repeated.
Then came the crypto winter of 2018. The market collapsed. Bitcoin fell to less than $4,000, Ripple lost more than 90% of its value, and Luis's portfolio shrank to less than $2,000.
With a broken heart, he withdrew what little was left.
What did Luis learn?
Not to be carried away by greed.💵💵💰💰
Having an exit plan or 'take profit' when profits are significant.
Diversifying and not investing more than one is willing to lose.
Not to follow market emotion without logical analysis.
Epilogue
Years later, Luis returned to the crypto world, but now with more experience. He learned from his mistakes, studied more, and became a much more prudent investor. To this day, he does not regret entering the crypto world, but rather regrets not having a clear plan from the beginning.