- Bad trades are part of an investor’s life, but successful ones don’t dwell on them
- Bitcoin’s recent rally has caught many off guard
- The crypto bull market isn’t over, far from it, so think about what riches are coming, not what you’ve lost
It’s a recognized fact that everyone misses golden trading opportunities. Warren Buffett ignored Amazon stock until 2019, Ronald Wayne sold his 10% share of Apple for $800 just 12 days after acquiring it in 1976, and almost everyone who holds bitcoin today didn’t buy it when it was under $100. Anyone who dabbles in trading of any sort has missed golden opportunities, either not buying when something was cheap or selling something too early. Many of us go through periods when we can’t seem to do anything except buy tops or hold onto a coin for months, only to sell days before it goes 100x. However, with Bitcoin starting a new cycle, opportunities to recoup those losses are just round the corner.
Don’t Ruminate on Lost Trades
Missed opportunities in crypto litter the ground, and there will be many who have misjudged the Bitcoin bounce from $39,000 to $55,000 in anticipation of a further reversal beforehand. These kinds of experiences give way to a feeling that you have missed the boat, that the best gains are gone in the market, or that you will never be able to catch a good trade again.
Of course there is no saying what is going to happen in the markets, especially when it comes to crypto, but all the evidence suggests that Bitcoin is about to embark on another of its famous runs. Every indication is that it will hit six figures in the coming cycle, which is going to see alts going absolutely ballistic. It’s easy to look back in anger at missed opportunities because they are known quantities, and we can’t know what is ahead of us – if we knew we were about to hit a 100x we wouldn’t care that we lost a few hundred dollars in a trade.
Look Forward, Not Back
Bitcoin may have rallied from $39,000 to $55,000 without you, but in doing so it has put itself on a pedestal for greater climbs. The bull market isn’t over, it has just resumed, so even if you have less money now than you did the last time it was $55,000 back in May, the time to strike is coming. The opportunities are all ahead of you for the next 6-9, maybe even 12 months, and even if you play it safe with some large caps, big gains are still on the horizon.
Don’t ruin the chance to make back your losses by reflecting on them and watching the bull market go by.