♾ In the world of cryptocurrencies, where prices can change by 20% or 30% in a single day, many believe that success depends on speed; the speed of buying before a surge, and the speed of selling before a crash.
But the shocking truth is that "speed" is often the number one enemy of your investment portfolio. In this volatile market, there is a famous saying that applies perfectly: "The stock market is a mechanism for transferring wealth from the impatient to the patient.",
♾ If you bought at the top because you were afraid of missing out (FOMO), or sold at the bottom due to panic, this article is for you. Today we will learn how to turn "patience" from just a moral virtue into a winning investment strategy.
♾ Why is patience your true currency?
The problem with the crypto market is that it operates around the clock, pumping massive amounts of "dopamine" (the happiness hormone) when you see green candles, and amounts of "cortisol" (the stress hormone) when you see red.
These fluctuations make you make emotional rather than rational decisions.
💠 Lack of patience in entry: makes you chase the rising green candles, buying at a very high price.
💠 Lack of patience in exit: makes you greedy for more profit until the market reverses and you lose everything, or makes you sell at a small loss for fear of a crash before the price rebounds.
💠 Patience in crypto means: the ability to sit on your hands and do nothing until the exact right moment according to your pre-established plan.