This is 2018 mentality over again

I was there, 3000 years ago.

People was so hyped, I remember being on ethereum, coworkers were like If it breaks 1000$ it won’t go down from there, the way is up.

When it crashed, everyone started selling like hell, calling it manipulation, that it was over, that every country would ban it…

People are starting to give up un crypto, I remember selling my ethereum literally at the bottom, 90$, if I had kept buying, I would be retired, just with 300$/month.

Most of altcoin will disappear, that’s true, but there’s no point on selling a 1k investment at a 90% loss, hold those, DCA in blue chips, btc, ethereum, avax, ada, bnb… only invest what you don’t need monthly, don’t over invest.

Don’t be like me in 2018, be me in 2022, buy while the others sell, sell when the others buy.

Plan an exit strategy, sell X % on the way up.

Not FA

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49 thoughts on “This is 2018 mentality over again”

  1. Yep. Its always the same. New people started talking about bitcoin when it hit 50k and now are screaming “its a scam”. Everybody bought in at 60k but nobody wants it now. At its gonna repeat again. Its like 90% of people dont realize it goes in cycles

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  2. >People are starting to give up un crypto, I remember selling my ethereum literally at the bottom, 90$, if I had kept buying, I would be retired, just with 300$/month.

    If I had just bet my house on 23 red I’d be retired.

    Turns out imagining what you’d do in the past based on things you only knew after the fact isn’t an investment strategy, its a gamblers fantasy.

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  3. I was also there. Crypto winter happened in a time when the current economic situation was a distant memory.
    This gonna be more like a crypto ice age.

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  4. Hmm, even if you sold at the top, and bought 300/month from december 2018 to november 2021, you would only have about 192k, or about 40k today if you never sold. That’s a long shot from retirement or any sort of real wealth. Just goes to show that even if you time the bull market perfectly, the moves simply aren’t big enough to make you a millionaire in a short period of time. The days of 200x – 1000x returns that make middle class people truly wealthy are long gone in crypto.

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  5. Well, what I’ve learnt from my own experience and reading about other’s experiences here, it seems that the main cause of panic is expecting the price to do something after reaching a mentally set milestone.

    That’s where the problem is, don’t expect the price to do something just cause.

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  6. This is different than 2018. 2018 followed a strong bull market and the price of Bitcoin was never close to the previous high of $1200.

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  7. I was there 6000 years ago, and the best thing I could have done would have been selling when people thought we reached the bottom.

    — “no way it is dumping more bro, whales selling, ICOs cashing out, all done now, right?” BANG, another 50% rugpull

    No one thought we would tank the way we tanked, to 3k, now literally everybody thinks we will at least see 10k.

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  8. Yes, DCA’ing BTC throughout 2018 and 2019 is how I got to be a wholecoiner. This cycle I’m going to DCA heavy into Eth!

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  9. Why do people treat BTC like a stock rather than a currency? This alone leads me to believe everyone screaming decentralized doesn’t actually care about an alternative to USD but rather getting rich quick.. am I wrong?

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  10. I’m going live on cashews and tap water if I have to. I can set myself up with a nice little card board box to sleep in as well.

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  11. Last time btc peaked in 2017, crashed, and crawled under 8k for about 4 years. Who knows whats gonna happen now, the sooner the bull market returns the better, but yall need to ask yourself do you have the patience to hold it for at least 5 years? If you do, great! Keep dca maybe try to hold for 10 years.

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  12. I couldn’t resist buying yesterday, even though I don’t think it’s the bottom yet.

    I will continue buying weekly until btc is above 30k. Like a modified DCA if you will. You’ll know we are near the bottom when the suicide hotline is posted everywhere

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  13. There are alot of people waking up dead today with a noose around their neck because they put all their hopes and dreams into BTC. Some people can handle a crash like this. Many more can’t. Its sad.

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  14. I was just a kid for the dot com bubble but I’ve been hearing a few of the people who were investing then say it’s similar to that too. Hopefully even not factoring in the classic 4 year halfing cycle it ends up going the same way. Anyone who bought something like amazon then and held on ended up being way up years later even if they fomo’d in towards the top.

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  15. I was kind of hoping it would be similar as I sold the risky bit in the hope to buy back more. Only thing is, it is not going down now…. So waiting to buy back at a better price and then turn everything off for a few months.

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  16. Those who do not know history are doomed to repeat it.

    Those who do know history are doomed to watch helplessly as it is repeated around them.

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  17. This is the first not FA I’ve gotten on this sub that has really looked helpful to me. I will plan an exit strategy, thanks OP.

    Also I hope you’re right, my FOMO is engaging.

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  18. This is the way. But please, let this get uglier first. I want to buy LINK and MATIC when they are below 1 bil. market cap. so I get an easy 20x in 3-4 years.

    Sell boys, sell and run!

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  19. this has instilled fear into the market, but me personally believe this is cleanup of crap coins. But the coins that solve every day problems and good fundamentals will survive. It will brings tons of opportunities once the dust settles.

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  20. These prices are no brainers on blue chips. To me, the only blue chips are ETH and BTC. SOL, AVAX and other alt L1s will prooooobably be around but I wouldn’t be at all surprised if they also collapse.

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  21. Isn’t BNB under investigation now? Sell now is suicide mission but if someone has money 💰 why not buy ETH, BTC, ADA, DOT. I am keeping my eye on near protocol since it dropped in prices so massively idk 🤷‍♂️ if it is good investment or how much coin should I get to be rich one day lol 😆

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  22. If there were no people giving up we would never have the opportunity arise again.

    Thank you for your early sacrifice and welcome again

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  23. That’s because there was not guarantee that things would recover in 2018, and there isn’t a guarantee now either. It’s easy to look back with hindsight and plot a course that you “should” have taken, but that doesn’t mean that the same course will be correct for the future from now.

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  24. > there’s no point on selling a 1k investment at a 90% loss

    Yes, there is one: salvage the 10% that is left.

    You dont know if it is going to 100% loss or if it will stop at 91% and reverse.

    Reply

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