I have to make a public confession. I traded my own money in Crypto currency. I feel embarrassed to admit that I traded Crypo. I convinced myself to follow the hype. To me speculating in crypto is like the modern day story of the Dutch trading over priced tulips in the 1600s. After a time, there was a lot of hype, but little value. This blog post is about me convincing myself that crypto was worth the money speculating.<\/p>\n\n\n\n
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Prior to deciding to place my hard earned money into Crypo, I completely ignored the asset class because I thought it had no economic value. My interest in crypto began after a friend told me a story that his friend earned over 200k. I feel for the trap. I felt as if I was missing out on those sweet earnings. After conducting some analysis using python, which I made public here<\/a> on Github. This analysis was based on no fundamentals other than looking at the prior months of momentum trends of all crypto coins. <\/p>\n\n\n\n Looking at the results of my analysis, convinced me that placing a bet in crypto was worth it. In January of 2022, two month prior to the “Crypto winter”, I decided to follow the hype and take plunge into crypto. At the time, I decided to place my money in a few thousand MATIC, which cost me a few thousand dollars. For the two week, the price was going up. I congratulated myself. I made a great decision, all my analysis worked. Three weeks later, BOOM, it happen, all the crypto coins dramatically dropped in price. I stayed in, because I had the long-term perspective also because of the sunk loss fallacy, I didn’t want to leave. Other the period of the next few weeks the coin fluctuated then became flat on the low side. About a year of holding my money within MATIC and reading an article<\/a> written by Paul Krugman, I decided to quit. I left and lost money, but not all.<\/p>\n\n\n\n Reflecting back knowing what I know now, would I trade again? Probably not. I think from this experience I learned a valuable lesson. Listen to the elder economists, don’t invest or speculate in something that doesn’t have any fundamental value.<\/p>\n\n\n\n I believe that crypto long-term may have a place in the world. Perhaps, as an international intermediary currency. Moving forward crypto is not an asset class that I will not trade.<\/p>\n","protected":false},"excerpt":{"rendered":" I have to make a public confession. I traded my own money in Crypto currency. I feel embarrassed to admit that I traded Crypo. I convinced myself to follow the hype. To me speculating in crypto is like the modern day story of the Dutch trading over priced tulips in the 1600s. After a time, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-105","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/zilladigital.co\/index.php?rest_route=\/wp\/v2\/posts\/105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zilladigital.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zilladigital.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zilladigital.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zilladigital.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=105"}],"version-history":[{"count":12,"href":"https:\/\/zilladigital.co\/index.php?rest_route=\/wp\/v2\/posts\/105\/revisions"}],"predecessor-version":[{"id":186,"href":"https:\/\/zilladigital.co\/index.php?rest_route=\/wp\/v2\/posts\/105\/revisions\/186"}],"wp:attachment":[{"href":"https:\/\/zilladigital.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zilladigital.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zilladigital.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}