The Danger of Myopia
Plus headlines you might have missed
Dear subscriber,
Talk about turbulence! The world of cryptocurrency is choppy, rough, and full of froth right now— in a bad way. As is the rest of the investment world!
If you’ve managed to make money in this market, congratulations.
If you’ve lost a lot of money in this market, don’t blame yourself.
More than that— don’t be myopic.
I’m seeing that a lot on social media from people who are relatively new to crypto, and it’s concerning. Many times, it seems to stem from hyper investment in one chain at the expense of others. A investor becomes so focused on the returns from one trade that they don’t care about other signals coming from other sectors.
I saw this recently with several accounts I follow on Twitter, all of which are heavily invested in a particular cryptocurrency. Despite great fundamentals, that crypto has sold off quite a bit in the last few months, just as much of the sector has. And now, tweets from a number of those accounts reflect a frustration at the downside without an acknowledgement of the broader sell off.
In my opinion, this narrow point of view is a bad thing.
Myopia like this can cause people to lose out during rough investment periods. It can make someone misjudge the strength of their investment. And it can make an investor emotional instead of rational.
All negatives.
This is an investment and you’re here to make money. You need to take as much emotion of it as you can. You also need to acknowledge the boarder sector. Doing so will allow you to make shrewder decisions in both bull and bear markets.
Just my two cents.
What do you think? What steps are you taking right now?
Plus…
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.