The Reality of Investing

Seeing how the market keeps dipping deeper and deeper, one might easily conclude that the market has gone wrong or that the cryptocurrency market is heading toward extinction. This is often what is on the minds of new adopters of cryptocurrency. It is only those who have been in the game for years who truly understand. Market fluctuation is not new; it has always been this way. In fact, this is usually the period when many people invest. We often see investors trooping in en masse.

For those of us who have been in the game for a couple of years, this is nothing new. I remember in 2021 when the market dipped crazily within seconds. I recall being on a bike when it happened. There was nothing one could do because the platforms kept displaying messages like, “The market is too volatile.” I tried to initiate some positions, but I was surprised that none could be executed. The platform I used repeatedly informed me that the market was too volatile and that no transactions could be made.

Indeed, it was not only cryptocurrency that was affected. Many financial sectors and systems also went down the trail. Stocks and other financial models were almost off the rails.

I was talking to a friend recently who lives abroad. I suggested that he should invest in Nigeria’s economy, back home, but what he said surprised me, as if he had never lived in Nigeria before. He criticised everything I mentioned, explaining why it would not work. He argued that Nigeria’s system is not stable enough for financial independence and that the government could wake up one day and destroy what someone has spent a lifetime building.

I particularly mentioned Lagos to him, and he frankly told me he would not like to invest back home. He even spoke about the naira’s value against the dollar and why it keeps declining daily. I made him understand that, regardless of the challenges, people still do business in Nigeria. Foreigners continue to invest heavily in Nigeria, and it is evident. I also encouraged him to invest in cryptocurrency, but he dismissed everything. He bluntly stated that he has never made money from cryptocurrency.

I had to explain that it was because he did not wait long enough and mostly sold during bearish periods. No matter how deep the cryptocurrency market dips at any time, it will eventually rise again at some point in the future.

It is simply the nature of the market and the reality of the country we find ourselves in. We just have to do what we can and invest where we believe our resources are safe.