My Biggest Crypto Mistake (So Far)
I was hoping that such a day would never come.
I am about to share a shameful secret, an action I took in crypto at an impulse and I will forever regret.
I instinctively felt I wanted to buy a (small) quantity of a specific token and guess how much I have now
One-third of the amount in $
Not sure if you can guess which token this is.
It all happened pretty fast.
I was in Bitget app* doing some other things, when I saw that they had added the $MELANIA memecoin!
ref link
This was one day before the Inauguration of President Trump and of course after I had missed the chance to make some profit buying $TRUMP token.
I saw the Melania token at the tempting price of $8 and I thought...
Well, it sure will go up! Let me buy a few - and put a sell trade for $10
Guess what happened.
It is now at $3.71 and I dont think it will go further up for sometime.
So now I find myself at a very difficult spot.
I wanted to write about it so that I potentially help others to never take hasty decisions in crypto, or if you do - you have to take the risk that comes with it
The positive in this is that I have learned a lesson while I did not lose much money, I only bought $50 of it.
What would you do if you were in such a situation?
Has something similar happened to you?
I know that we only lose money if we sell it, but in this case I think that time is an enemy.
Hope to hear your opinions below and please dont make fun of me :)
Posted Using INLEO
I would HODL for a while. I think there is certainly a chance that it could go up as. Much as as it’s done down.
This is what I think for now and we will see
Wow
That’s a crazy decrease
It should pump back but let’s see how it goes
I hope so!
no regrets, it was a lottery ticket. take the loss and don't look back.
also, stop drinking the kool aide, drink brawndo, it's got electrolytes!
Yes, lets see what happens!
If you believe in this project you can buy a slice now and lower your load price. If you don't believe in this token leave everything as it is and wait. If things get worse there will still be this purchase that will remind you of this adventure and help you decide better for the next one. This is my opinion, then do what you feel most inclined to do
I really dont know, I thought of waiting a bit, it keeps dipping ... I think that its better to wait at this moment
I looked now and saw that the price bounced up to $2.5 twice, so $2.5 is a level that investors are coming back to now. I wouldn't do anything at this point either. It's really too early to make a move now compared to yours purchase date.
We have a Czech proverb, that if you have a bad luck in a game, you get a good luck in love. Maybe it happens also to you.
Nice.
If this was your biggest mistake, it's not so bad! For example, imagine being early to buy BTC, XMR, ETH and SOL, and still ending up broke because you have paper hands. That hypothetical person would be such an idiot! 😂😭
These Solana memecoins, especially if they're issued by a celebrity, are only worth buying during the first hour. I was lucky to spot them both in time. $TRUMP could've had staying power if they hadn't been so greedy to issue another one for Melania too.
On the other hand, it's a cheap lottery ticket that doesn't expire. Recently I made a 130x profit on an ETH token I bought two years ago: $TURBO, the first memecoin designed by AI, which became popular long after I'd forgotten it. Since you can expect most of these shitters to go to zero, 10x is the kind of profit you should aim for. Buying for $8 and selling for $10 is not enough reward for this level of risk.
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Very insightful comment, thank you.
Yes, more than a x10 would be a goal and it can also save you from some other bad investments
sell it for gifu :P
;) Good idea!
Every one makes mistakes so I don't think you should feel bad. Even the most seasoned investors make investments that later fail. For me I never invest in memecoins or any coin without a strong utility. And I only invest when the market cap is relatively low ($100k-500k). I bought a coin earlier this month, it's price dropped but it later rebounded to yield a 300% profit.
Yes, sometimes they can take unexpected turns!
I did the same mistake and now they are just staying on my wallet... 😂
Oh Priyan, it is even lower today... Are you holding this;
Still yes but I will sell soon... Not having a good feeling about it...
https://www.reddit.com/r/u_katerinaramm/comments/1i7xqt4/making_costly_crypto_mistakes/
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Hi! Thank you for your feedback!
I tried to write to some communities, but my posts were not accepted. Having said that, I got some replies to my posts and some views too!
Will it be a problem if I share my posts on my personal profile? It is ok for me if I do not earn rewards for it, the reward is the exposure of hive.
Please let me know your thoughts on this.
A post shared in an account feed has zero exposure, unfortunately. Only sharing in a relevant subreddit works. Sometimes, posts don't fit any sub so you can skip sharing at all - I don't share most of my posts. You can also learn what topics are highly shareable on Reddit and write a post that would fit one of these topics or at least you can keep in mind Reddit while writing a new post... Many ways to do things :)
!LOLZ
lolztoken.com
It's a little meteor
Credit: reddit
@katerinaramm, I sent you an $LOLZ on behalf of servelle
(1/10)
I think many of us looked at the Trump token and wished we had a piece of the action!
LOL
So your actions and desires are understandable.
Fortunately your investment was small and who knows it could go back up.