This time last year, most people rushed out to buy toilet rolls. We bought crypto.
Warren Buffett once said that it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.” This statement is somewhat of a contrarian view on stock markets and relates directly to the price of an asset: when others are greedy, prices typically boil over, and one should be cautious lest they overpay for an asset that subsequently leads to anemic returns. When others are fearful, it may present a good value buying opportunity.
In my country, corona restrictions and the scariest news came this time last year. Instead of panicking, I agreed with my GF that we can afford to invest some money in crypto when the prices plummet.
As much as I dislike Warren Buffett for his views on crypto, he is a genius investor and should be treated accordingly. Many of his ideas, philosophies and rules apply to crypto investors just as much as investors in stocks, estate, etc.
If you bought crypto this time last year, congrats man! The 2020 March discount was a once-in-a-lifetime opportunity to get in.