Seriously, don’t invest more than what you can afford. I learned that the hard way, today.
TLDR, I sold at a loss to pay my rent.
I got my paycheck on Friday last week, so I decided to buy some bitcoin. I've been so extremely focused into crypto nowadays, I've been checking the charts so much, looking at this sub, putting every single bit of cash into crypto. Normally I would be sane to refrain from. Truth is, I was so in the euphoria that last week on Saturday, when people got their stimulus, BTC was at $61k, I thought it was going to skyrocket more. I decided to put aside the cash to crypto from this week's rent, right at the ATH. I thought I can perhaps sell at a 10% gain in a matter of days.
But then the Monday dip came. I kept waiting for it to come back to $61k so I can break even. When the bill came, I was in for a rude awakening. I had absolutely no cash, not even the cash in my emergency fund because I was so stupid to have put it all in crypto a few months back already. (I'm starting to accumulate some fiat now.) You know what happened next.
I'm a fool, and you know it.
The golden advice of "don't invest more than what you can afford" has been tossed in this sub tons of times, but it's so easy to go with the instinct and greed that you do it anyways.
Crypto addiction is pretty much real. Don't prioritize it over life necessities. And please don't be greedy like I have just been.
submitted by /u/Iiau_