It’s my cake day so I will give you all some words of wisdom

I started buying crypto in 2017. I made an initial investment of $7K which turned into $120K at the height of the bull run. My initial goal was to 2x my investment. When I hit $14K greed took over and I said “alright, I’m cashing out at $50K”. But I waited. Then I hit $100K. I thought “damn good thing I didn’t cash out or I would have missed out on so much”.

Delusion took over and my new goal was $1M. Why not? It was only 10x more. Then cryptos started crashing. I held on due to greed. It’ll bounce I thought after every crash. Because I was all in on alts I soon found my $120K was $4K. Not only did I lose all that paper gains but I even lost some of my initial investment (technically didn’t lose because I didn’t sell). At this point, I decided to just hold onto to it. Well the bull run came back and my $4K was up to $60K or so. I ended up selling to pay off some student loans and CC debt. Yep, I missed out on a lot more gains if I held on this time around, and who knows what will happen. I’m sure it’ll go up for few more months… but I didn’t want to be left with nothing for a second time. At least now i can save money and DCA in for the next bull run in a few years.

This story is not that unique, it happened to so many people. Don’t let greed stop you from taking profits. It’s not minimizing profits, it’s minimizing risk.

There’s a lot of people who think “all or nothing” and that’s not necessarily wrong but keep your expectations straight. You’re not going to be a millionaire with a $1K investment in one bull run, save for the extreme outliers that buy absolute shitcoins that moon. BUT you can be a millionaire within 2 maybe 3 cycles of the bull run by DCAing profits up and reinvesting profits during the bear market.

There are people who decide they don’t want to deal with the stress and work and rather just keep their coins and not trade. That’s fine too and it will work out. But this applies only to legit projects. You can’t keep a meme coin for decades (maybe I’m wrong but it’s not an outrageous assumption).

Anyway, I’m out of crypto because I accomplished what I needed this run – paying off debt. I’m saving straight cash now and waiting for the next bear market to DCA in. No I don’t think the bull run is over just yet – so don’t take this as fud. I’m just a random redditor who is happy for paying off soul crushing loans.

Best of luck to you all, and see y’all again in a few years. We will all be on yachts soon.