Seven lessons from the 2017 bull market
and how you can get ready for the next
bull run out at 2017 crypto
bull run seems so far away,
but it was not long ago that the price
of bitcoin reached an all time high of
around 19,500 US dollars
on the 17th of December,
2017 so in this video,
I will share my top seven lessons
from the 2017 crypto bull run.
What I learnt and so on.
So as someone who got into the crypto
space in 2015 I must say that 2017 bull
run one was one of the most
unreal experiences I’ve
ever experienced and I don’t
think it will be the last.
So if you bought bitcoin
or other cryptocurrencies
in the last year or you’re
planning to buy some bitcoin
of cryptocurrencies soon,
then this video is for you.
So make sure to watch to the end as these
seven lessons will help you make the
most out of your investment
during the next bull run.
So let’s get started. Lesson number one.
it does not matter how smart or
experienced educated you are.
Timing is everything. So the
crypto market is super irrational.
First of all,
it’s due to the low market capitalization
due to manipulation and due to a lot
of speculation,
and that’s why you need to think about
how long you would like to keep your
cryptocurrency, what kind of
investment plan you want to have. Now,
most people that have held bitcoin
for over a year did very well.
So apparently there are only 70 days.
If you look from today’s date that
bitcoin has been unprofitable to buy,
that means that if you bought
bitcoin at any random point in time,
there’s a 98.17% chance
that you’re profitable.
my suggestion is buy forget and
ignore the small price fluctuations.
So if you bought Bitcoin, for
example, in the 18th of September,
2017 and you held onto it until today,
then you’d have doubled your money.
But hindsight is 2020 it is always
easy. So the longterm holding is,
in my opinion, the key to
lower taxes and greater wealth.
Lesson number two, hype is your enemy.
So we are all human and as such, we have
some predictably emotions, greed, fear,
uncertainty, doubt.
And these emotions get multiplied as
soon as there’s money on the table. Now,
one of our predictable
behaviours is, for example,
being vulnerable to storytelling hype.
So it could be the fear of missing out
on a huge opportunity and people telling
that they have found some
riches by buying a coin.
I remember really well the
feelings that bubbled inside of me.
When I heard about a new
promising ICO during 2017,
or read about this hidden
gem and incredible and super
great advisors and blah,
blah, blah, blah, blah. Now maybe
you’ve heard of a similar experiences.
You’ve read about it on reddit. And yeah,
this feeling of missing out was so great.
It prevented me from thinking
rationally. Now I wanted to the by a,
this coin or that coin
as fast as possible,
dropping everything else I was doing.
And very often they didn’t end well.
Had a big losses of very often these
projects had massive presale discounts,
fluffy games, paid reviews and so on.
So after being burnt once and losing
my initial investment I learnt to look
through this hype and,
and think a lot more before
investing lesson number three.
Now if the creator of a project decides
to sell or donate his or her coins,
you maybe should think
probably of doing the same.
And the reason I’m saying
that is you might remember,
well at the end of 2017 Charlie
Lee the founder of litecoin,
he announced that he had
sold all of his position.
Now why selling doesn’t really matter.
It may be for personal reasons
that made it views, doesn’t matter.
So I think it’s just really important
to be extremely cautious when founders
decide to sell all of the tokens and
maybe also think about also exiting your
position, especially if this
is public information. Now,
as side note in the stock market,
the investing firm Berkshire Hathaway
held the record 122 $ billion in cash in
2019 so this cash holding is worth
nearly 60% of his portfolio of public
companies, the largest proportion
since before the last financial crisis.
So this is also a sign that they are
scared of the next financial crisis.
You’d be the judge.
Now, lesson number four,
you have to be very careful about all
youtubers and bloggers that speculate
about which coin to watch or which
coin to buy next month or next year.
Very often a youtuber,
bloggers don’t tell you if the paid or
promoted a special project and so on or
they got compensation.
Now I want to be as authentic as possible
and I always tell you if something
sponsored or if I’ve been paid to bring
a project to you and keep in mind that
when you see someone hyping a project,
they might have big amounts invested.
So lesson number five do
not attempt day trade.
And I have to repeat this again,
do not day trade unless you’re
very experienced in trading.
And this will only give you more
sleepless nights and anxiety and a lot of
stress and you probably
lose your investment.
Now do not trade high leverage if you
don’t want to end up on the rekt bitmex
Twitter account. And that me personally,
I’m starting to think that 50 x a hundred
x margin trading on Bitmex is like
playing a Russian roulette with a two
barrel shotgun using two Shells mindless.
So, and if you decide to trade then only
with a very small percentage of your
portfolio so something like 5% or longterm
holding is much more profitable for
the long run for most
investors. Lesson number six.
So very important. Don’t your
chickens before they hatch.
In other words, don’t profit
until you have cashed out.
So one bitter sweet memory I had
during the last bull market was when I
participated on a ICO and
it was called Carvertical.
I remember I bought the coins,
I participate in ICO and my
2000 US dollar investment,
I did went to 35’000 US dollar.
So I was super happy euphoric.
And furthermore, I truly believed
that the price would go even higher.
So I didn’t sell. So then when
the price dropped back down, I,
my investment went to 23,000 US dollars.
I was a not so happy and I also didn’t
sell because I thought the investment
will go much higher and yeah,
I already started regretting now selling
at 35,000 US dollars and I’m in the
end, I’m lucky I managed
to break even and yeah,
my fear of missing out,
caused me not to get the profit I had.
So a good rule of thumb is to set some
sell orders at various price points so
that you can take out your initial
investment and a little bit more if you’re
lucky. Me Personally,
these three points are super
important advice. So first of all,
always take out your initial
investment when it goes up.
Dollar cost average sell
to get the highest average
selling price and profit is
profit. Don’t fret about the price
going much higher after you have sold.
So if you made a profit, you’re
better than most people in the market,
lesson number seven last but not least,
remember that you should not invest
more than you’re willing to lose.
I know many people that are talking
about that, but it’s super important.
Do not take out any loans to invest in
this market that have been quite a few
examples on reddit where people have
lost everything and now they need to pay
back a huge loan over the next
10 years, for example. So yeah,
I’m super looking forward to the
next bull market and me personally,
I think it will be around 2021
I look at four year cycle.
So hopefully you can use these tips to
make the most profit as possible with the
least risk. Now,
if you enjoyed this type of video and
you want to see me cover similar topics
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Thanks for watching and I’ll
see you on the next one.