Charlie Munger Once Said, 'The First Rule Of Compounding Is To Never Interrupt It Unnecessarily'. Short-term thinking often leads to rash decisions and bouncing in and out of markets. Amazon was once a 12 cent stock and now it's up 185,000%. That's crypto numbers. So, if you are holding a quality project and are planning for the long run, then keep dollar cost averaging into that position and stay on the course.
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We are heading back to Jan. levels on BTC. Rough month, but we can't ignore the macro factors that contributed to this. We are about to get a jobs report with no unemployment rate in it! What?!!! That's how you know it's bad. Rate cut projections are at 50/50 for December and AI has been selling off lately. So where are we headed? Remember, I've mentioned volatility several times and how rocky this market will be. So when it gets bad like this, keep thinking about the long term. Prices are getting at levels that many of us wished we got in at. So what do we do with that information? Research the fundamentals of the project and determine if the value is still there. Always do your research and know your targets. Stay focused!
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When in doubt, zoom out. Today feels bad, this week, and past 30 days are tough. But pan out and then check to see if it's as bad as it is. One thing has held true with BTC, and that is holding for 4 or more years has produced gains. Even if you bought at the last cycle top. So, how do we play defense and offense? DCA (dollar cost averaging) is always at play, and the easiest thing to do is to stay on the path. There will be tokens that crash hard and will present opportunities for you to pick up at the price that you would like, and/or add to a position where you are down in but have conviction about the project. One of the biggest mistakes I made in the last cycle was not continue to buy Sol, ETH, and BTC through 2022-2023. I just held my positions. But the other big mistake was selling at the lowest point of the cycle. Next session will be on finance. We need to look at things outside of crypto so that we can make good decisions in crypto.
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