If you are new to the world of cryptocurrencies, you have probably felt something called FOMO (Fear of Missing Out). It happened to me when I opened my account on Binance for the first time. I looked at the price of Bitcoin at around $34,000 and Solana at $34, and thought: what if I buy now or miss the rise? But FOMO sometimes leads us to make decisions without much analysis, and that excitement made me buy other coins that were already in a very advanced stage of their bullish run.
The curious thing is that now, with more experience, I have bought Bitcoin at around $70,000 and Solana between $170 and $180. Although it seems expensive, I see it from a different perspective: we are in a market that will eventually experience another bull run, and there is a possibility that even these expensive purchases could pay off in the future.
Lessons from FOMO: Bitcoin as a Long-Term Investment
What my experience has made clear to me is that Bitcoin is a long-term investment. To be honest, we can look at today's purchase as a 'cheap' buy for Sir Miguel in about 20 or 30 years in the future. My strategy now is to accumulate Bitcoin, even if they are minimal fractions, and hold it in HODL (hold on without selling) without focusing on the short term.
If you are in this for the long term, consider FOMO as a motivation, but be sure to assess whether the purchases really fit into your strategy. Here we continue learning, but with an eye on the future.
$BTC $ETH $SOL #FOMO #BullRunAhead #toparticlenovember #Election2024
