This time I not making the same mistake again and missing out on the bear market: My biggest regret was not buying in early 2020.
In early 2020 BTC hit an insane low around 3k and I was suddenly interested. I had some money to spare and life was pretty boring during that time. The only problem: The KYC on Kraken. Many of you will remember that in the past you had to take a picture of yourself while holding up a piece of paper with a message on it. The message usually included the date and your name. After many attempts I finally gave up and did not try any further. Of course this is my biggest crypto regret but I have learned from it.
Now I feel lucky that I have the opportunity to invest during a bear market. Obviously the prices are not at the 2020 level. Still I feel great that I am taking the opportunity to buy during the bear market and I feel confident that this is the right decision. This time I am not missing out and I will not be repeating the mistakes of the past.
Funny story: In late 2020 I received an email from Kraken that they changed their verification process and I was now accepted and free to trade. By then BTC had already gone up strongly and felt like Kraken was JOKING WITH me.
Couple of weeks ago when BTC was $25k people were wishing for $20k but yesterday BTC plunged down to $19k now they want BTC at $16k range.
If BTC plunged to $16k they wanna buy it at $12k. People never satisfied with any price.
People who openly lament the lack of a good price are those who will usually pass it up when it presents itself out of fear. Others who usually say how x price is a steal and is good for their bags are also usually full of shit because there’s no need to tell a forum of 6 million people that you lowered your cost average by a certain degree.
Everyone wants to buy a bargain price but nobody wants to deal with the consequences of catching a falling knife. If you believe in BTC or your chosen crypto, anytime over the last year has been a “good” time to buy.
One day when BTC pass $70k, people FOMO in BTC and buy it at that price.
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