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by slyfocks 3115 days ago
I can definitely relate to this. I was an early Ethereum adopter and mentioned it to friends fairly often when it was around $2. I’m usually pretty dispassionate around others, so my friends took my zeal for Ethereum seriously and bought a bunch of it.

Once Ethereum hit $6, on a market cap basis it felt overvalued for what was essentially an early stage startup. I was afraid it would have scaling issues with smart contracts. I convinced myself it was overly hyped, even though I now realize that very few people outside of my bubble had heard of it. I sold the first time it dipped from $6 to $3.75.

As soon as I sold, it started heading higher. Every day I told myself it was overvalued, and yet it continued higher. New coins that contributed nothing of value were suddenly raising tens of millions of dollars, so I refused to believe that the bubble could continue much longer. This was early 2016.

I then repeated the cycle with Monero—bought early, told others, sold early, missed out on 2000% gains.

Most of my friends have enough money to retire at 25 and while I’m happy for them, it’s definitely negatively impacting my mental health. Crypto isn’t my first case of bad luck, but it’s the only one that I’ve had to relive nearly every day—it’s practically inescapable with the current hype.

Try not to let it impact how you view yourself, though. You seem like an intelligent person who made a couple of impulsive decisions that ended up being magnified by hindsight.

1 comments

Thank you.