Investing is a very counterintuitive game! The emotions of fear and greed are always driving us to make decisions and the decisions they inspire are usually WRONG!
When you make an investment and six months later you’re at a loss or you see an investment you’ve been keeping your eye on starts taking off and you jump in out of fear of missing out (FOMO). These are the two most common scenarios people get caught in.
Our mission at GCN is to help you navigate the waters of the crypto space by understanding firstly that we’re still quite early into this new asset class and with the total liquidity being so low it’s very easy to have the dramatic ups and downs we’ve had. Secondly is to embody the mentality of a long term fundamental investor.
Warren Buffet said it best.
“Be greedy when others are fearful and fearful when others are greedy.”
To sum this quote up, do the opposite of what your emotions tell you what to do.
Many of our top picks are down around 30% and many people get anxious when they see this, however, this is an incredible blessing and opportunity to bring your long term targets WAY down!
Let me tell you what I mean.
Let’s use my top pick as an example, XRP.
Let’s say you bought 10’000 XRP @ .30 ($3000) and your goal is to turn that investment into 1’000’000$ that would mean that XRP would have to hit a price of $100 to hit your goal.
Now if rather than XRP going up in price it goes down to today’s price of .20 that’s an opportunity for to bring your target 🎯 down from $100. Let’s say you buy another 10’000 XRP at .20 ($2000) for a total cash outlay of $5000 and now you have 20’000 XRP and your new target is ONLY $50!!! That brings your target down 50%‼️
Now let’s look in the other direction...
Let’s say you wait for the market to take off and you buy another 10’000 XRP @ .40 ($4000) for a total investment of $7000. You still have the same 20’000 XRP but you’ve had to invest $2000 more...
If you took that extra $2000 you invested at .40 and added that at the same time you bought at .20 you would have an additional 10’000 XRP on top of the 10’000 you originally bought now bringing your total XRP holdings to 30’000XRP for the same cash outlay of $7000.
But your Million Dollar Target comes WAAAAAY DOWN!
1’000’000/30’000 = $33.33
This is the power of DOLLAR COST AVERAGING.
Now is most definitely the time to invest or add to your holdings!
If there’s anything we can do to help please don’t hesitate to reach out and always remember our affiliate commissions! Get paid and build your portfolio buy referring people.
Success is inevitable,