Coinmarketcap reports that Bitcoin is on track for the biggest weekly gain of 2022 so far.
Which is a bit like saying that breaking your left arm is the best possible skateboard-related injury.
Okay. Bad analogy. But you get my point.
2022 has been eventful so far. The problem is none of the events that made it eventful were positive.
A lethal combination of bad market actors (Yo, Kwon), heavily centralised exchanges going bust (malice or incompetence, the end result won’t change) and the inevitable impact of human psychology dragged us down to this level.
Think about it. Bitcoin at 20k in 2017 had people go “wow! To the moon!”, whereas Bitcoin at 20k in 2022 make us panic and wince.
People constantly repeat the ‘not your keys, not your crypto’ mantra and I get that. I agree. But the truth is always in the middle.
I think the best way to go about it is split your crypto and hold it in 2-3 different exchanges, only the major ones, the ones that, on paper at least, are solid. And 2-3 wallets.
I stake whatever I can stake but I only pick coins and tokens based on analysis. Not sentiment.
And I keep most of what I have in BTC anyway.
And, crucially, I try my best not to be greedy.
I reinvest some of it, and spend some of it. Mostly on coffee. But that’s a different story.
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