There are always new people coming into crypto wanting to be rich in a couple of months. I am not saying that it is unachievable, however, it is extremely unlikely that you would be that lucky individual. We all know about that one who turned 8k to 5 billion within a year with SHIB. You need to remember this, for someone to make those gains there are people who are losing.
There are several important quotes in crypto that make a lot of sense.
- Time in the market is better than timing the market
- DCA in and DCA out (in during bear and dips put during bull and pumps)
- When in doubt just zoom out
Now to the title of this post, why 3 cycles? Here is the short and quick version for all those peps with a limited attention span like myself.
The 1st cycle is where you make the most mistakes, trying the time the market, FOMOing, and regretting your decisions. This is the cycle of education, you make the most mistakes but you learn the most too.
In the 2nd cycle, you are making some gains knowing your mistakes, and getting cocky. Finally, your cockiness bites you in the back and you make fewer gains than you could have.
Finally, in the 3rd cycle, you have learnt your mistakes and know that following rules emotionlessly is the best way to go. You have made gains before and because you are in the market for a long time now those initial gains are doing you greatly. You are better a DCA in and DCA out. Finally, you make it and dry your Lambo and showcase your success story.