Crypto expert BitBoy discusses the importance of patience in the current market, noting that their portfolios have all experienced losses and are down in value. They made a calculated risk by investing during a bear market and knew that prices could drop, but the potential reward was worth it. BitBoy advises against forcing moves and emphasizes the value of staying patient in the market. He also discusses their DCA portfolio and their plans to invest in ISO 20022 coins.
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The Importance of Patience in Crypto Investments
Portfolio Changes
Despite not making significant changes to the portfolio, Ben made a noteworthy move of replacing FTT and Solana with Algorand and HBAR in the $25K portfolio in the previous week. XRP also performed well. Currently, out of five portfolios, only the ISO 20022 portfolio has seen gains, thanks to Algorand and XRP. The others, however, are negative.
The Role of Patience in Crypto Investment
Even though losses can be disheartening, Ben emphasizes the importance of patience. He demonstrates this by not making moves arbitrarily and instead waiting for favorable conditions. Moreover, Ben assures that dry powder or holding stablecoins is necessary for investing effectively.
Portfolio Overview
Ben shows the current standing of his portfolios, which include $25K, $10K, $1K, and ISO 20022. The latter is the only portfolio that has seen an increase of $424.22. Ben also delves into his dollar-cost averaging (DCA) portfolio, which has seen some technical issues concerning failed transactions.
The Bottom Line: Risk Versus Reward
Bear markets like the current one require calculated risks. Ben reminds viewers that this is a crucial aspect of investing and that it involves taking a risk and calculating the potential reward, which may not be immediate.
Conclusion
Patience is key when investing in cryptocurrency, especially during bear markets. Ben shows that careful planning can lead to profits over time. Risk versus reward should always be taken into consideration. While it may be tempting to make impulsive investment moves, it’s essential to wait for opportunities when they make sense.
