Trader puts faith in crypto despite the failed first investment

From the highs of feeling like a complete genius to the lows of downward value actions, crypto investing has taken Dubai-based dealer JC Enriquez on a curler coaster journey. 

In an interview with Cointelegraph, Enriquez shared his crypto buying and selling journey, ranging from his first encounter with digital belongings. Based on the dealer, it began when a pal requested him about his plans for the longer term. After sharing his goals in regards to the future, the pal advised him that if he needed to make these plans come true, he “higher examine cryptocurrency, purchase some and maintain it.”

Hyped by the bull market in 2021, Enriquez lastly determined to leap in and begin buying and selling. Nevertheless, his first crypto rodeo was lower than fruitful. He advised Cointelegraph that he invested 1000’s of {dollars} in a single venture after which it went to zero in only a brief time period. He defined that:

“After a number of weeks, I used to be shocked. Their community obtained grumpy after which slowly, they stopped doing developments of their venture. After that, it completely closed.”

When requested how he felt, Enriquez shared that the loss was devastating because it was cash that he and his accomplice was saving for emergencies. Nevertheless, considering that he’ll have the ability to achieve it again rapidly, Enriquez satisfied his accomplice to let him take the chance. He stated that:

“After I purchased it first I felt like I used to be a genius as a result of I believed within the venture. And when the venture went grumpy and all of a sudden stopped every little thing, for me, it was like the tip of the world.”

Regardless of the outcomes of his first attempt, the dealer didn’t lose hope in blockchain and crypto. “I contemplate it as an expertise in order that subsequent time round, I shall be extra cautious, extra vigilant in buying and selling,” he stated.

Associated: Employee quits after red flags at first crypto job, stays in blockchain for the tech

Based on Enriquez, he nonetheless believes in crypto due to developments in Bitcoin (BTC) adoption like vogue manufacturers and airlines accepting BTC. Aside from that, he has religion on crypto’s inherent options like permitting simpler cross-border funds. Regardless of his preliminary losses, Enriquez nonetheless believes that crypto will convey him extra revenue sooner or later. He talked about that:

“I nonetheless imagine in a dream that cryptocurrency will give me extra revenue within the years to come back and can assist me construct my goals sooner or later.”

Studying from his expertise, the dealer additionally shared that he now has a new game plan for trading crypto. He stated that he discovered methods like dollar-cost averaging and has been studying to learn graphs and indicators. He additionally shared that he now does in depth analysis earlier than investing into crypto tokens.