I Lost Thousands in Cryptocurrency...Heres What I Learned

Published: Dec. 21, 2018, 8 p.m.

b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/i-lost-thousands-in-cryptocurrency-heres-what-i-learned\\\\/#arve-youtube-6msfddc1meo659a0b2cbe4f1692911218","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/6msFDDC1mEo?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\n\\n\\nHere\'s 7 lessons I learned from losing thousands in cryptocurrency in 2018.\\n\\n0:00 - Why I started investing in Cryptocurrency\\n1:11 - Lesson #1: Market Cycles\\n3:01 - Lesson #2: I Am Not A Trader\\n3:46 - Lesson #3: My Time Is Better Spent Creating Value\\n4:50 - Lesson #4: Your Risk Profile Has The Ability To Change\\n6:23 - Lesson #5: Life Gets In The Way of Investing\\n7:17 - Lesson #6: I Want To Invest In Passive Income Generating Assets\\n8:43 - Lesson #7: I Believe Cryptocurrency is an Inevitable Technology\\n9:29 - How I Used This Experience To Generate Passive Income\\n11:23 - I\'m Going To Use This To Make Me Stronger and Wealthier\\n\\nRecommended Videos:\\n10 Ways To Make Money From Scratch - https://www.youtube.com/watch?v=FIvRMTXcLbs\\nTranscription:\\nI lost thousands of dollars in cryptocurrency this year. Here\'s what I got interested in investing in cryptocurrency around December in 2017, as you guys may know. That was basically the peak of the cryptocurrency bubble, the cryptocurrency boom where prices went up to over 25,000 Australian dollars. Now that\'s when I started getting interested in it. I didn\'t invest in that price. I invested over a period of the next probably six months and put money into the market at different price ranges. Some prices were over that $15,000 mark. Some prices were under the $8,000 mark, so a variation of prices there, but yeah, bitcoin now sits at about four and a half thousand Australian dollars. I actually got out of bitcoin about a month ago and cryptocurrency. I still have a little bit in it. I\'ve got a business in it, which I will talk about, but yeah, alice thousands of dollars investing in cryptocurrency and he is seven things I learned along the way.\\n\\nThe first thing I learned about was market cycles and man, did I get a crash course in market cycles? Believe it or not, but I actually haven\'t really been through a market downturn in terms of when I\'ve been running my business or when I\'ve actually had money to invest in. I got married in 2008, which was obviously the year of the recession and we made my watch and have a lot of money around that time or for the next five years really, so we would never in a position to go ahead and invest in the stock market or anything like that. So I hadn\'t actually been a part of market cycles. I know being passionate about stock investing, so I\'ve never really looked into that and I\'m someone who is happy to go countercultural, unhappy to go against the norm. So what happened for me was I found out about bitcoin through obviously the price going up and everyone was talking about it, but then I got really deep into what is this, got passionate about the technology and started investing in it because I can see the inevitability of this technology, but I didn\'t understand market cycles and in understand that, oh yeah.\\n\\nFrequent. Obviously at the peak of a market cycle here, now\'s not the time to get in, and so I really got a crash course in market cycles and how they work. Obviously bitcoin\'s down over 80 percent now. Um, I would\'ve loved to have learned about Bitcoin, cares, my money in cash and then because I still believe in it, maybe invested now or maybe a little bit in the future as things sort of bottom out. So I, I know that I am quite happy to go countercultural to market sentiment when I really believe in something, but I just didn\'t understand market cycles at the time and I know that sounds dumb, but that\'s something that I learned.'