How Self-Belief Can Change Your Crypto Fortune Over Time

(MENAFN- Khaleej Times)

When I committed to crypto in earnest in January 2023, my only goal was to learn about it so I could recover the $7,500 (Dh27,546) I'd lost over the years investing in it. Those losses, like so many others in my life, came from doing all the wrong things - buying projects without understanding their purpose, buying high, selling low, having no idea how markets worked, and just generally getting caught up in the fear that floods financial markets in general, and the crypto space in particular.

Having made a lot of financial mistakes over the years, I admit that I was also intrigued by the possibility of making big gains quickly during“alt season”. So, I joined a few communities, took online investment and crypto courses, and started buying coins I had owned and sold during earlier crashes, including Bitcoin. Although it took a while to figure out the logistics, I eventually diversified into some more promising but risky altcoins, too.

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So much has happened in these past 18 months: crypto has momentum, many legal hurdles are being lifted, and, of course, there is now mainstream adoption by the very institutions that once said it was dangerous. The forecasted 'alt season' - where big gains can be made on risky, small-cap projects every four years - at long last seems to be here. Portfolios are up, enthusiasm is high, marketing is coming online, and bullish news keeps rolling in. The Trump White House has reversed years of US crypto regulatory freeze. This summer, it released a long-awaited crypto roadmap and followed it up by approving crypto to be included as part of the government retirement plan. There is even a 'crypto' section on the White House website - a once unthinkable acknowledgement. Companies are adding Bitcoin to their balance sheets and governments all around the world are stacking Bitcoin and other cryptocurrencies. Institutional investment firms are recommending their clients hold Bitcoin, and even other digital products. At the time of writing, Bitcoin is testing new all-time highs, there is an increasingly acknowledged supply shock for Bitcoin, Ethereum is on the move, and long-standing legal battles like the Ripple case with the US Securities and Exchange Commission are finally being resolved.

Personally, I watched my portfolio drop dramatically through a series of geopolitical uncertainties, and learned to manage the fear that comes with market dips to the point where I look around with curiosity. I think I have the skills to manage the excitement, too. I now have strategies for the next six months, two, five and 10 years. I made my own spreadsheets, am curbing unnecessary spending so I can invest more, and I have monthly 'money dates' with myself that are actually fun. These are things that would have caused panic in the past, things that I couldn't accomplish in decades of trying.

I'm invested in projects with value, which are moving real-world assets onto the blockchain or operating in other interesting sectors, including decentralised science and gaming. There is no chasing of green candles or the next hot project, or meme coins, either"

The anxiety I once felt every time I met with or even emailed a financial advisor is gone. Sometimes, I choke up when I think about those wasted years, when I could have been standing in my own financial power and building real wealth. But I had lessons to learn. I read a line in Robert Kiyosaki's CashFlow Quadrant this summer that floored me:“Money doesn't stay with people who don't trust themselves.” Boy, was he right. And as the positive mindset writer Neville Goddard said:“Do not waste one moment in regret, for to think feelingly of the mistakes of the past is to re-infect yourself.” I trust myself now, and that is all that matters.

I'm invested in projects with value, which are moving real-world assets onto the blockchain or operating in other interesting sectors, including decentralised science and gaming. There is no chasing of green candles or the next hot project, or meme coins, either.

I'm also in a group of fascinating people around the world who support one another. In my“real life”, I still don't know anyone who does this, so it feels like a parallel reality. As Benjamin Graham writes in The Intelligent Investor, when it comes to our finances, we don't follow a herd of strangers. But a few select ones can sure make a woman feel less alone.

I accomplished my goal of making back that $7,500 long ago. And whether alt season plays out or not, I feel more comfortable with where my investments are today than at any time since I opened my first investment account almost 30 years ago. To me, that already feels like true wealth.

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