Uncertain about the crypto market? J. Belfort, “The Wolf of Wall Street” Has These Survival Tips For Us All
By now, I’m quite certain no one is a stranger to the fact that the cryptocurrency market is going through the toughest of times as it is. There are several predictions; the vast majority of which are unfavorable. Most investors are unsure what to do next: should they withdraw whatever remains of their now-depleted investments? Should they put their confidence in the possibility of a bull trend?
In all of these predictions and nuggets, Jordan Belfort; a former stockbroker, also referred to as the “Wolf of Wall Street”, Jordan Belfort, has come out with some of his own nuggets in the hopes that they may aid someone in need during these tough times.
Whatever you do, don't let panic cloud your decisions
This was technically the last on the list but I chose to make this number one because this is where most people make the most mistakes. Every slight tremor or downturn in the crypto market sends people into a frenzy. People are unsure whether they should sell or buy. Some individuals sell everything they possess right away to minimize the chance of losing all they own, while others simply run helter-skelter to "buy the dip."
“Right now, you’re ready to panic and sell your Bitcoin and your Ethereum. I’ll never tell you what to do, but you need to take a deep breath and get sober about this, and not play into the panic.<…> The entire world of crypto is paralyzed by fear, so does that mean you should be out there buying in droves right now? Well, I’m not saying that, but I’m saying that if you go back in history, these are the moments in time where the most money is typically made in the market now,” said Belfort.
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Give it time, Afterall “Time & ROI” are brothers.
I read an article titled “Time and ROI are brothers” on Hive(but I can't remember where), and it makes so much sense to me now.
J. Belfort, the Wolf of Wall Street, has stated that Bitcoin is not a g get-in-and-get-out-rich-quickly scheme(not in these very words though). He describes it as a long-term investment. After all, Rome was not built in a single day. He also added that investors should strive or learn to leave their crypto for up to three years or more in order to achieve the desired results.
In simple terms, the investor is advising other investors, to remain calm and leave their cryptocurrency alone for an extended period of time. He, like me, is one of the few who believe that it is absolutely not over for cryptocurrency just yet.
According to Belfort, Bitcoin has strong fundamentals that make it more attractive in the long term. Notably, as reported by Finbold, Belfort asserted that Bitcoin is bound to keep rising while acknowledging he was wrong on his initial projection of the asset going back to zero.“If you take a three, four or five-year horizon, I would be shocked that you didn’t make money because the underlying fundamentals, I believe, are really strong, and I just think it’s a matter of time that you know where enough of it gets into the right hands; there’s a limited supply,” he said.
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What Are Your Thoughts?
Thank you for reading!
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