26A – Celebrating Failure
I failed terribly at investing in bitcoin. Bitcoin was something I had been hearing about for two years now, and I never believed in it. It wasn't until early December of 2017 that I was really interested in investing, but I still didn't. Then around Christmas of 2017 it had almost doubled since early December, I was really kicking myself in but for not investing. Then it came down to about half and started rising again. I thought to myself that enough was enough and it was time for me to pull the trigger. I invested a good amount of money into it, from fear of missing out on the gains. Unfortunately shortly after some announcements were made and bitcoin went down a lot. I lost almost %70 of my investment.
I learned to not invest out of emotions. I learned to not invest because that's what my friends were doing. and more importantly, I learned that I should really do research on something before investing. I'm glad that I only invested what I was willing to lose - a phrase that my bitcoin friends always told me. Because, through this experience, I saw the true value of that phrase. I also learned a whole bunch about cryptocurrencies.
The way to handle failure, in my opinion, is to not even see it as a failure, to begin with. These are all lessons.
I learned to not invest out of emotions. I learned to not invest because that's what my friends were doing. and more importantly, I learned that I should really do research on something before investing. I'm glad that I only invested what I was willing to lose - a phrase that my bitcoin friends always told me. Because, through this experience, I saw the true value of that phrase. I also learned a whole bunch about cryptocurrencies.
The way to handle failure, in my opinion, is to not even see it as a failure, to begin with. These are all lessons.
Although you lost a lot of your investment, I think its great that you had this learning experience. What you learnt was very valuable, and your outlook helps you in the future as you see it as a lesson and not failure. My failure was not to do with money or anything but to do with my swimming career but I tried to find the positives of the situation which seems like what you have done as well.
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