Sorry that I have not written anything about the Crypto stocks off-late. The reason being, I am just not interested in the space anymore. To be honest, I have completely been out of the crypto space, be it Bitcoin, Ethereum, or ADA. I’m no longer tracking the prices or want to invest in the currencies anymore.
Talking about the crypto stocks, just look at the stock price of MARA, RIOT, Bitfarms, Hut 8, or any of the crypto stocks, be it in the US or Canada and the story is similar. When you compare the trend, promises, and the YouTuber’s (like empire builders) covering the crypto topic just last year, the amount of coverage was huge. I had my price targets too and had invested some money into the crypto stocks. But eventually, I just got too bored looking at the financials of these companies. It just doesn’t make any sense anymore.
If I had invested the same amount of money in say Apple, AMD, NVIDIA, Tesla, or Google, the returns would have been huge.
The problem is not just with one crypto company going down or the results bad, but all of them!! None of the crypto stocks have done good, which is really sad. I still remember people eagerly waiting for Bitfarms or Hut 8 to hit NASDAQ. Crazy times!
What I personally feel moving forward for anyone reading this post…
If you are a crypto enthusiast, please stay away from crypto stocks. It makes zero sense now to still believe that these companies will do any good in the short or long run. All they (crypto companies) did was to show us losses with no EPS growth or profits and just that.
Anyways, I am out of all crypto stocks from my portfolio and I hope you have done that too. I got out way sooner before the red hit the crypto market. Lucky me and thanks to my instincts that we are going nowhere with this investment.
The positive news is that there are a ton of excellent stocks out there that can recover your losses, in case you did with the crypto stocks. Just don’t get too deep into this. You’ll only regret it later.
Also, the other lesson to learn here is that never invest more than 5% of your portfolio into one stock or one industry such as Crypto. I still remember Empire Builders making a couple of millions from MARA video 🙂 Often what happens is, during the AMC or Gamestop craze, we all get greedy and want to just go all in to make the giant returns and end up gambling and losing. Instead, always follow the basic rule of never over-investing in these idiotic companies which you might lose any time. These are never blue chips in the first place!
Instead, look at returns from Apple, Alphabet, and Microsoft, it’s still green and will continue to be so. We should instead be greedy in buying these, isn’t it? There are a ton of other good stocks too.
Please always stick to the investment basics, diversify and invest with caution. Especially since it’s December, a lot of year-end profit-takings will happen, since it’s the end of the financial year, so please be careful and wary of any new investments you might be planning for. Also, always and always invest in blue-chip companies so that you never end up sleepless, deep into losses, or worrying about the investments. You can implement the DCA averaging to bridge the gap, in case need be. And always have a plan for entry-exit positions. Buy low, sell high.
One last thing, You can also swing trade for certain stocks, but the problem is you never know the market sentiments and direction. So better be extra cautious with margin and leverage trades and don’t end up losing. You don’t gain that’s still fine, but please don’t lose. It’s extremely hard to make money out there. We have all seen that.
Thanks for reading, In case I don’t write any more articles for the month, that’s a merry Christmas in advance from my end, and a happy new year! Stay blessed.
Thanks for reading! Please let me know your thoughts and comments below.
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Sagar Sridhar is a personal finance blogger from Canada. His genuine passion for personal finance coupled with his unique style of writing is what stands out. Professionally, he is a computer engineer, agile certified and has a master’s degree in Project Management. His writing has been featured or quoted in the leading Canadian publications such as Credit Canada and many other personal finance publications. While he is juggling between his day job and blogging, he is the main author on this blog and has miles to go before making the final pit stop.