In September of 2017, Bitcoin was trading around $3,500 a coin. I predicted that it would hit $10,000 a piece by the end of the year. I owned 0.75 of a coin. Crypto was hot and I knew there was money to be made. I became overconfident. I started selling high and buying low. In about a month, I turned my 0.75 coins into 1.2 coins. In addition, the value of each coin was now around $5,000. I had doubled my money. I continued this pattern and Bitcoin continued to rise. By mid-November, I had 1.5 coins and Bitcoin was trading above $8,000. I was certain it would hit 10k by January. Absolutely certain.
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When it hit $8,500 I sold with the intention of buying it back when it fell once again. It was very volatile and the patterns of rising and falling were roughly a variation of $1,000 a week. Little did I know, I was not going to be able to buy it back this time. While waiting for it to drop, I watched as Bitcoin climbed. By the end of November, it broke $15,000. Man. What’s even worse, it continued to go up! $17k, $19k Why didn’t I simply hold? Because I got cocky. I knew it would break $10,000, yet I sold at $8,500 to try and buy more. I got greedy and wanted to add to my position to make even more money. Instead, I lost the potential to make $10,000. Bummer.
With Bitcoin over $19k in mid-December, I started trading Litecoin because it was the most volatile of the big three coins. Bitcoin, Ether, and Litecoin. I sold all my Ether and used that and the Bitcoin money to day trade Litecoin. The price fluctuated at a very rapid rate. In the beginning of January, it was moving up or down $20 every hour with an average price of $370. I was buying and selling coins in blocks of ten. I’d buy and sell at variations of $5 or $10 increments. Sell at $380 buy them back at $375 or $370. $365 - $360, $380 - $375, et cetera. For a week, I made about $500 a day. I was increasing my coins and th...