With The Current Crypto Madness Do You Still Believe In Smart Money?

We have all learnt lessons from people’s experience this year, even though some of us didn’t lose money, I have learnt a lot. I will consider myself really lucky for dodging three crypto failures this year. One of them is the Luna crash, when Luna was hitting it big and making it in the media as the perfect coin making a lot of people the perfect money, I was tempted to scoop some based on FOMO. I got so lazy trying to do my research, because I love doing my research before investing. That laziness delayed my Luna investing till it crashed. That was how I dodged bullet number 1.

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Then bullet number was Celsius, I have been saving my money in Celsius and Nexo for 3 years because of their juicy daily incentives for saving with them, I had this nudge to remove my money because some of the money in it were majorly XRP and I have been saving with them before the XRP SEC case, due to the fact that XRP might be extremely volatile if the results come out and Celsius doesn’t have any means to sell or convert coins to StableCoins, I decided to move my XRP else where. Hence the reason I dodged the Celsius bullet too, grateful for that.

Then FTX, I fell in love with FTX, due to their acquisition and achievements last year, I felt FTX might just be the next Binance, and FTT might be the next BNB, this made me focus my attention on FTT, I wrote a lot of article about FTX and FTT, I even staked my FTT tokens in FTX. I was so confident in FTX and the CEO thinking I was participating in the smart money world. But once again, I got lucky, and decided to move all my holdings on FTX to another exchange and spent some of my tokens there because I wanted to treat myself nice in this bear market. Best decision I made this year.

When I was making all these decision in the past, they felt like smart money decision, this has broaden my perspective on the idea of smart money, I dont think there is anything like smart money, a year ago we all thought that celsius, voyager, 3AC, Alameda and the rest of the companies that failed this year were smart money companies, but look at them, they all made terrible money decision which led to the loss of billions of dollars. They all played an unfair game, which didn’t go to their favour, if it went according to their plan they would have been called smart money makers, but now it didn’t work and they all lost, its called dumb money. This has taught me that I should focus on thinking on myself and stop feeling that all big name crypto companies are crash proof. FTX and voyager taught me that.

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