Popular Reddit Posts in the First Half of the Year: Lessons Learned After a Crash, Easy to Know, Hard to Execute for Hodlers, Should You Invest in Dogecoin?

In the final days of the second quarter, the cryptocurrency market crashed, leading to a chorus of lamentations. Many Reddit users shared their own bloody experiences as lessons, offering practical advice, most of which revolved around things only understood after a sharp decline, dollar-cost averaging, and perspectives on a range of meme coins and altcoins.

The article compiled the most viewed and commented Reddit posts in the first half of the year.

Hodler: Easy to Say, Hard to Do

Buying Bitcoin in 2010 Wouldn't Make You Rich, You Would Have Sold Early

Reddit user reddito321 pointed out a phenomenon where people often try to predict the future and lament the "if only I had known" of the past.

He believes that while hindsight may make one feel foolish, the reality is that very few believed in Bitcoin as a store of value. If someone went back to 2010 and told everyone that many financial institutions were buying Bitcoin at prices above $40,000 as a store of value, they would have been seen as crazy.

Therefore, reddito321 often feels frustrated by news like "two pizzas in 2010 now worth millions," as it seems to imply that everyone can predict the future. He concludes:

Don't punish yourself with thoughts of "if only I had known." Invest according to your abilities and hold long-term. Even if you sell too early and miss out on profits, it's okay.

Since Bitcoin was $600, I Always Felt I Was Too Late

Reddit user loc12 pointed out the importance of "hodling" may be more crucial than timing the market.

loc12 entered the crypto market around the end of 2016 when Bitcoin was around $600. He continued to buy some Ether at prices above $10 but stopped at $50, thinking, "It's still too late to get in." He even placed limit orders at $25 because he thought the cost of Ether at the market price of $27 was too high. It wasn't until it reached $250 that he bought in large amounts due to FOMO. He emphasized:

No one really knows what the price will be in 5 years. Something that seems very expensive now could be very cheap, or even worthless. Stick to your beliefs and continue to invest in projects you can afford.

What You Learn from a Crash: Dollar-Cost Averaging (DCA)

Dollar Cost Averaging (DCA) has shown many in the crypto market that it is a viable strategy during a bull market. After a crash, many have realized that gradually taking profits when holding gains is the correct exit strategy rather than trying to time the market at its peak.

Regularly Buy In, Remember to Sell Gradually When Profiting

Reddit user juanjux claimed to have started investing in cryptocurrencies in 2017, seeing returns of about 33x at one point. However, after experiencing a bear market and some poor decisions, he almost lost everything. After a few months of reflection, he began slowly accumulating assets through DCA. During the first half of the bull market, he emphasized:

As soon as Bitcoin surpassed $50,000, my first move was to recover all the costs I put in since 2017. I also used some profits to buy computers, car parts, etc. I still have 90% of the tokens I had, and I won't lose any funds no matter what. I am now calmer about price fluctuations, and even if the market crashes like in 2018, I won't feel like a fool.

Deep Dive into Value Investing, Technical Analysis, Yet Still Lost

Reddit user decopper mentioned that he did extensive research before starting to invest, including previous bull and bear markets, technical and fundamental analysis, all on his reading list, and entered at what he thought was a good time.

However, things didn't go as planned, and it wasn't a good entry point. He also learned that even with less capital, he could have learned the same lesson, and he still had funds to invest during market consolidation. He concluded:

If you're a newbie in crypto investment, you should definitely DCA slowly and believe in the advice given by those who are trapped at the top.

Should You Join the Meme Coin Craze?

Have you only heard about someone making a fortune and not about those who suffered losses?

This May, under Elon Musk's influence, a series of meme coins reached their peak. Reddit user jonbristow commented on this:

You hear about a young person investing $500 in a meme coin and making $100,000, but you don't hear about hundreds of people investing $1,000 and losing it down to $0.1. You also won't hear about those who put in $10,000 but couldn't cash out due to low liquidity.

He emphasized that "feeling guilty for missing out is dangerous due to survivorship bias."

Dogecoin Mints 10,000 Coins Per Minute, How Long Can the Rise Last?

Reddit user TrueSpins was quite dismissive of the Dogecoin trend, pointing out:

Dogecoin mints about 10,000 tokens per minute, around 14 million per day. How long can such an inflationary mechanism maintain a high price? If someone says Dogecoin is the next Bitcoin, I think I would collapse. And what if it rises to $1,000 per coin? Do you know the total circulation of Dogecoin?!

TrueSpins believes that Dogecoin, born out of a joke, with its outrageous supply and inflation, is also part of the joke and warns that betting on Dogecoin could lead to losing everything.

Everyone Was Once a Newbie

Being Arrogant to Newbies Doesn't Make You Smarter, Just a Jerk

NaiwennFr mentioned the phenomenon of veteran crypto players acting superior. While newbies' questions may have been answered thousands of times, treating newcomers with arrogance and a know-it-all attitude doesn't make you seem wiser. Feeling pleased that newbies find it difficult to enter the crypto space makes you a worthless person.

I'm tired of veteran players in the crypto space making unhelpful sarcastic remarks that benefit no one. Their only purpose is to satisfy their twisted ego online.

He emphasized: "Welcome all newcomers."

Popular posts also include many criticisms of following Elon Musk's tweets and warnings not to dance to his tune, but the articles listed above may be more helpful in terms of investment. Just like Taiwanese netizens, sometimes the comments are more intriguing than the articles themselves. If interested, visit the original links for more details.