Ken Melendez

Kevin Cage, prominent member of the XRP community known for creating informative, fact-based videos published on YouTube, sent out a tweet yesterday expressing his opinion of short-term gains on digital assets. I agreed with his statement, as I do quite often, and responded to the tweet with a small comment of my own as shown below.

Source

Kevin stated...

“The majority that chase short-term gains in this space are going to get REKT”. Rekt of course is slang term meaning defeated or destroyed. It is tough to make short-term gains in this space unless you are an experienced trader and actually know what you are doing. And even then, it requires a mix of good timing and luck. The response I left was this...

“Go long or go home”.

The ones who go after long-term gains are the ones who don't worry about the day-to-day fluctuations as much as the vision of the team and the problems that a particular asset solves. If new investors jump into this nascent market primarily for short-term gains, they are in for a world of pain and frustration. Not to say it couldn't happen, but again, it would require excellent timing combined with luck.

If one is looking at breaking into the industry bringing no investment experience whatsoever, they need to enter in with a futuristic mindset that isn't swayed by the opinions of others, but instead, one that is rooted deep within the fundamentals. Take a look into the underlying technology and compare it to other projects in the space to see if it ranks well or not. Study the people behind the asset to make sure adoption-driving action is taking place on a consistent basis.

Go long or go home. In other words, don't come looking for a quick buck. It is best to either stay in for the long term and ride this thing out, or go home and don't participate at all. The digital asset space is not for everyone, especially not for the faint of heart. If you can, sit back and study the people and the events occurring each week and then make an educated decision on how to move forward.

Those who have been around the digital asset space for more than a year or 2, and who have spent their personal time digging into the core fundamentals, are much more likely to stick around for years to come. This is because by now, these investors truly understand what is being built and can't see the future existing without the adoption of this groundbreaking, non-correlated asset class.

The phrase go hard or go home is the one most people have heard of which means to GO ALL IN at whatever it is you are doing, other wise pack up and go home. The phrase go long or go home is one that I use to refer to the specific mentality an investor must possess in order to be successful in the space long-term. Because let's face it, this space has a lot of maturing to do, which means more time is neccessary to grow the ecosystem.

Thank you for reading.

Take a look at the sign I saw yesterday at a Burger King drive-through...

Continue reading with a Coil membership.