How DCAing turned my life around

tl;dr at the bottom!

Hi everyone of /cc,

I wanted to share my personal 'crypto-journey' and becoming addicted, focusing on how DCAing (dollar-cost-averaging) transformed my approach to crypo/investing and ultimately gave me much needed peace of mind. Hopefully this can help others who may be struggling with or have struggled with similar challenges in the past!

The beginning

My journey began in 2017, where I bought my first $50 of Litecoin on binance after a friend told me about it. I believe KYC wasn't even a thing back then, so aquiring it was easy. I didn't understand anything about crypto, pretty sure I didn't even check the price of my investment at the time, not expecting it to have gained much in such a short time (surprise.. it did!), as I was used to 'normal' investing. After the crash the frequent news articles dissapearead, and my interest in the crypto space faded away with it.

First bull run, becoming addicted

Then 2021 came around, my first 'real' bull run. Bitcoin had just hit 30k and I remember reading about it somewhere, which prompted me to log back in to my dormant Binance account. I sold the Litecoin bought years ago for about $120 (taking profits, if only I realized how important this is) and began doing what I thought to doing 'research', which in reality mostly consisted of scouring Reddit and YouTube echochambers preaching high returns and claiming Bitcoin would go to around 100K. I remember investing in coins simply because I had read or heard positive things about them, without fully understanding the underlying projects.

Worst part is.. this worked, and I quickly made a very significant amount of unrealized profits, which in my mind was actual money that I owned. As a result of this, I got addicted to staring at charts all day, every day. I was obsessing over price movements, reading crypto related news, rumors, Reddit posts, etc. This behaviour became a habit, and I found it hard to step away from the ever changing market.

This continued for months on end, until I finally sold all my crypto after Bitcoin dropped from it's all-time-high to around 25K. I realized that this was not healthy or sustainable for me, spending so much time and energy on something that was out of my control. Unfortunately, my obsession with the crypto market also had a negative impact on my personal life. I missed out on spending time with friends and ruined a relationship due to my inability to set priorities.

Recovery

After realizing all this, I decided to take a step back from crypto. At first it was hard to resist the urge to constantly check the charts and obsess over short-term gains and losses, but things got easier as time went on. I took a hard break from crypto for a couple of months until late 2022, spending these months mostly reading and learning from my mistakes.

Around this time I got fascinated with blockchain technology in general. I also felt like I was educated enough to start accumulating again. Instead of trying to time the market, I started investing a small amount every week, and it has been one of the best decisions I've ever made for my mental and financial health.

What DCAing did for me

DCAing has helped me to avoid stress and anxiety of trying to time the market, while still allowing me to benefit from the potential growth of cryptocurrency and blockchain technology in the long term. Furthermore it has helped me to stay disciplined and set priorities, rather than getting distracted all the time. Five minutes a week is all I need nowadays!

Thank you for reading this far! This is just my personal experience, I hope that my story can be helpful/inspiring for others who may be struggling with similar issues, and that it can provide some insights for those who are new to the space.

tl;dr

Became addicted to crypto investing during the 2021 bull run, realized the negative impact it had on my mental health and personal life. After taking a break and educating myself I started DCAing. Best decision I ever made!

Would love to hear everyone elses experiences!