Cryptocurrency
5 Great Lessons Learnt From Crypto Meltdown
By Live Rich Life Free  •  November 20, 2022
One year ago, I dabbled in cryptocurrencies for the first time. I mentioned that "I am excited to begin this journey into Crypto. The excitement is like stepping into a Casino." After barely one year, time has proven me right as we witnessed the crash of Luna, fall of FTX and contagion domino effects on other crypto exchanges and meltdown of cryptocurrencies. Although I am disheartened by many crypto investors losing huge amounts of their heart-earned fiat and cryptocurrencies, and despite personally losing more than 80% of my paltry $500, I believe there are valuable takeaways from this meltdown and this is a good wake-up call. Let me share the 5 great lessons learnt. 1. Fundamentals are important in any investment Unlike national currencies backed by a country's cash reserves, cryptocurrencies are not backed by any government, country or underlying fundamentals. Traditional debt market fundamentals or stock valuation techniques all do not apply. Cryptocurrencies...
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By Live Rich Life Free
The purpose of this blog is for me to share my reinventions of how life should be lived and journal my journey towards financial independence. I believe that life is a story book. Each chapter contains 10 years of our lives. I am moving on towards mid 30s in 2021. As a nobody but somebody, I am in Chapter 4 of my story book. I hope to influence my philosophy of living a rich life freely and healthily with all of you. Embrace the future and empower freedom!
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