What we learned about crypto in 2022?

Before we can set sail towards a brighter future, it is important to take the time to look back at the past year and recognize all that has taken place and how we dealt with it.                                                                         

This self-reflection will give us the wisdom and insight we need to make meaningful decisions as we move forward.                                                                                                                                                          What we learned in 2023 about Bitcoin?                                                                                         

Here are some bullet points of things I learned in crypto this year:                                   
• 2022 Showed us that "Smart Money" Makes Big Mistakes.                                           
I recently watched a clip online that contained an interview with Kevin O'Leary. As I watched the clip I thought about all of the other famous news investors and financial advisors who heavily pushed FTX despite the warning flags.                                                                           
Some of these financial influencers were paid to promote the crypto businesses they support and these people are considered "smart money" people.                  
One of the biggest lessons I have learned from 2022, is that ''smart money" regularly loses their own money and other people's money.                                         
When they lose their money, it is easy for them to recover because they were often paid more than the sum they invested into the company/crypto/business.              
The truth is, fast money comes and goes just as fast.                                                                 
Whether it is in stocks or crypto, the best way to build wealth is not buying up a bunch of tokens or stocks during their all-time high and use your head, the right head.                                                                 
It can have a better outcome to work on building up assets over time.                            
Formulating a personal budget, managing risk, and creating investment plans are slow and steady methods that will lead to financial freedom.                      
Creating a budget is key for organizing your spending and saving for the future.    
I personally keep track of my monthly spending, income, and expenses on a spreadsheet and put in goals for how much I would like to be able to invest per month.                   
Risk management is a must for understanding different types of risks, estimating costs, and building strategies for managing them.                                              
It is important to have an investment plan tailored to your goals and needs to ensure you are investing in the right places. By taking these slow and steady steps, individuals can plan for the future and make informed decisions to reach their financial goals.                                             
• 2022 Showed us the Importance of Doing Due Diligence.                                          
Never blindly trust any influencers or individuals without involving "due diligence". Do not believe me. Make your research! :)                                                                
Doing research and due diligence on a company or investment is a vital step to ensure that your hard-earned money is in good hands.                                                               
When evaluating an investment opportunity, the idea is to gather lots of information about the company — their financials, management team, operations, products and services, competitive environment, and more — so that you can make an educated decision and feel confidence in investing.                      
Doing this does not eliminate all risks, but it can help.                                                       
By taking the time to understand the risks associated with a venture, it can increase investor confidence.                          
• Don't Put All Your Eggs in One Basket.   
I have noticed a pattern when I look at various investment groups and figures on social media.                                                       
Crypto people seem to have poured heavy amounts of cash into crypto, and so when the bear market took place, they lost most of their asset value.                         
Real Estate people, I notice just focus heavily on buying homes.                                   

Stock people diversify – but into shares. If the overall market is down, generally, most stocks are down.                                                                                                                             The most important assets are your skills!                                                                                    

I personally chose to invest in farmable land, precious metals, crypto,  dividend stocks, high-value assets (this can be a property, anything that generates residual income / cash-flow), and personal skill building.                                       
The reason skill building is important is the more things you can do yourself, the less money you will need to spend on others doing it.                                                                                                                                      Either money or time must be spent.             
Even within crypto itself, diversifying in more and different assets can be helpful.