Six crypto investment lessons you can learn from Ranveer Singh starrer '83'

Six crypto investment lessons you can learn from Ranveer Singh starrer ’83’

Pic: Film poster New Delhi: Ranveer Singh starrer ‘ 83 ‘ is proving to be an iconic blockbuster of Bollywood in 2021. The mania for the movie is akin to the craze for crypto investments seen this current calendar. Kabir Khan’s directorial skills, a star-studded performance, and a story based on real-life events made a heady concoction on the big screen. It made viewers experience multiple emotions at the same time, similar to what the performance of digital tokens did to investors in the current year. ETmarkets lists six crypto investment lessons readers can learn from ’83’ to hit a six with their investment: Distance yourself from outside noise

The Indian cricket team was ridiculed at multiple points, according to the movie. Even Indians, including those settled in the UK, mocked the Kapil Dev-led team India. No one gave a fair chance to the team. However, Kapil Dev never bothered about what the media, people and critics said. He distanced himself from outside noise. In the movie, he says, “We will answer those questions on the cricket field.”

Using a similar strategy, investors should distance themselves from outside noises such as discussion forums or investment chat rooms. Or they can get misguided and lose focus. Investors should rely only on professional guidance.

Did you Know?

Iloilo City, a city in the Philippines, is the first city in the Asia Pacific where 3 luxury residential properties were sold in exchange for cryptocurrencies in 2019

Most investors flock into the market with a herd mentality, driven by greed and an obsession to get rich quick, says Raj A Kapoor, Founder, India Blockchain Alliance. “However, we see only the glitter and not the grime. For every crypto success story, there are many about the losses.” Watch how the greats behave

The cricketing world keenly waited for the two-time champion, the mighty West Indies, led by legendary Clive Lloyd, to score a hat trick at the World Cup final. All the teams admired their game — be it the wrath of their batsmen such as Viv Richard, Gordon Greenidge and Desmond Haynes or their pace bowlers such as Andy Roberts, Joel Garners, Malcolm Marshall and Michael Holding — and some even panicked when players from the Caribbean Islands stepped into the field. But the Windies’ players were never into bragging.

Investors, too, should take cues from the numero uno players in the market — the top tokens. The crypto community has a strong obsession for Bitcoin, the gold standard of cryptocurrencies. Major crypto tokens follow the movement of Bitcoin, which has a 40 per cent share in the market cap of the digital tokens. Investing without a goal

Team India had a clear motive to win the World Cup. No one gave India any chance of winning and Kapil Dev was mocked. However, the skipper had a goal in mind — win the cup and respect for the nation.

Without a goal, even crypto investments become a pointless exercise. Setting a goal will help you to stay steady as the market goes up, down and sideways in a matter of hours. Investors should have clear and long-term goals with realistic expectations within the given timeframe.

It is advisable to diversify your portfolio and invest in lesser-known value coins as 90 per cent of cryptocurrencies will eventually come down to zero, says Hitesh Malviya, Founder, Itsblockchain. Pick your team carefully

The World Cup winning squad of 1983 scripted its own legacy as the captain chose the players. In the movie, Kapil Dev encourages Roger Binny, played by Nishant Dahiya, to give his best. Binny emerges as the highest wicket taker (18 wickets) in the tournament. The captain also chooses Balwinder Sandhu (Ammy Virk) and Madan Lal (Harrdy Sandhu), who became pivotal with their pace bowling in the final, to demolish the top order of the West Indies team.

In a similar way, investors should pick altcoins with deeper value prospects and hold them for the long term. Investors should select coins that have high community acceptance or backing and regular trade volumes. This will ensure there is ample liquidity.

“If you are looking at a long-term investment, make sure that you stick to the top 10 coins in the market,” Malviya says. “Cryptocurrency is a different market with different dynamics.” Don’t be afraid of jitters

After a couple of consecutive wins against the West Indies and Zimbabwe, India suffered two consecutive losses at the World Cup. First they get thrashed by Australia and then […]

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