From Euphoria to Reality: A Nigerian’s Crypto Journey (And What to Do About It!)
November 2021 was pure magic. Bitcoin smashed records at $69,000 and we were all buzzing, dreaming of that $100K moonshot. Ethereum peaked around $4,880, and the air was thick with optimism. I remember our call on $LSS (Lossless): a whopping 20x return in under a month! Some started with just ₦20,000 and made ₦320,000; others turned ₦200,000 into ₦4 million overnight. We were riding high, dancing with profits instead of locking in gains.
Then came early 2022. A stubborn ETH/BTC ratio became the first warning sign with altcoins failing to maintain momentum. And soon after, Russia’s invasion of Ukraine hit us like a ton of bricks. Bitcoin plunged and our portfolios melted faster than ice in the Sahara. The entire crypto community went quiet while bear market blues set in.
I, however, kept showing up. I dropped updates, fired off motivational messages, and kept saying, “It’s not over!” I went back to the drawing board: reworked risk management, crunched endless charts, and connected with mentors. By late 2022, opportunities began to shine again with Solana, NEAR, BNB, LTC, ETH, and more started showing promise. Capital from earlier plays like LSS and Crypto.com helped me build a stable, four-figure stablecoin reserve. I deployed capital wisely, and so did many who followed the same disciplined approach. By the close of 2023, most community members were back in profit, and my portfolio hit a new all-time high.
Then in 2024, the bulls returned. After two long years of bear dominance, the market narrative shifted. I even created a Bull Market Prep Sheet packed with well-researched, strategic picks most of which did a solid 5x. But here’s the kicker: profit-taking once again became our biggest challenge. “Should I cash out now? Is it too early?” I got flooded with messages, and while I offered guidance, many let emotions run wild.
Fast forward to 2025, cracks started to appear. Trump, true to form, launched his own $TRUMP token along with his wife and son jumping in on the memecoin trend. At first, it was a cool twist until we saw how altcoins were already overstretched, and these launches just added noise and uncertainty. Even when an Ethereum ETF got approved, ETH remained sluggish, dragged down by weak ETH/BTC numbers and internal disputes within the Ethereum Foundation.
So, why do I still support Trump? Simply because he’s a pro-crypto president who provides regulatory clarity. Under his watch, clear stances were taken from China’s missed mining opportunities to bringing regulatory sanity that benefitted Bitcoin, Ethereum, and altcoins alike. Sure, tariffs and geopolitical risks remain, but they’ve only accelerated challenges that were already there, such as weak altcoin momentum and internal ecosystem issues.
What’s the Way Forward?
1. Reassess Your Portfolio:
Ask yourself: Do I still believe in the project? Are there too many “flashy” altcoins muddling my strategy? Reevaluate and adjust.
2. Take Your Damn Profit:
Set clear targets, lock in gains, and don’t let euphoria blind you. Don’t be that investor who regrets not cashing out when the numbers were right.
3. Stay Informed:
Global events, especially in top economies like the U.S. and Nigeria impact our portfolios. Follow updates, learn continuously, and use that knowledge to shape your strategy.
4. Cut Losses When Needed:
Holding on to losing investments out of emotional attachment can be your downfall. Have the courage to pivot when the signs are clear.
5. Follow the Team, Not the Hype:
Don’t get swept away by every new token or social media buzz. Trust data, insights, and a proven strategy.
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Actionable Advice for My Fellow Naija Investors:
• Review your crypto and stock positions regularly.
• Set a profit target and an exit strategy for every trade.
• Keep a healthy reserve in stable assets.
• Remember, each decision should add to your long-term financial freedom not just instant gratification.
For detailed strategies, check out our Portfolio Setup & Management Service. And if you’re hungry for more wisdom, grab a copy of Nigerian Stocks 101 and My Crypto Handbook—they break down these concepts in plain Naija style.
WALL STREET NEVER SLEEPS.
Feji Iyeke
Your Money Guy
Feel free to hit reply or drop a comment with your thoughts—what’s your next play in this wild market?