Missing the start isn’t scary—it’s chasing the highs that can be deadly. In a bull market, the biggest losers aren’t those who didn’t get on board—they’re the ones who jumped in after prices tripled. The pattern repeats again and again: no one believes when the rally begins; by the time everyone’s shouting, “This time is different,” the risk has already reached its most crowded peak. This is especially true for altcoins—you thought the first doubling was expensive, and only when it hit five times did you finally give in… only to become the last buyer. The most dangerous emotion isn’t the anxiety of missing out—it’s the panic of “If I don’t get in now, it’ll be too late.” This panic makes people abandon all discipline: ignoring valuations, skipping dollar-cost averaging, and going all-in in one move. Those who miss the start lose only opportunity cost; those who chase highs lose their principal. Opportunity cost can be recovered—once your principal is gone, it’s gone for good. What if you truly missed the start? Don’t chase—wait for a pullback and enter in stages, or simply adopt a dollar-cost averaging strategy and extend your time horizon. Markets never move in just one day; those who rush never make big profits. There will always be another opportunity. What’s truly scarce is having your principal intact when that next opportunity arrives.