BTC is currently at 66K, attempting to rally again. At 74K, many people believed the market was primed to reach 100K, so they threw in all of their money, only to be met with that correction. It is shocking, I mean, to be clueless when it appears that you have all the information you need to make the right decision. Crypto feels unfair, especially when you believe you have made the right decisions, devoting the bear market to gathering funds here and there, only to be undone by a single mistake.
It hurts even more when we think about the possibilities we could have made a reality; it is like having the future in your hands and messing it up. We are more angry at things over which we have control, especially when we believe we can do better. Life does not come with a pamphlet; we learn as we go, but learning is difficult; either we become lessons for others or others become lessons for us.
Learning Curves
People are learning curves for themselves, but it hurts when the consequences of our actions turn into a serious learning expedition for others. Not everyone will become wealthy through cryptocurrency, and the most unfair aspect is that even the most dedicated individuals will suffer losses. It is not because of anything they did wrong; it is because of circumstances beyond their control. It is like eating well, never drinking alcohol, and still developing fatty liver disease.
Sometimes It's Just Bad Luck
Two prominent Nigerians died recently, according to news reports. Many people may believe that they were careless with their health and diet, but this could simply be a result of bad luck. I know many people who have eaten recklessly, smoked harmful substances for years, and their health is still intact. I am not saying people should not be intentional; I am simply saying that some people fail regardless of their intentions.
The Whole Sentiment Reflects Our Reality
For example, some people purchased BTC at 36k in November and sold it at 74k in March, not for the first time, and made a profit. This does not make them gurus. Life creates or destroys, and sometimes it has nothing to do with your efforts or lack of preparation. Indeed, it (crypto) reflects our sentimental reality. One simple burst of sadness or happiness can upend everything we have worked for, which feels harsh, but it is all part of the game. Life is a game, and sometimes the decisions we make are simply calculated gambles.
You Should Do Your Part
Nonetheless, we must each do our part. In the Bible, *Mathew 25 discusses the parables of the five wise and five foolish virgins. Five were ready, five were not, and the consequences of their actions caught up with them (the unprepared). Although life can be unfair or fair to anyone, that does not mean we shouldn't. I was born with this chronic condition, and I spend the majority of my time blaming my parents and the essence of my existence. You live carefully, eat well, and still end up with health complications that are completely out of your control. It is like fighting to avoid defeat because you know you can not win.
However, winning is subjective,
and aiming to win can be one's Achilles heel. So, most of the time, I just tell people to try to be comfortable because in the pursuit of success, they become greedy, ask for too much, and lose their position. For example, many people lose sight of why they are chasing crypto profits in the first place: to be comfortable, wealthy, rich, super rich, or to escape poverty. Sometimes I believe that knowing why you are looking for gains influences your attitude toward the market.
Why Are You Chasing?
People who want to save money to start a business or escape poverty do not gamble on the market; instead, they go for it and take whatever small gains they can get. Even if you are extremely fortunate or unlucky, it is critical to know who and what you are, stick to your plans, and understand your limitations. It is true that the alts are not doing well. BTC and meme coins appear to be performing the best, but think carefully before moving assets. Control what you can and hope for luck.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using InLeo Alpha
!DHEDGE
!discovery 25
Thank you bro
One must understand what they're doing before jumping into crypto! I've been in it for years and I know the ups and downs. I'm going to be jumping into Thor chain next I think, meaning lots of research but that's how you keep your mind busy. At least I do! Great post!
How's everything going for you?
That's exactly how you keep your busy. Making research is not easy too, it takes a lot and some people will rather not. Goodluck with your dabbling into thorchain and hope it becomes profitable
You can't control everything and a lot of unexpected things happen. Honestly, I think making a profit is good enough for most people. You can't do anything what happens after that. Sure, you might regret things if things go further but not taking any profits could be worst. After all, you could be stuck holding throughout a bear market and selling out of desperation with a loss.
It's never an easy business, crypto. A lot of unexpected things happens like you've said. I think the coming bull market might take a lot of people by surprise.
You said it all, know why you are here in first place and stick to your goals, if you take the approach of a person who has different goals from yours, you may end up not getting your desired outcome.
The dynamism of crypto is a challenge I am yet to fully understand.
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No other words truer , you nailed this
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Without this basic understanding before getting into crypto, one can unintentionally mess up their whole journey and have little to show for it in the end. I think controlling our emotions at all times is necessary with crypto, to be rational and realistic as much as possible. Aiming to win can definitely be our Achilles's heel, since we move way past the mark that we initially set our for ourselves.
Also, it is not good to be greedy. We al know that it is possible for the price to go up again but some people want it to go up very well to the point of getting to $200k instead of them to take some profit now and even buy when it is lower
Also, making research is very important