So, we had a rocky beginning of the year. Bitcoin is breathing heavily around 41k, barely holding, and Ethereum is close to lose the 3k mark. Hive is not doing well either, hovering around $1.2.
I think it's fine to say the market is misbehaving, at least.
It's easy to lose hope, to give in to emotions (read: it's easy to give in to fear of loss) and that's totally understandable. What would we, humans, be without emotions?
Every experienced trader out there would tell you how important is to "master your emotions". I don't quite get this, but let's say I do: I don't agree with it.
I think the trick is not to master our emotions, but our actions. It's ok to be afraid, to feel hopeless and lost. What's not ok is to act like this will actually happen.
Because you have absolutely no way to know if this is actually going to happen. All you have is a narrow time window, which keeps moving forward. That's all there is to it.
Acting like this already happened will tie you to this narrow time window forever. Not acting like this, not giving it to the first emotional impulse, will expand that time window. Tomorrow is another day. Who know what will happen then? Let's take a step back and wait. Let's not tie ourselves to an action which will produce undesirable results.
So, when markets are misbehaving, waking all those monsters sleeping under our beds, it helps understanding that what you look at when you look at the charts is just a potential. It's not happened yet. It may look like you lost something, but that's only if you actually do something about it, if you sell. If you don't do anything, the potential is still there.
Of course, if this is money that your survival depends on, I'm sorry, but you shouldn't put it there in the first place. And obviously, this is not trading advice, just some musings.
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Emotion will come but I believe, trade and investment is all about patience. Market will always bull and also sell. Patience is the key.
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I am trying to fix in my mind the idea that this is the time to focus on building foundations. As some people say, "crypto is on sale" which would be fine if my RBC credit card allowed me to buy crypto with it! ;)
It's always a challenge to focus on medium/long-term value in crypto, specifically because of the swings (both up and down). Knowing and remembering how fast something climbed in value will hijack a lot of your attention, and create a lot of expectations. In "traditional" startup building, the initial foundation period was more linear, and you could have spend more focus on the actual tools and services.
But hey, every evolution comes with ups and downs.
Nicely said man, no matter what kind of trader you are there's some element of holding and understanding you can't predict everything that is required.
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Well, you are right even though we may feel scared it is not at all wise to invest money that is to survive every day.
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