"To Buy, or not to Buy, that is the Question."
- NakaWilliam Satoshispeare
These days my greed is bigger than my fear and I don't mean that in a bad way ( I am not uncle Scrooge, far from that ).
I merely mean to point out that I am not affected much by the overall mood of the market any longer, after 4 years in the game.
In fact, seeing all the red / 'blood in the streets' / crypto bloodbath and hearing and reading all the FUD, I wish I had fiat to buy more crypto, as I see this as a great buying opportunity.
No financial advice, just my opinion
To get back to the picture above, the Fear and Greed Index is described as follows:
"Each day, we analyze emotions and sentiments from different sources and crunch them into one simple number: The Fear & Greed Index for Bitcoin and other large cryptocurrencies."
Apparently it was at 12, yesterday, I don't remember having seen it that low ever before. Although I should add that I don't check in on this site daily at all.
I scrolled down and checked the graph over the last 12 months to discover that it reached a low of 10, 4 days ago, and that that score was indeed the lowest number - the highest FEAR - in 12 months time.
In fact, clicking on the red "max" button, you will discover that this is the lowest score since March 2020 and I think we all know what happened back then:
The Covid Crash
Back to March 2020...
I remember being stuck in The Netherlands, having decided to travel there, the month before, to visit friends and family.
When the market ( and Bitcoin ) crashed to about 50% of its value over night, I wished I had money to buy in. Unfortunately, I had very little to spare at that moment in time. I was, like now, already all-in in crypto.
I seriously considered to borrow 5k from a rich friend or family member to buy a full Bitcoin ( and offer to pay it back with serious interest in the near future ) but, having borrowed enough in the past and feeling like I wanted to create my own riches, I decided otherwise.
I had no clue back then that BTC would go to 60k ( 15x ) about a year later, although it didn't surprise me either. Nor did I foresee it go back to 30k this month but, I knew it could happen.
To make a long story short, I have spent enough time on the crypto market to expect the unexpected. I also get better and better at being realistic and discerning FUD from actual news. Funny enough, you could say that most news is FUD, as goes for mainstream news ( outside of crypto ). The latter is more apparent than ever since March 2020.
It's mainly fear that is being 'spread'.
The Importance of Perspective
The main message I wanted to convey with this post - aside from bragging about my own ZEN levels these days - is that it's important to keep putting things into perspective, to zoom out and look at the long term, even more when FUD and especially fear start to take over ( The same thing goes for times of high Greed ).
If you see the news as the truth / literal journalism ( I seriously can't believe people still do this ), you will end up doing what most people do and that is exactly what the big players want you to do. They will win and keep growing exponentially, widening the gap with the 'small' people / ordinary (wo)man even more.
It's up to you whether you want to make this happen or not or whether you decide to see 'challenging' times as opportunities instead.
I would like to end this post by looking back at a previous post that I wrote around the fear and greed index, in February. Funny enough, we had extreme Greed back then at a staggering 95. It's interesting to give this another read.
Even more, knowing that back then, like today, BTC was also at 35k and Hive, for those who are heavily invested in this coin/ platform ( like I am ) was valued around 10 cents ( 40 to 45 cents today ).
Since that particular day in February, BTC has reached a high of around 65k and Hive has gone to over a dollar ( 10x ) and is now back at about 4x the value of February.
I know we can't compare these values, as 10 USD cents was almost the all time low of Hive and 35k was around BTC's all time high in February but still...
If... Then scenarios keep intriguing me.
Find the full post, Extreme Greed - To Invest or Not to Invest at an All Time High?HERE
For now, I advice you to stay ZEN, to keep breathing and remind yourself that life is just a game and crypto probably one of the biggest and most fun gam(bl)es of them all ;<)
Was signed,
SuperZEnsitivosaurus
( not )just another dinosaur on the blockchain.
Find the crypto Fear and Greed Index that I used in my pictures HERE
I also kindly invite you to read my recent The Power of Crypto - How it has helped my twin sister and her family to change improve their life, where I describe how me maintaining a crypto portfolio for them in the last 4 years or so made a huge difference and is finally paying off. People seem to find it pretty inspiring.
SuperZENsitivosaurus: a leveled up version of Hypersensitivosaurus, the friendly velociraptor that I invented, and am writing about, since October 2019
Me neither. I'm in for the longer term so it's a gift to me that I can buy little bits again regularly. I've given up listening to the "experts" too since they change what they're saying pretty much on a daily basis. It seems to me if you know how to read charts you can find an area to pretty much back whatever theory you have today. 😂
I keep Coinbase Pro set to pounds so I have no idea how close to the "important" levels the price of Bitcoin is.
Then I put in a load of tiny limit orders decreasing by a £1000 price each time. I've actually spent more than my budget this month but that's OK. When it goes back up I'll be buying a lot less frequently. For now, I'm just enjoying seeing my Satoshis increase.
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Even the experts don't really know. Or, to rephrase this: Real wisdom is knowing that you know nothing.
As long as your satoshis increase your doing well. Keep sticking to your plan. Although I start to understand more and more why using stablecoins, for part of your investment, is pretty wise too.
Thanks for joining in on the conversation, Gillian :>)
!ENGAGE 20
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ENGAGEtokens.I hear you here man. I haven’t been in it for 4 years, 3 and change but it’s a good amount of time. I was aware of the last bull run and remember the FUD I did trying to get some bitcoin, play the market and get bit hard. I still get a little nudge of the market swing plays but I only got really lucky with that once and am very happy with the result. My recent attempts to do the same however have failed miserably hahaha. I am also aware of the tax implications of doing these so I’m very hesitant of making more trades than I want to, so I don’t get more tax events.
No matter what's the case for you, investment wise, I am happy that people like you stick to blogging and keep interacting, as that is exactly what this space needs. If it was only for the money and there would be no interaction, I would never have stayed for 4 years.
Crypto taxes seem to suck in the USA, which makes me happy that I am living in Portugal ( even though the Dutch tax office / government clearly smells my ( digital ) money, even 5 years after I quit my last job, as I described in yesterday's post, Hammer Time - You Can't Touch this )
Yeah the taxes are a pain in the ass. It’s nothing I exchange for fiat but I have to pay tax on it? Lame. Thankfully buying crypto isn’t taxed yet! Lol. Hoping to get up to a full bitcoin before that happens then I won’t need to buy anymore on exchanges.
Being able to blog and earn, while talking to people about random stuff crypto related but also anything else in the world is one of my favorite things to do! I’m glad for the opportunity to do it and have people like you and many others to interact with. It’s a really awesome thing to have!
Being into crypto in the USA sounds stressful to me. I hope you manage to acquire yourself a full bitcoin in the not too distant future.
Hear hear! :<)
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I've never heard of the Fear & Greed Index before, but I love the concept. At first I thought it was satirical, but after reading I realize it's a tangible thing.
What I am curious about is how they scientifically come up with the numbers. I wonder if it's strictly the market and economy numbers or if they factor in people's emotions by doing random interviews on the street, etc.?
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Yeah, the index does actually exist. Not sure if it's science ( not that I believe much in science these days haha ). I honestly doubt it's based on street interviews and the like but, in a way, people's emotions and overall sentiment are pretty visible on platforms like Twitter these days ;<)
Level-up and bring us with you my dear @vincentnijman !
Upvoted by @hodlcommunity
@vlemon
Haha! I'll do my best :<)
It's so much easier when you don't actually care ;D
J's internal frustration with me, I don't care about money x_x
Yay for Zen :D
Sharing is caring, I guess. The more I make, the more I can give away ;<)
There is always that I guess XD
I'm pushing for a world where everyone easily has what they need and only needs to work on/for what they want
That sounds like heaven on earth indeed. I actually feel that cryptocurrency can help with that, as long as governments don't become too greedy.
Amen to that .....
you get it!