BINANCE:BTCUSDT Bitcoin / TetherUS
Just a reminder during these rough times in the market to not be scared and do not let it effect you emotionally, or impact your life. I know I like to ‘brag’ that I called this crash and took profits etc but that’s only to piss off the people that hated, it doesn’t mean I don’t care about everyone and don’t want the best for those who were simply misled or still new to the markets. We all make mistakes, and unfortunately we must all at some point in our lives end up getting rekt or obliterated mentally and financially both within and outside the markets. It’s a learning curve we must all face... and believe me... I’ve had my fair share of being brutally fisted by the markets.
If you’re in heavy losses, it’s probably not wise to be cutting them off the table now. If you’re at a point where your holdings have basically become worthless (especially if holding alts) then there’s not really much point in selling back to fiat for pennies now. It’s an unfortunate circumstance, and whilst it’s unlikely we’ll be seeing the very highs again for quite some time.. it doesn’t mean they won’t return again at some point in time. Use this all as experience to learn from. The crypto market has amplified in comparison to other markets, which of course has pros and cons. Similar to those disclaimers for leverage trading where they state wins and losses are amplified, it’s technically a good thing to suffer these downfalls sooner rather than later.
The majority will panic-sell, call the market a scam and try to gamble it all back, delving into deeper losses and pain. The minority who eventually succeed will learn from their mistakes and understand money is merely a byproduct of their own actions. If you can evaluate your actions (buys/sells) and understand what caused the losses, you’re raising your own awareness to avoid making the same mistakes next time around. Don’t rush the process to recoup what’s lost...
If you’re in such a predicament, the focus for you should be patience, and slowly but surely positioning yourself at much cheaper prices to counteract buys at the expensive prices. You may not recoup all the losing positions, but there’s no reason why new positions cannot eventually get you back to where you were and beyond that realm towards profitability.
On-chain metrics are showing $20bn+ in realised losses on BTC alone... as we hit the holy $20,000 region. Those within that metric are under emotional distress, and will likely jump straight back in the moment the market makes the slightest of movements higher. When it goes down again... they’ll panic sell once more after failing to take profits again... leading to further pain. Same shit different day. The sheep will always get slaughtered. Look at what the majority are doing and always do the opposite... bull run experts have vanished with the crash... which proves the point that the sheep following the trends do not sustain over the long-term.
My goal both for members and the public is to always ensure value is delivered and you’re being educated correctly. Having a look at the fear and greed index today I thought it was worth sending a little reminder to stay calm and make sure it’s not taking a turmoil on your life. It’s painful yes, but it’s only temporary. It doesn’t mean your life is over or that you’ll never make it all back. That will only be the case if you let your emotions win and consume you into destructive thoughts.
At the end of the day, money comes and goes, it’s available in abundance, it can always be made back. You’re fortunate to be alive at a time to participate in a historical and disruptive sector. A market that has the capability to make you fortunes in a space of time far quicker than anything else we’ve seen before. The only way to harness the power and benefits it provides is to invest in bear markets, not when it’s already going up, by then you’re too late.
Short-term losses shouldn’t lead to long-term suffering. Be sensible with what you’re investing into the market.