You Will Be Challenged
Investing in traditional stocks and other assets is an exercise that requires one to hold firmly to their beliefs. Investment decisions will eventually be tested at some point or another. Consider for a moment how this is amplified within the Crypto realm. A new and developing sector that is yet to find its feet in relation to adoption, acceptance, and regulation. So much is unknown and yet many continue to build and position themselves according to a world they envision, which has not yet fully materialized. What if it never arrives? What if Jim Cramer is right? Although I must be honest, I am not fazed by the opinions of personalities such as Cramer. Once Bitcoin haters who suddenly shifted sides when the numbers became more favorable and Crypto became a multi-trillion dollar industry.
Once again, narratives begin to shuffle and shift as Crypto drops out of the “trillion class”. This is not a coincidence and instead of speaking from a position of conviction, many speak from a position of preservation. The preservation of reputation. Individuals who are “worshipped” by the herd are more likely to take a stance that removes them from potential discreditation.
Put Them To The Test
If you don’t have the best of memories then I would suggest recording the opinions of “influential personalities” who suddenly shift their stance during this bearish and trying time. Once the market shifts at a later stage and everyone is once again high on euphoria, revisit this documentation. What you are likely to find is the evidence of shallow baseless opinions from people you should have never paid any attention to. Oh, how the stories so easily adapt in order to please the present trend and narrative. You require more than this if you are going to survive and stay the course. Your stance will be tested and without conviction you have nothing!
The Fuel Of Tribulation
What enables people to push through difficult situations and challenges? Quite simply, it’s conviction, and a strong conviction at that. Conviction is the fuel that empowers you through a wasteland. When the challenges come it is the very thing you turn to for reassurance and confirmation. This is one of the main reasons why so many fall away during bearish seasons. There is nothing that backs their “investment decisions”. There is no foundation. There is no conviction! One thing you have to give to the XRP army is their relentless unwillingness to back down. It’s admirable, to say the least. You either go down with the ship or you sail away to new and exotic locations.
Much of Crypto falls into this “all or nothing” scenario due to the early stage of the journey in which we now find ourselves. Anything can happen and uncertainty is a constantly unwelcomed guest. You desperately need to have a conviction that is unshakable, a stubborn persistence. This is the reality of Crypto if you don’t think exists will visit you at some point. There will come moments of doubt, uncertainty, and even loss. Will you have the conviction to continue?