It’s How Temptation Works
Many begin very ambitiously upon their Crypto journey but are ill-prepared for the reality of a bear market. Many new participants find a 10% loss enormous and are literally devastated by a 30% drop. Once their beloved altcoin moonshots give up 90% to 95% of their value, their emotional well-being takes a heavy knock. They are unable to deal with it. It is like any kind of suffering, the temptation is to get away from it, cast it away if you must. Sell what’s left, just get away! That’s unfortunately the temptation that many fall into. However, the temptation to quit always comes at the most opportune time.
The Second Suffering
What then transpires is the eventual recovery. Bitcoin begins to surge once again and altcoins begin to rise, the ones that survive, that is. Those who left in emotional tatters now hear and see the news clips of Bitcoin surging yet again. Here begins round two of suffering and torment. These once investors now begin to torment themselves, wishing that they had never sold. Just as they were getting over their devastating loss they are struck with yet another blow from behind. I say behind because they walked away, they thought they were done with having to process the negativity of their Crypto experience. This goes on for some time, as they continue to see prices rise. This gives way to a reverse reaction.
The Second Temptation
After surrendering to the initial temptation, they once again find themselves in another tempting situation. Eventually, they cannot take it anymore! Watching the gains pile up for others and not for them. Once again, they give in to the temptation and storm the market with fresh capital. Ironically, this is the time when smart money begins rebalancing. Profits are being locked in, as alts are converted to stablecoins and cash. The market begins to top out and so begins the great deception. These new investors are unable to process the fact that they missed it and ultimately give in to a deceptive form of hope that is the doorway to repeating the cycle from the top again
You Won’t Believe It!
Yes, some actually go on to repeat the exact same process and put themselves through yet another excruciating experience. However, there are those who manage to identify their errors and as a result, don’t experience too much pain this time around. There is much to be said about walking this path with those who have walked it before. The wise learn from the mistakes of others. They are teachable and begin planning for the next cycle. These are the future success stories.
This is just a brief breakdown, as experienced by newcomers. For those who have traveled this road before, you will know that it can get rather intricate once you begin strategizing for different scenarios and outcomes. Thanks for the visit and see you in the next one!