Here we are on the cusp of 2023, and I hope you guys are not facing a situation where a friend or family comes up to you saying "hey bro, what happened to that internet money you advised me to buy last year?!"
That would be a bit embracing question, wouldn't it?
Jokes aside, folks, It's has been a brutal year for cryptocurrency. From the Luna fiasco to the FTX collapse, a series of events took us with the crypto market by a wild storm. The bitter truth, though, is that there is no guarantee that 2023 will be any better...The writing is on the wall already…
Everyone is losing, not just crypto:
As we say goodbye to 2022, there are a lot of people on Twitter and Youtube saying goodbye to BTC. They think the crypto party is over and the only thing they should start their new year with is getting rid of their cryptocurrencies.
This is funny because just last year, most of those very same people were the most bullish of all. It gets even funnier when you remember that this is a traditional and repetitive situation in the crypto world. When it is a bull market, everyone is piling in and rushing to buy the overrated top. When the bear shows its head, however, the very same people panic into selling at the lowest-ever dip!
Looking at this kind of traditional situation begs one question...Do you really have control and authority over your own decisions? Do you really consider yourself free to do whatever you want with your funds?
I know it may sound like a silly question at first, but bear with me for a second and look at the crazy truckloads of negative headlines that the main media is offloading upon us. The ones that go like: crypto Moguls lost $116 billion in 2022... Bitcoin is on the cusp of a "death cross"... miners are shutting down... celebrities are leaving crypto...regulators are coming... the FTX rabbit hole gets deeper...Blah blah blah...I'm sure you guys have read one or more of these doom and gloom
Well, I know that crypto giants lost billions of dollars during 2022, the likes of CZ, SBF, and Bain Armstrong, but the fact of the matter is that they were not alone who did so. Other wealthy from outside cryptocurrency were on the very same ship.
For example, Facebook’s Mark Zuckerberg lost a staggering $87.3 billion in 2022, Amazon’s Jeff Bezos also shed 65.7 billion, Google’s Sergey Brin ate a $38.1 billion loss too. Heck, Elon Musk himself lost a whopping 123 billion this year.
The harsh fact of the matter is that almost everyone lost money in 2022, not just crypto investors. It's possible to attribute this to many reasons- perhaps the most obvious one is the wild rate-raising pattern that the Fed insists on. Of course, the headlines which have been trying to frame crypto as a big failure care a little about pointing out that thing. No one really reads the stories these days. It is a lot easier to act on a title.
This is exactly why I think the main media is always trying to sway and distract small investors from the real facts, and while I don't want to look paranoid, it honestly feels like a coordinated assault. They want to brainwash you. They want to rob you of your control over your own decisions.
In my humble opinion, this is the only logical explanation as to why we're seeing such waves of negative headlines. However, if we're to take off our "tin-foil hats", there is one thing with real substance here which is the fact that we've been here before...BTC has been here multiple times before… 2013, 2018, and 2022… Nothing new... BTC is just moving just as it has always used to. On the very same pace, on the very same trail...
Game Of Patience
This is something I keep reminding myself of every time I feel the heat of FUD running through me. It's just a game of patience, and the ones who can ultimately make it through to the next rise are the ones who will laugh in the end.
Patience generally is the nuance that splits the gainers from the losers in all crypto and stock markets. I hate to quote Warren Buffet but he once said a golden line that goes:
The stock market is a device to transfer money from the impatient to the patient
The winners of all markets are the ones who can buckle in tight and make it through the volatile waters of the bear markers, the ones who are patient, consistent, and able to come up with their own plans. The ones who don’t lose control over themselves to media outlets or be influenced by other people. The ones who never get emotional when bears roar and fears spread all around…
To me is just that simple, it is just a game of patience. This is the mentality I’d like to start my new year with. Whatever happens, I'll stay here...How about you?
THANK YOU FOR READING
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