There is an idea that once you’ve begun investing in Bitcoin, your eyes will be opened up to how the world really works. How the world and governments are corrupt, and how they set you up to fail. The rich get richer, and the poor become poorer. They will claim that they want everyone to be treated the same and be on an equal financial footing. But the truth is that if that happened societies would fall apart. We actually need poor people to work the jobs that keep our cities running and to perform the jobs that many people don’t want to do. Your eyes will also be opened up to the truth that it is nearly impossible in this day and age to get ahead by simply saving cash. Instead, we all need to become investors to try and have any chance of having success.
That is why so many of us have invested in Bitcoin. We feel that it could be our only chance to get into a market before the biggest players join. A chance to finally escape the 9 to 5 rat race. Most would argue that becoming less naive to the world around us and becoming proactive with investment would be great changes that were caused by falling down the Bitcoin rabbit hole.
But while there are many great things you learn, there may be some less desirable things that you discover about yourself. Things that could destroy lives if you give them a chance to grow into a monster.
Addiction
Perhaps it is due to the numbers, or collecting crypto aspect, or even the potential financial gains. Whatever the reason may be, the truth is that investing in Bitcoin and crypto can be very addicting for many people.
Maybe you are an intense collector or are very serious about reaching your accumulation goals. You might even be feeling extreme FOMO resulting in you trying to buy as much as possible before the market explodes.
I have seen this situation time after time where people become obsessed with becoming rich in the crypto market and therefore throw as much money into this market as possible. More money than they can afford to lose. The longer that you are in this market, the higher chance you will learn things about yourself that you didn’t know before. Even your own weaknesses.
Anxiety
If there is one thing that I have said the most over the years about writing about Bitcoin, it is that this market will test you mentally as you have never been tested before. Your portfolio at times will be up to several thousands of dollars and you’ll feel like the king of the world. Only for it to drop by just as much sending you into depression.
Many people can’t handle this kind of volatility and stress. This anxiety will begin creeping into their daily life. Affecting their health, personality, sleep, diet, relationships, and overall happiness. As always, a key way to help keep this in check is once again only investing what you can afford to lose.
Obsession
As you invest in Bitcoin, you may begin to notice that you have become obsessive about checking prices. There’s a high likelihood that you’ll know the price at any random moment of the day. You’ll likely check the price on your phone every few minutes, set up alerts, and constantly have a price tab open on your computer. It also is probably the first thing you check in the morning when you wake up before you go to bed at night, and during the middle of the night when you go to the restroom.
This obsession can truly take over your life. It’s always important to take time away from screens and go places without your phone. Don’t let your phone or crypto control your life.
Delusional
The last thing we might learn about ourselves is that we are delusional. Maybe we began to make some money in this market and therefore thought we were experts. Which gave us the confidence to begin trading with leverage. Eventually resulting in us becoming liquidated.
It is also very easy to get consumed in our own echo chamber and not realize how little the world around us knows about Bitcoin or crypto. How there is still a lot of adoption that needs to happen before this market has gone mainstream. That we are still early. If you have made money in this market, the numbers in your portfolio will begin to have less meaning. Years ago seeing your portfolio rise or drop by thousands of dollars would be something that would be destructive in your life. Fast forward to today and it’s just a normal Tuesday. Eventually, you become numb to the volatility.
How about you? What secrets did you learn about yourself while investing in Bitcoin and crypto?
Read my articles first on
or
As always, thank you for reading!
