The past few weeks have been a crypto investor’s worst nightmare. While the individuals who have been involved in crypto for quite some time are still profiting heavily, the newcomers appear to be suffering the most. The hype generated around crypto toward the end of 2020 and early 2021 created a massive market boom… but it’s not over yet.
It’s hard to keep a positive mindset when the market appears to be in shambles. If you dove into investing during the all-time-high prices towards the beginning of May 2021, you know exactly what I’m talking about! I always stick to the motto, “When in doubt, zoom out!”. Being at a loss for the past 24 hours or 7 days is rough, but there’s always time to sit back and take a look at the bigger picture.
These days, checking your portfolio can be quite a task. The Red Sea should only be applied to the body of water separating Africa and the Middle East, not our markets! When we say the crypto market is highly volatile, we aren’t joking. Now, we are riding the fine line between a market correction and an ongoing bear market. Although it’s hard to stay positive at times, the madness of the market is nothing to fear.
This is nothing new to crypto. The long-term investors are all too familiar with it. It’s sad to say, but the media drives crypto either through the roof or into the dirt just like anything else they like to cover. In this day in age, a lot of individuals just read a headline and automatically assume the worst without reading the entire article. This ignorance is the driving force of panic-selling and mass hysteria throughout the market.
At this time, I feel as if there are 3 different types of crypto investors. Those who have been around since the beginning are swimming in profits, those who bought in at all-time highs are drowning in fear, and those who are buying in recently are just riding the wave with their hopium tanks fully stocked. People still continue to see crypto as a get-rich-quick route and are discouraged when it doesn’t happen overnight.
Think of it like this. Crypto doesn’t exist and you’re investing in the traditional stock market. If you buy shares of Apple, are you going to wake up tomorrow a millionaire or is it going to be stagnant for a while before you turn a profit? Progression and value both accrue over time and it’s best to just be patient. If you truly believe in the project, supporting the foundation with your investment should be your first priority… the profits come with it.
If you take a second to zoom out on your charts, you’ll see that this is just the motion of the ocean. Prices rise, prices fall, and people continue to invest each step of the way. Personally, I believe the market’s rising and crashing are highlighted more purely based on the fact that more people are interested now. Did you hear about Bitcoin or Ethereum rising and falling from major news outlets a few years ago? I highly doubt it. The more people that are invested in the information being distributed, the more of an effect it will have. Don’t fall for the mass panic surrounding crypto and get your portfolio lined up for the next big bull run.
Reputable projects with plausible use cases are destined to disrupt the future of finance. Since I’m no financial advisor, I can’t say for sure which projects will succeed and which will fail over time. I continue to do my research each day and stay up-to-date with updates from the different ecosystems I’m invested in, profiting or not.
From personal experience, this is all just part of the game and I’m in control. While continuing to conduct market analysis daily and researching my investments, I am without a doubt that the market will rebound and we will all be celebrating once again. Sit back, hold on tight, and we will all get through this together one way or another!
Do you think we are experiencing a market correction or a bear market?
Share your opinion in the comments below!
Thanks so much for reading my blog!
Stay tuned for more!
This article was originally posted on my LeoFinance page here!