Reading around the crypto space at the moment is something of a depressing affair. Moaning, griping, jumping ship. Telegram is full of it.
Many speculators are emotionally depressed and market sentiment is low.
The reason is because all those double digit gains, moonshots and parabolic charts in January have failed to keep climbing. They have failed to produce the delusions people had about investing in crypto. I.e. Yellow lambos, infinite gains, easy wins, get rich quick, etc.
Personally, I don't see how you can be depressed. I don't have time for it!
If you are serious investor ( or, a grown up ), you work with what you have and play the cards you are dealt. You actually can't afford to sit in the corner crying because the market is always offering some sort of opportunity. But not if you're busy sulking.
The time speculators are spending crying, is time they could be spending looking up the next ICO to invest in. Or diversifying and looking for other ways to make gains from the crypto gold boom.
No, the depression in the crypto market is due to the fact that many peoples investment strategies have failed.
- Rigid strategies like the 'HODL or die' mentality doesn't work in a falling market.
- Having no strategy other than to 'get rich' doesn't work either. Getting rich is a habit of working your assets, not a chance happening. And there's a big difference between getting rich and staying rich...
A bull market is easy to play. But, ironically, a bear market is just as easy. The trick is to adjust your strategy so that you still make gains. No matter the market conditions.
To be completely honest, I don't think that investing in crypto is for everyone. Which is why I will send a lot of newbies to invest in a crypto-hedge fund when they come onto the market.
Most newbies are mesmerized by the massive ( potential ) gains that they ignore the massive ( potential ) losses. And so you end up with a market sentiment like we have. Sad, sulky and complaining, which a recent poll by #Ethos highlights.
- How can you have a depressed outlook for a market that is growing industrially by the day?
- How can you think that 'crypto is over' when Microsoft bought out Github for $7.5B, NASDAQ are launching their exchange in November and IBM wish to become 'the king of blockchain'?
It's not even a matter of 'being positive despite bad prices' either. It's a matter of being real and seeing the path that industry is taking. Or rather, ploughing into the real world.
And putting yourself on the same road.
If the big players see opportunity, then you can bet their is money to be made for anyone with a skin in the game. Unless of course you're delusional and out of touch with the real world.
A bear market is precisely the time to correct this and any other incorrect views you may have. That is one of the benefits of a falling market. You get to fall back to reality and build a strong basis for future trading.
No, crypto investing is not for everyone as it demands you to think, persist until you win and research. Being emotional about trading is a sure sign of a faulty thought process.
Crypto takes work. It takes mental training too. Which is not what speculators want to hear. Personally, I don't mind working at it everyday as crypto has yielded gains and produced some interesting career opportunities. Beyond trading coins or begging for upvotes on Steemit.
Which is interesting, as I make zero money from my Steemit blogs but my blog has become one of my most valuable assets. It has become a springboard for my career and has helped my natural medicine company evolve - but more on this later.
The reason my Steemit profile has become an asset is that my posts have ended up on the desks of several of the startups I have reviewed. As I know they all 'listen to social media' and get Google alerts, I have been writing with that fact in mind. As a result, my articles have lead to some interesting connections and career opportunities.
Long-term opportunities beyond trading coins on Binance during the gold boom.
The current 'bear market' has taught me to prepare for the time when crypto is no longer a golden goose. The bear market has given me months to prepare my company for long term growth, read up on where the market is heading, what I should be focused on and invest in some awesome projects.
A bull market can be a distraction as the gains are easy and so you don't bother to build a solid game plan. Or seek opportunities. You get lazy.
Whereas the prolonged downtrend has been 'good for business' in the long term. As I have been directed by the market to prepare for 'future Winters' and build a company and set of assets that are resistant to downtrends.
- A bear market is about thinking long term.
- A bull market is about focusing on the short term.
Long term gains by way of sustainable practices vs short term gains by harvesting current opportunities. That is essentially what a bear market teaches you. If you are listening and not crypto over lost crypto, that is.
The bear market has been productive. I've prepared. I've emailed. I've wheeled and dealed on the side. I've built assets. I hope you have future-proofed your finances too.
Thanks for watching,
Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia
Www.Skyflowers.co ( see "botany" tab for the plant research )
Www.ClinicalFlowerTherapy.com
Social @iSkyflowers
YouTube Skyflowers.Tv
If you support natural medicine and an independent research project that began in 1997, then steem me. The creds I get will help me provide a solid body of information that future generations can build upon.
DISCLAIMER: This article and all information on this channel & all content is offered purely for educational & entertainment purposes. Always do your own research when investing money and seek the help of a registered financial advisor.