Like me, I'm sure you've been paying close attention to all of the latest crypto news like a child eagerly awaiting Christmas. "Will I make money? Should I hodl, or should I be taking profits?" It's easy to get confused, anxious, and obsessed over the upcoming weekend.
TAKE A DEEP BREATH
I want to take a minute and remind people that we've been on a hedonic treadmill for a while and crypto is doing alright. What is a hedonic treadmill? It's the tendency to quickly become used to a situation and define that as the new normal. Basically, when we make gains, we become used to the gains.
Yes, there are dips. Yes, I've lost money. No, I'm not in denial. When in doubt, zoom out. This is Bitcoin's value over the last 24hrs. It looks abysmal.
But if you zoom out, Bitcoin has had an astronomical rise from the start of 2020.
You can do this with almost any coin and see similar trends. I don't know the future of crypto, and there's a ton of posts on this site with so much more info. What I want to say is that it's easy to get wrapped up in the negativity, or on the obsessive chants of "to the moon!". If you find yourself getting exhausted, please take a minute to step away from the screen and get some air, water, food, etc.
It's okay to step off the hedonic treadmill.