Remember ol' Boom and Bust
I get an email last night from someone who I know has been holding a considerable amount of crypto. Without saying names, let's just say It's a content creator who's had a very successful career on youtube but a little over a year ago found himself immersed in cryptocurrencies.
It goes without mentioning that even though this content creator does not solely rely on crypto to keep on keeping on, as they say, he is feeling at this point in time that he's about to hold big bags of nothing. So, he's doing the "reasonable" thing and starts to get second opinions on the matter.
It's almost become a bit of script with me these days. Showing people the different boom/bust cycles and how what we are seeing at this very moment is absolutely nothing new. More importantly, this is nothing new to markets in general.
The world's largest economy, the one everyone looks up to (if they should or should not is another question) is basically nothing but a giant boom & bust cycle, the difference being that Banks on this rigged system never lose, but I digress.
The main question you have to ask yourself at this point in time is this: Why leave now? if you are down 80%,90% or even more, why would you exit the space now? Yes of course, you could have an emergency and thus need whatever you can rescue, I can't blame you if you do. But, for those who don't have an emergency, for those who can give themselves the luxury of practicing patience, Why would now be the best time to leave?
I hesitate to call this the bottom, because I've learned my lesson already. However, we can't be far and honestly, the most painful part of the process is already done and over with. This is to say, all of us know that the idea we were all going to be rich, was unfiltered immaturity. There is no free lunch, we know this, and anything we build, anything with true value, requires a lot more than luck, it requires sacrifice and patience.
In other words my friends... Don't let Bust scare you... we knew he was coming, we always did, and if you didn't well.... now you know, and after he leaves and Boom comes back, don't forget Bust will be waiting around the corner.
The economy cycle of mainstream finances is even worst, since they know that cycles are creating, not by offer and demand, but for "government incentives" who create money from nothing and put that in circulation and one day they think that quantity is huge and start to drain creating the recessions.
I don't even know if people on mainstream have some logical thoughts when they say that cycles on cryptos are causing but people who haven't no escrutines.
Thanks for sharing!
This thought leads to the importance of the fundamental strategy of not putting anything you may immediately need or depend on into these assets as it will lead to more emotional decisions that never work out well. However, more thoughts like these are typically the signal that the bottom is near and while we may not see highs anytime soon, stabilization is also important for developers to feel confident on investing into projects going forward.
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Yes, just make sure that if an emergency is to come you know how to cash out - so prepare at least 'the route'. But HODL because the 10% you can save now... Is that really the money you want to risk taking, because the 'risk' of taking now is actually bigger than the 'risk' of crypt prices going up again.
precisely... wise words Rosa
Given the level of "bust" that's already occurred, this is...
...VERY SOUND ADVICE, MENO!
Well, anyone in this space would have probably heard from someone if perhaps they haven't experienced a burst before now. And your words are so encapsulating that certainly, the boom (maybe not ATH but prices doing fine again) is upon us already. Don't give up now!
Such great wisdom! If only we could bottle it and give it out to people so they don't make unwise choices. Great job for sharing with others. We need those with strong hands in this economy and those willing to share with others their experiences.
Ivy
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I am new in this world of ciptomonedas, and yet I know that it is normal to go up and down, apparently this time it has lasted a long time, but it will be a day of prosperity, meanwhile we have to keep publishing and working for when those days arrive ...
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