On red days like these, sometimes it’s hard to exist. Many questions buzz around your brain.. Questions such as, why have I invested so much time and money into these intangible digital entities? Should I just sell off my lot and move on to some other venture? Were my overly critical fiat friends right all along? As humans we tend to dwell more on negative aspects of our life than the positive aspects. On days such as this, you need to have a future mindset about cryptocurrencies.
For me, my future mindset doesn’t necessarily come from the idea that investing in cryptos will necessarily make me super rich (although, who am I kidding, that’d be amazing), but rather how will these cryptos I invest in change the world? And subsequently how will these cryptos I invest in change me?
Planning for the future really helps me put things in perspective, and I largely ignore all the outside noise and FUD that surrounds the cryptoverse. Don’t get me wrong, it’s a good idea to learn from and converse with other intelligent traders and investors, but if you spend your time on red days perusing twitter and focusing on all the negativity, you’re going to be anxious and constantly questioning your decision making.
I personally think it’s very important to have a core group of cryptos to turn too when the market takes a dive. These are your long term meat and potato positions that you plan on holding for years as opposed weeks or months. I’m not saying you never trade these core positions, but generally speaking, these cryptos are for accumulating and holding long term. The reason I turn to these, and buy them when the market turns sour, is because I truly believe in their future, and feel comfortable purchasing more even if I paid less on an earlier date.
The process of finding a core investment group is different for everyone. It’s important to designate a criteria that fits what you as an individual believes is paramount when making the decision to invest lots of your hard earned money. DON’T just invest in what others tell you to, because they have their own parameters that fit their future mindset. Be responsible for your decisions and don’t take them lightly. Research thoroughly, scrutinize everything, and envision the future you believe will be enhanced by your investment.
By focusing on the future, and the long term prospects of cryptocurrencies, you alleviate the anxiety that comes with the daily and weekly movements of the crypto market. Be assured in your core positions and turn to them when you’re feeling a little blue. The cryptocurrency market is still very young, we’re just getting started here. So relax and enjoy life, and have confidence that no matter what happens in the short term, you are setting yourself up for success in the long term.
Thanks for listening, and I look forward to your comments!