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.
