I saw a crypto meme on Twitter today that was probably the funniest I have seen in a long time.
The meme is a simple summary of what happens every crypto cycle, but even though we know this all the time, we still fall into that character when the market begins to act up. I will post the meme below for you to see.
Apparently no one buys a dipping coin, or lets say 95% of people won't. Why? because they are afraid of losing.
I do not know what to say because this is already a crypto cliche, but I'll still do for the sake of emphasis.
People only buy what is pumping because they know they will make a profit; unfortunately, when they do start buying, they do not do so at a price that is high enough to be life-changing; this is why people need three to four cycles to become wise; however, this is not new, and it does not take a genius to understand.
What distinguishes you as a genius is your ability to put your convictions into action. While this appears to be a simple task, it is the most difficult thing to accomplish. The reason is because the market has so many unwarranted voices that can influence your crypto decisions.
I once read a documented story on Hive about someone selling all of their XRP because an alleged crypto guru who is also a YouTuber said XRP was going to zero, and then XRP exploded a few months later.
According to them, if they had kept the coin, the money could have changed their lives, but that YouTuber with alleged years of experience persuaded them to sell.
Now, voices like this allegedly self-proclaimed crypto guru are resurfacing, and do you know how they convince you?They pull up charts and give you some solid reasons, and as soon as you start listening, you will realize you are buying into their ideas.
Crypto Twitter is one of such places, it is full of crypto folks who are cursing the hell out of themselves. The arguments are unhealthy; people are throwing tantrums and putting their emotions on the line; some people are losing their minds, throwing their opinions around in insulting ways; and most of the time, all I can do is laugh inside.
Some people are clueless, while others have some knowledge, and still others refuse to let others rest by waving their predictions about what will happen to prices. It is absolute chaos out there, and people who are constantly switching between Twitter and YouTube or trusting YouTube bros are the ones who have their convictions rewired.
Do you know why? It is a game.
The game is the game, period.
I have been following Twitter for a while, and it is not because I am looking for crypto validations, for other vendors, although I have subconsciously learned some of the harshest realities of being in the game, it is always a good idea to double-check your conviction rather than allowing an engagement-seeking bloke to guilt-trip you.
Again, by December, I believe everyone will have learned one obvious lesson. Why December? Because this is when and where the road goes.
Now, I am going to discuss that meme.
Take a look at that chart. Notice how the "BUY" in the meme's final image began when the pump was already at some of its highest levels? That is because the meme simply mocks those who wait for a coin to significantly increase in value before entering; unfortunately, they are either buying near the ATH or buying when they will barely make a profit.
This is the same as panic selling. It is difficult to hold when the market is bleeding; this is the critical point at which things become too difficult, and this meme depicts the entire crypto cycle in a single image.
The period of FOMO is getting closer, and when it is fully upon us, you will see the rush to secure the next mad gain; this is exactly the playbook that makes crypto so difficult.
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