Here we are again! Another week appears to have bottomed in regards to the price charts throughout the market. We are getting closer to the weekend as well, which means that more individuals will have more free time which means they will be posting on social media more. Unfortunately, during times like this, it isn't anything positive regarding crypto. This happens nearly every week at this point and every day as of late.
Why do people continue to spread fear, uncertainty, and doubt (FUD) throughout the crypto community when the charts are in the red? Well... it's generally because those individuals are feeling those overwhelming feelings themselves. While I'm not knocking anyone on talking about their emotions, it does begin to seem like we are just beating a dead horse at this point.
The fear kicks in as soon as those profits turn into losses throughout the day. The thing is, you truly aren't at a loss if you don't sell your assets. The crypto market, especially when flooded with reports stating that major corporations are filling their portfolios with cryptocurrencies all while banks are blocking payments to exchanges simultaneously, is highly volatile. You're right, an excuse that the market is volatile doesn't make the feeling of watching your portfolio drop any better.
Here's the thing though... when you sit back and look at the market from a macro-perspective, you will definitely see the volatility of the market from the very beginning. Market volatility isn't just a fun slogan to say when warning people about investing. It's very real and scary but only at first. Trust me, when I made my first investments ages ago and didn't see anything come of it and hung out in the red for quite some time, I was very fearful too.
"Was this even worth it? I'm literally watching my money disappear."
"This isn't all I thought it was going to be."
"Is this all just based on hype?"
After doing months upon months of extensive research on crypto projects that I found fascinating and had excellent use-cases, this constant state of fear began to dwindle away. If you take a step back, take a deep breath, and do a little digging into a project that you view as reputable, then you should begin to experience said fear less often as well. I'm no financial advisor, but I can speak from experience and say this is what worked for me. Don't take my advice on it though and do whatever works best for you!
Once you begin your trek into the pit of fear, you're pretty much screwed at this point so we might as well talk about the next hurdle you'll experience - uncertainty and doubt. Uncertainty kicks in when the price drops to a new bottom and stabilizes there for quite some time. You're relieved that the price isn't continuing to fall but, being fearful already and upset your portfolio is of less value than it was when you first started investing, you doubt if the price will go back up.
This is usually where the newbie investor loses faith and sells off their stash before it gets "any worse". The newly hyped investor is now an unmotivated individual with a lackluster approach to cryptocurrency moving forward. I'm sure you've heard all these niche sayings before but the darkest storm brings the brightest sun. This isn't me saying that your investment will rebound no matter what and always increase. There are many crypto projects that have failed miserably at the expense of hundreds of thousands of individuals.
When you take a look at the bigger picture and try to approach your viewpoints from a different perspective, this uncertainty seems to affect you less each time. It's not a matter of becoming more brave or strong throughout the waves of despair, but rather more logical and comprehensive. It's important to stay up-to-date with the project foundations themselves and do your best to stay away from popular social media influencers shilling projects out of the blue.
Here's the thing. It's all about perspective and perception is reality. I'm no expert in finance or psychology but I know it's normal to experience these emotions when something important to you isn't working out like you expected it would. It happens, it's all a part of the journey, and it's okay. To help in at least the slightest bit, all I can say is please do your research and never invest more than you're willing to lose ever. Don't fall for a scam promising to go to the moon. Always take a second to breathe.
I hope this blog assisted at least one person who constantly goes through these waves of emotions. I was absolutely one of those investors when I first invested in crypto. After a while, it's just not worth it to expend all your time and energy upset over something you can't control. Choose your projects and investment positions wisely!
Hang in there and I'll see you on the other side!
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