Tough People Don't Last, Only Tough Times Do.
BTC has relapsed after being in remission for approximately a week. Did not many people predict that by the summer, alts would have started to rally? What about those who believe that by the summer, we will have stopped bleeding and will have a few weeks to recover before taking the final plunge into greatness?
Yes, many people predicted this, and there is nothing wrong with that; the difficult times for cryptocurrency have yet to end, and the only people who are most affected are those who do not have enough money to take advantage of these low prices. So, when people can not wait, they usually leave; when the panic becomes too much for them, they simply give up.
No matter how much you're a believer in crypto, a time will come when you'll give in to FUD. It is not in people's natural disposition to survive when times are difficult; people can only persevere when there is clear evidence that joy will come.
For example, the coming of bull market is not etched, it's a phenomenon that's made historically made possible. However, a significant event can persuade people otherwise. The bull run is not as routine as getting up in the morning. It is an event that is dependent on a number of factors, and when these factors are present, there is a belief that the bull market will occur.
At the moment, the market's depressing state makes it unlikely, and this is because we are primarily emotional investors and holders. This is why I believe the toughest people are the ones with the most money to spend. Why do regular people hope to make x50 with their $100? They become depressed when the market reduces their initial capital to $70, $60, $50, or even less.
This is not to say that the bear market does not make the rich cry; it does, but their comfortable financial situation makes them more mentally stable, making it difficult for them to throw in the towel and quit. So having extra money is what makes people strong.
I saw a tweet from a guy who was talking about dealing with chronic depression and how he had not overcome it in decades. Many people gave him different advice and told him to stop being negative. Unfortunately, these people could not even understand the man. They thought he was a quitter, but they did not realize that having something to hold on to can help you become tougher.
Recently, we have heard about large organizations scooping up millions of dollars' worth of Bitcoin; the deeper the dip, the more they scoop. Microstrategy and Michael Saylor, for example, are constantly in the news. He appears to be addicted to Bitcoin and hungry for more, and to think of it, this was once a guy who despised Bitcoin.
From the perspective of a regular guy, you might wonder, "Does these guy not see the state of the market?" Aren't they afraid of losing all that hard earned money?*
However, these are primarily the thoughts of those who do not have enough money. It is the mental capacity of someone who has not had the opportunity to take a significant financial risk.
Risk is a calculated gamble; the more you have, the more chances you can take
Nobody throws away the birds they have on hand; they only do so if they have another.
For me, I feel like there's nothing like training to undertake a risk. When people have a safety net, they become more willing to take risks.
Now, some may argue that BTC is a better investment, which is true; however, do you believe these people do not purchase alternative coins? I believe they do, but they are unlikely to tell you.
So there are not really tough people in cryptocurrency; instead, we have people with money and a plan.
August may simply be a forerunner or harbinger of what September will bring. September has historically been a bad month for cryptocurrency, and I believe BTC will drop to 58,59k again. The market will experience another cleansing before the end of the year, this time due to a potential depression in September. Indeed, tough people don't last.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using InLeo Alpha
👏 Keep Up the good work on Hive ♦️ 👏
❤️ @bhattg suggested sagarkothari88 to upvote your post ❤️
@bhattg thanks
This is a great post, my friend. Tough times are very testing, and they can make us think about what we are not supposed to. I hope the better days truly come.
Yeah, better days ahead
Sure
Some maximalists may not. But generally, you won't hear from whales "I'm buying XYZ". You'll hear "I bought XYZ". And when you buy because you hear them tell you, they might dump on you.
Buying coins because rich people are buying them is a terrible way of investing. You're right that they might actually dump on one. I strongly believe that some of these guys are actually buying alts, they'll just never talk
September is always bad for crypto. It's so engrained in all of us it may become a self fulfilling prophesy. Tough times are universal sadly, and they are part of life. There are people who truly are very depressed who have a genetic source and it's hard to help. But many just need to start to realize that the grass isn't always greener on the other side. How many rich people and celebrities commit suicide? A startlingly large percentage.
Sometimes the best we can do is realize that many are worse off than we are. It may be hard to believe at times but it does help me on those bad days!
BTC will continue to upward, and I doubt we'll ever see 9K again. The bargain days already came and went...
Historically it has always been a bad month for crypto, since I came into crypto, it's always been that way at least since 2017 till date.
The guy I was talking about seemed to have a health condition and not was evident in his explanation. I don't really think it was mental or something, I just feel that many people couldn't relate since they didn't have the condition..
However, with the "likes" he got in the comment, I'm sure there are those who actually can relate, but they're just too tired to actually reply.
I believe God can help one cope, a miracle is life-changing, but on the journey towards finding it, it can be stressful.
I agree, that journey is individual and always very difficult. The one thing I know about life is that it's never easy...
How have you been doing lately? I haven't been really active as I would, just a lot to handle
There are so many things that comes with crypto investment. You just have to be calm and patient
Those ones who leave are not patient enough. It’s normal for beginners though and I think some people are greedy
When they invest, they should at least try to take little profit when the price goes up but they won’t so they begin to regret. Instead of them to leave the tokens in their wallet, they will now sell it thinking they have missed a life changing opportunity
I don't think it's greed, it's just fear and panic, people leave mostly because they can't bear the pain.
One needs to believe in something. Someone believes in God. Someone believes in BTC. I have a subjective feeling that for some hodlers, their trust in BTC is really a religion.
Well I won't say some trust BTC like a religion, it's just a group of maxis trying to be rich
Someone spends their whole life buying lottery tickets or betting on everything possible. He believes that this will make him rich. Someone else buys BTC or alts. He also believes that he will become rich. The latter group has a higher probability that their wishes will come true.
Well, you're probably right, just like you, I also think the second group of people are actually likely to make more.
Thank you for your witness vote!
Have a !BEER on me!
To Opt-Out of my witness beer program just comment STOP below
View or trade
BEER.Hey @insanejane, here is a little bit of
BEERfrom @isnochys for you. Enjoy it!Do you want to win SOME BEER together with your friends and draw the
BEERKING.The title of this post alone caught my attention sharply.
This is not just an article, it's made up of facts of life. That's what we are meant for, face the tough times pass them.
Thanks for making this amazing publication and helping us know more.
Thanks for reading, I purposefully made the titles to seem that way
This is my first year and crypto and hopefully i could make it until the next bull run.
Hopefully for your sake.
if everyone is financially alright, there won't be panic and we can just buy the coins and forget them for years, which would lead to financial freedom, most people know this but situations and unforeseen event made it impossible and before we know it, from the strong hope we had for bull run to panic of saving the little dollars left from dip and sometimes it could be to sell and buy back later at lower dip but the market is smarter and often leaves us behind.
The market is indeed smarter. I think the reason is that many people made the mistakes of not preparing well during the 2021 bull run.
However, like you've said, I think everyone is financial okay, then financially stability with crypto is always more than possible.
The market was already looking weak and with inflation kicking everyone, I don't think there would much hope of a bull market when people don't have the firepower available. I also think lower prices are going to be there for a while until the economy gets better.
Well, the economy is depressive for sure, but I think it's probably something that wouldn't affect the bull run that's imminent, things will eventually escalate very fast.
Wonderful article friend. We mostly fear because we have less. This is an hedge top investors really have.
True indeed, people with money don't have this limitations
Greetings @josediccus ,
Appreciate hearing what you have to say with regard to BTC and this market....spot on!
Thank you!
Kind Regards, Bleujay