Psychology during bear market
One of the most important fact about bear market is "surviving it throughout the time!" As easy as it is to say, in reality it is that much or even more difficult to implement. This current bear market was a strong example for many of us! Especially me, as I was not really expecting it to last this long. Which is why, I'm going through a tough time as to speak. But either way, this lesson came free of cost and hopefully in the coming days the situation is going to be different! Although, I do not really want any sort of bear to hit us after the current one but market does really acts upon its own.
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Portfolio taking a HIT!
There was a time during bull, when most of our portfolio went to unpredictable amounts. Those were some very good memories to remember! While many users were lucky enough to take some profits during those times.
Well, I was being too optimistic and rather than doing what was necessary for my survival in crypto, I got stuck with cryptos rather than selling them at profits. Not that I did not sell and took profits but I should have been more cautious regarding this. Since, this was my first bull where I had something into my portfolio and it actually went up to a humongous amount, I probably became dumbstruck and just waited and waited to make the best out of my investments until it was too late. Well being too much hyper over sudden wealth is indeed a huge issue that I have felt during this bull run. Need a lot of training in order to get over this fascination.
Mental Pressure
This is one of those thing which I have been facing a lot recently. Due to several reasons I suppose. Sometimes it feels like there are so many things which I could have done, if only I was little bit more responsible and was aware what I was getting or being gifted upon. As being in crypto and getting a significant amount of pie in here is not less than an opportunity which many does not even get in a life time.
Just imagine getting 100x gain or more for an investment. That even over a span of few months. That's crazy isn't it? I suppose dealing with crypto and its ups and downs is entirely a different thing to master. While if that is taken care of, things can run really smooth for us all. That's something I can say for sure.
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Missed opportunities, sometimes hurts a lot! But coming to think about it, all the lessons those have been learned during those moments are going to be with me for the rest of my life.
Being in crypto, has its perks. Many of us have seen ups and down of trillions of dollars! Having our stake in those Trillions and be a part of it has its charms. I am not really sure where else I would have felt the effect of this ups and downs. But either if we can not take anything from that pie, its probably just going to be a waste of time and effort.
Re-strategy
I am yet to decide what to do with my current position in crypto! As a lot of things needs to be done in order to be able to survive this crypto winter. Since I am on the verge of collapsing it might be a long run for me from here. Either way, being in crypto has shown me ways where I can gain my financial freedom before I reach my retirement age under normal normal scenario. By which I mean to say, I can retire quite early if I stay put in crypto. At the very least this is the actual plan for now. Thinking about future and building that path being in crypto.
Lots of plans are needed. Most importantly implementing those plans and making it work is the real deal out here. Keep me in your prayers folks!
Best regards
Rehan
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