The bear market has a way of affecting us mentally and everything that happened during this time is decision-making on how want to be during the bull market. In the crypto game sometimes what you know might not be right but a common mistake I believe people make is converting their coin into a stablecoin in the bear market. Some people call it fear of not losing too much and if the price recover they will buy back from there, even though I am trying to give myself reasons to believe this is right I still don’t see any.
I believe the best time to convert some of our hard earn coins into stable is when the market is up and we are trying to save some profit but people do otherwise when you are already losing a lot of money and sometimes this might have dropped more than 70% of their investments and people will still convert into stable because of fear, doubt, and uncertainty.
I realize that some investors believe in the project they are investing in but still follow this set of people and immediately after the bear pressure increase they sell their assets irrespective of what they lost. Sometimes we might have the scenario of another Luna and you did not want to catch a falling knife or you wanna lose all your money completely selling irrespective of the loss might be understandable but the mindset must be right.
Right Mindset
Most people don’t even know why they are buying in the first place, some people see a friend of theirs buying in particular coin and they don’t wanna lose out and they joined in, I remember some of my friends that bought nft without knowing about it are now in loss, while some of this nfts are mooning they held on without taking profits and now they regret spending their hard earn on shit nfts.
some people know why they are buying but they have let their emotions take control of their finances. Sometimes this can be right but most times this doesn’t always end well because when the project makes a terrible decision instead of you backing out you will hold on, anything business that runs by emotions always has future problems.
Value your money
Some of us don’t always value our money until we are losing it and that’s why invest without doing research and spending without proper planning. If We have valued our money every cent matters and we will always put it to the right use when in the bear market we won’t just want to settle for a 70% loss of our total money invested in a project.
Thank you for your time.
