The market has been in the red for a long time. And, although the market seemed to be recovering now, it will still take some time before most of us recover from their losses. When the market is in a bear cycle, seeing our portfolios decline can be extremely upsetting and stressful for those of us who hold and trade cryptocurrencies.
In this regard, I'd like to mention that the current bear market, as well as other events in my life, have caused me considerable concern. Obviously, I also discovered methods to reduce my anxiety and stress. I would despise it if worry caused me to lose my hair at such a young age (lol).
I read an essay a few years ago that emphasized the importance of finding ways to relax. Because of how long it had been since the event, neither the article's title nor its source website came to mind. Nonetheless, I remember a few details from the essay.
Don鈥檛 Spend Too Much Time Staring At Your Portfolio
According to the report, ignoring the source of stress is one of the most effective ways to alleviate its symptoms. This means that you should disregard all market information when trading cryptocurrencies. It is strongly advised that cryptocurrency owners refrain from doing so.
It is unrealistic to ignore the market or your cryptocurrency holdings for an extended period of time. However, I took steps to cut down on the amount of time I spent worrying about my portfolio and the stock market.
Once or twice a day is plenty (or more if you're the anxious type). We no longer need to spend hours reviewing our investment accounts; a few seconds is all that is required.
Day traders will undoubtedly reject this recommendation, but long-term investors like you and me will find it extremely useful. We can enjoy life more and avoid making rash decisions like panic selling if we keep our minds stress-free.
Unwind If You Can
Unwind by watching a movie or playing a video game... Most of us anticipate a long crypto winter, so it's better to spend one's time doing something enjoyable and constructive rather than constantly worrying about when the market will improve.
When the current state of the cryptocurrency market is considered, the stress of being a (college) student who works may increase dramatically. Knowing this, I decided to hold off on investing in any other bitcoin ventures until the bear cycle ended. Fortunately, most of my investments have a long-term outlook, so I'm not in a rush to sell anything.
However, I am well aware that my viewpoint is not shared by the majority, so if you are in a position to do so, I would advise you to wait until the bull eventually defeats the bear. And, while you're waiting, it might be a good idea to unwind. However, if you need money, you should look for online jobs that aren't too stressful and aren't related to cryptocurrency.
If you are a day trader with the luxury of "spending time" unwinding, you should probably ignore this advice. Even if you are a day trader, you should disconnect from the internet and take an hour to relax. Stress can literally kill, and a person's life should always come before their finances.
Conclusion
While low levels of stress are generally safe for health, prolonged exposure to high levels of stress can be harmful. As a result, it is critical to unwind whenever possible. Because of the inherent volatility of the crypto assets we trade, we believe it is critical to take regular breaks. As a result, learning to relax is critical, especially during a bear cycle. I believe that ignoring the source of the stress, even if only briefly, is critical to reaping the most benefits.
It can be difficult to not constantly monitor the market or our money. However, if we are concerned about our health, we may want to limit our contact (and survival).
