FOMO, FUD and other crypto feelings


We are not associating crypto with feelings usually, or do we? It is good to think at us as cold calculated robots, able to deal with numbers, patterns, graphs and other similar things. But this is far from reality. Not only our reasoning and decisions, but most of the crypto-market is heavily influenced by feelings.

Just look at what happened two days ago, when some infamous tweet said this and made the market drop 20%:

Andrew Fisher

@acpandy·

Apr 18

US TREASURY TO CHARGE SEVERAL FINANCIAL INSTITUTIONS FOR MONEY LAUNDERING USING CRYPTOS - SECURITIES LAWYERS FAMILIAR WITH THE YELLEN TASK FORCE PLAN SAID

All that and some electric outage in China. Yet, sometimes some major news get out and the market will not bulge a centimeter. What can I say, you cannot understand women and the crypto-market. Prove me wrong!

Then we have this:

Harry Potter author asking about Bitcoin, and everybody jump to explain it, the market is pumped, and all is good and shinny in crypto-sphere. JK Rowling didn't understand nothing in the end, but it is not like this will matter. Bitcoin and the other crypto are out there in the wild.

And me, imagine that, I was not upset because the market dropped 20%, my main problem was that I was out of liquidity to buy more, due to some month long projects that temporary stuck most of my portfolio until middle of May.

And then there is another aspect. If you are to eat the same food every day, good food, providing all the nutritional values, will you call this boring or smart (saving times, simplifying life etc.)? If you have some projects working and providing value, yet you want to try some other ones, as they may be better, everyone talking about it, how do you call that? Some people are able to HODL, some like day-trading. Each one to their own. I personally buy odd projects, with some potential, and wait to become a hit. Some tokens I sell when they increase 2-5 times, some I am able to hold for longer, talking about it, I realized that I bought some IOST few years ago on some small exchange, I will just check quick and come back to writing. Yep, it was some IOST in there, I just exchanged to $7 of BTC, and leave it, until BTC will be one million. I have also find some DOGE, which was now around $65, so i sent it to Binance.

So back to bussines, the idea is that, as long as you made profit, does not matter how much that coin goes up. You need to understand that. The holiday you paid with BitcoinCash when it was $300 is something real, palpable, the computer you bought selling EGLD when it was $80 too, especially as you get it for under one dollar. Do not worry about how much could have been. Remember what they say, not drinking your favourite coffee at Starbucks will make you a millionaire by age of 55. But how would you feel going through the best part of your life without your favourite coffee? Not that good, right? There are trades to be made and trades to avoid. In the end, you are in crypto trying to improve your life, isn't it? Hodl as much as you can, but always have an exit strategy. Always!

And with this said, i will stop for now!

All the best,

George

Why not...

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