The crypto market is experiencing one of the craziest bear markets in the history of "Cryptodom." This time around, the bear has spent a lot of time gulping more beer and has refused to transform into an energetic bull.
How do you expect the bull to run when it has become too slow and clumsy like a Sloth Bear?
I wonder who gives the bear more beer to drink, little wonder it's been staggering all the while.
As of today, 7th July 2022 (00:28 GMT +1), Bitcoin sits at $20,600.91 which is a -70.1436% loss from the All Time High (ATH) of $69,000 that was recorded on November 10, 2021.
So in 8 months, the Bear has gradually been moving along a down slope and has been doing so at a comfortable pace.
Don't you realize that you're hurting everyone?
I am trying my best to be pragmatic here without shedding a tear. However, I can't help but be emotional.
Crypto became my Solace in the face of economic hardship, devaluation of [my] currency (Naira), Market crisis due to Inflation and economic recession. Yet, that which was a Solace to me, has become a scorn.
The soft pillow upon which I lay my head for a comfortable sleep has now become as hard as a diamond, making my night restless and my sleep impossible. (well, if it were a diamond, I will be a whale in Hive by now)
Now, I've begun to question my decision to invest in Crypto. I tend to lean on the side of regret. It is as though I took the counsel from a madman. 🤦♂️
But to be honest with myself, I was duly informed about crypto's high volatility.
Or maybe, I wasn't paying attention.
Maybe I was so engrossed with the fact that I've seen an "Archangel" coming forth to save me from my financial crisis.
Maybe I accepted without reading the terms and conditions.
Or maybe some things are more experiential, and gives you better knowledge when you've experienced it or become a victim.
AM I A FOOL?
I was unfortunate to buy $1000 worth of Bitcoin on the 10th of November 2021, when Bitcoin hits it's ATH (All Time High).
As the days went by, my ignorance became as bright as the sun. My Naivety became "visible to the blind and audible to the deaf."
I kept on consoling myself that Bitcoin will surpass the previous ATH, even if it takes months or years, I believe it'll do so.
O well, that was what I said in theory. But let's come back to reality.
My $1000 is now worth $298.564 in just 8 months.
Why would I take such a risk?
Why didn't I pull out when I was at 90% loss, 75% loss or 50% loss?
Why did I wait for it to get to this point?
What do I stand to gain now, by believing in a project that has put me in such a terrible mess?
DROPS MIC 🎤
If you've read to this point, thank you so much.
But, note: the "I" and the "experience" isn't about me, but about those in this kind of situation. 🥰
How will you advice such a person?
What will you say to him or her?
I'd like to hear your response in the comment section below.
Have you read these?
☆ DIARY OF A CONTENT CREATOR ON HIVE
☆ INFLATION: FROM THE LOCAL MAN POINT OF VIEW
☆ Buying, is not the Solution!
I AM KSAM
I may not be your favourite author, but you can journey with me to help me develop my "penmanship" skills. I am always open to criticism, correction and learning 🥰.