Cherish Your Crypto Victories

Not Always Easy

When life doesn't quite turn out the way you were expecting it can become a little difficult to remain positive. I think that this is pretty much where we all find ourselves currently in the Crypto space. Even those who were not that bullish in 2022 were at least expecting a modest and continuous grind higher. Even though the market is down quite significantly it is also not really that bad. Hovering around $38K, or even $40K still doesn't look too bad when viewed on the larger time frames. What we want to at least see taking place now is higher lows.

The Rise Of FUD

It will be great to see a move above $40K but I think the market is a bit spooked at the moment, or perhaps just uncertain. Recent activity in Canada has been good for Crypto in the long run. However, many don't understand the limitations of government and so much is initially misinterpreted. The US and the world at large are awaiting President Biden's executive order regarding Crypto regulation, which cannot be interpreted any other way but negatively. In essence, there is a lot of uncertainty at the moment and with uncertainty being the central kog of FUD, it's not surprising to see it begin to manifest! The effect of Fear, Uncertainty, and Doubt should never be underestimated, as the majority will unfortunately always yield to it.

Maintain Focus

This is a discipline that should always be exercised regardless of the economic or political climate. However, it does become more of a necessity in times like this. Maintaining focus also helps to remain productive, ultimately diverting focus away from the negativity generated in bearish seasons. Instead of being concerned about negative price action, rather celebrate your past victories. In so doing, you will most likely realize that many successful past moves were actually birthed in downturns and bear markets. This will only serve to encourage further commitment and dedication to build and prepare for the next wave.

Markets Move In Waves

This is especially true and can be clearly seen in Elliot Wave Theory technical analysis. Markets push higher and grind lower, they also experience sharp ascents and deep descents. A move down is only interpreted as the end by inexperienced market participants. A move down, in essence, is actually a blessing allowing you the opportunity to prepare for the next wave up. This is where the majority lose big time! Being unable to interpret market cycles correctly causes many to abandon their investment goals. You cannot escape a market slump but you can hedge yourself and be proactive in regards to reducing loss.

You need to face the storm head-on with as much wisdom and strategic action as possible. Learning from past victories also provides great assistance in confronting a fresh challenge. For some of us, the past victories have removed the possibility of loss, as we have recouped our initial investment many times over.

What About The Noobs?

If you are new to this market then you will most likely not have any big wins to look back on for encouragement for the road ahead. This is why you have to at some point endure a bear market, so as to develop resilience and experience. There is no preparation for a bear market that matches enduring a season of bloodshed. This is where you will "get your stripes" and resurface with a keener and more realistic view of this market.

On the upside, there is a strong likelihood that this winter will not be as cold as previous winters. There is a lot of opportunity in a bear market and I will repeat what I have previously mentioned, money is made in bear markets and realized in bull markets. For some reason, this escapes many, even the learned. This is how you make money in financial markets. You have to be busy when the blood is flowing down the streets, even if the blood is your own!

Time To Secure Some Victories

This could very well be the dawn of a new opportunity to build what will later become a tremendous victory. Past victories become the encouragement and future motivation for the next challenge. Persisting through difficult market conditions will later always prove to be a beneficial experience. Even if you invested in a dead-end project, the lesson learned will be of great value when considering future investments. At the end of the day, everybody needs to pay their "school fees".

Conclusion

Try to find the positives in a negative market, aim to build for tomorrow and you will be in a better position than many of your counterparts. Dedication and consistency will pay off in time and unfortunately, consistency means remaining engaged when the economic climate is dark and cloudy.

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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