The Moment You've Reached Full Bitcoin Zen
The last 18 months have not been a fun time to be investing in Bitcoin and cryptocurrency markets. Outside of October of last year, prices in the market have been dropping almost constantly. So much so, that people felt euphoric when we reached Bitcoin prices that were levels of extreme panic just a few weeks ago. Do you remember when Bitcoin dropping below $20k was the end of the world? Now, many would be thrilled to have the price stay above $20k until the world settles down. Bitcoin is unlike any other market out there, featuring volatility that isn't for the faint of heart. Throughout the last two years, Bitcoin went from a low price of around $3,800 all the way up to $64k. In a matter of months, the price would dip back down to $29k, and then march up to $69k. Fast forward to now and we are back down to just under $20k. People investing in Bitcoin feel the highest of highs and the lowest of lows. This market definitely isn't for everyone and the stress can really get to people. Especially for those who follow the market very closely.
For many, investing in stocks is a set-it-and-forget-it type of investment. Those who are just beginning to invest in Bitcoin are told the same thing. That Bitcoin is a long-term investment opportunity. Bitcoin could someday become the world's reserver currency and feature a price of millions of dollars per coin. However, until that time comes, there will be extreme volatility. This type of volatility isn't for everyone. Let's face it, it can be extremely stressful to wake up and see that your investments are down 10% in just the last hour. They're down 50% over the last two weeks. And they are down 85% this year. Then compound that with the fact that most mainstream news sources and politicians are against crypto as a whole. Taking any opportunity to throw FUD towards crypto. It's no wonder why people lose confidence in this investment and decide to sell out of their position. If people are only investing in Bitcoin for monetary gains and actually do not know what it is, and why it is so important. It makes perfect sense that they would have "lettuce hands" and sell.
Unfortunately, there are other types of people who have been selling as well. They are new to Bitcoin and have bought it within the last two years. Perhaps they know the real value of Bitcoin and the potential that it has in the future. But, this is their first time experiencing a bear market. Many people who have entered the Bitcoin and crypto markets recently have been fed speeches about how this market is going to be the future. That there will soon be a transfer of wealth taking place that will be the largest the world has ever seen. That this your is last chance to get in before this happens and change your life forever.
But, since they have began investing prices have done nothing but go down. They have seen their portfolios drop by more than 50%. That along with the chaos that is happening in the world today. It makes perfect sense that they have lost confidence in the market and sold. This is how Bitcoin cycles always go. There is a stampede rush from newcomers into Bitcoin that causes the price to go parabolic. Reaching prices that we never imagined to be possible. However, these newcomers don't have the conviction that long-term HODLers have. The stress and emotions of the market can really get to them. They want to salvage what is left of their money and get out while they still can. This is what causes the price to go drop, sending us into a lengthy bear cycle. With that said, when Bitcoin bull runs begin. It is these same people who feel the FOMO and rush back to Bitcoin that eventually sends its price soaring back up again.
Long-term Bitcoin holders are different though. Once you have been invested in Bitcoin throughout multiple cycles, a person changes. Many would call it becoming a real Bitcoiner, but I would personally call it reaching "Bitcoin Zen." This is the moment when you have been invested in Bitcoin so long that you have seen it all. You've seen the wild emotional highs that make you feel like the king of the world. You have also seen far more depressing drops that have made you question everything. These people have seen their portfolios grow large enough to be considered rich and consider possibly retiring. All to see it drop by over 80% in mere months. After experiencing several of these cycles, a person begins to grow a tolerance towards these events. Or maybe, a person even begins to lose their emotions when it comes to the bitcoin market. If the price goes up or down, it doesn't matter.
Even those of us who have reached "Bitcoin Zen" would love to see the price of Bitcoin go up. Because that would result in our portfolios increasing dramatically as well. But those of you who have been in the market long enough, are just as excited to see prices drop as well. We have learned that significant price drops are gifts that allow us to increase our holdings even further. Which will just help to catapult our wealth further upwards when the eventual next bull cycle comes. Those who have reached "Bitcoin Zen" are not worried about what the price is today. They wouldn't even be worried if the price would drop by 50% tomorrow. They are not planning on selling anytime soon and are in this market for the long term. Those of us who have reached this peace of mind, have full conviction on where everything is heading and that they are prepared properly to take advantage of this.
The real question is if you have reached full Bitcoin Zen yet?
As always, thank you for reading!
