The modern stoic is regarded as any person who has an indifference to emotional extremes. This is only scratching the proverbial surface of what Stoicism can do for Hodlers. Consider; any rational man understands they cannot control everything that happens to them. But only the wise men understand they can only control how they respond to things.
Instead of looking at the world through rose-tinted glasses, the Stoic aims to view reality as it is. This is important in breaking up the formation of unhealthy hope, hope that can hinder or even destroy any semblance of being in the moment. If you don’t understand the importance of living in the moment, I will cover that in a different article.
Let’s relate hope to cryptocurrency. If you are firmly under hope’s control, logic and reason will come second in your trading. This skews your chances of seeing past the illusion, thus cementing your fate with the rest of the traders who have fear of missing out, and the like. Emotional extremes delude your ability to gauge probability. Hope is a very common emotional extreme in the cryptocurrency community.
How can we step past hope, to see reality without bias? One practice is to use negative visualization. Visualize and expect the worst things to happen. Fully consider a reality of your worst nightmares. Understand these timelines do exist, and they could exist for you.
Bitcoin could go sideways at $1000 for three years. Oh, the horror! This might seem like a tragedy, but that’s hope talking.You hope for Bitcoin $100k to be here tomorrow, and anything else is unacceptable! But, like I said, let’s reevaluate. What is the opportunity in the reality mentioned? Accumulation. If you refuse Hope, and your logic and reason still thinks BTC/$100k is coming, then a bear market is a time for accumulation.
I hold the understanding that each day Bitcoin is alive, it grows stronger. To let the psychological patterns of the market influence your state of being, or even your long-term strategy, that’s missing the point of trading.
I’m Tristan, a student of computer networking and a lover of philosophy. If you enjoy my content, help me eat by donating Bitcoin: 1QuanTuMmPb11KFripm3xFNhfLxMsdeZY