Fear and Uncertainty in Crypto.
[ did you think I have forgotten about DOUBT?!]
With BTC rising and alts going down, the famous FUD can really start to manifest itself. Panic sells, despair "fuckitall" actions, irrationality are side effects that can and will happen. Please, don't fall pray to it.
To help you navigate these hard time I have wrote a little summary of these common suspects that in the long run will only bring LOSS.
Your worst nightmares coming to life.
Making a fool of yourself.
Being a fool for real.
Should I sell or buy.
Hold this or that.
Invest or wait for a better time.
Is this good or bad?!
I don't think what I'm doing is the right thing.
I don't know what I should be doing.
Is this gonna crash on me soon?
I don't know...
Just look at all this negativity. It will spin you like crazy into the wrong direction and who knows whatever the hell that will do to your portfolio? Take a second, hell take an hour or more to breath and think.
--> I know, I woke up today and looked at BTC huge again! I knew the alts will be down. I panicked for a second. I panicked HARD. I confess my mind went into frenzy and regret and self-incrimination. But then....I took a deep breath <----
Now, that you did stop, breath and back in control. You can ACT.
You can, of course,"DO NOTHING". I mean, if you have a good long term - inclined portfolio, do nothing must be exactly what you should. Why care about the market's up and downs, you are in it for the long haul, right?
Or, you can make some moves, buy on the dips or sell the absolute losers. I don't know, all I know is that if you are as rational as possible it's going to be OK. Have a reason for everything you will do and when the market stabilize a bit, be happy and proud of your choices.
Look, FUD is like a siren-call. FUD wants you to think that's music, but that's all there is: NOISE. Don't let FUD be your master by dancing as it sings but make FUD your....[ cough, cough ]...SERVANT with a rational approach. When push comes to fold that's the only good response to instability.
So, what are your plans, how do you deal with FUD?
Help me and others out by sharing your experience in the comments!