Top Signs You Won't Survive the Crypto Market
If there is one idea that I have stressed the most during my time writing about this industry, it is that Bitcoin and crypto aren’t for everyone. At least, not yet. The people who have fallen down the rabbit hole of this market have unbreakable conviction, something that is a rarity. After all, the crypto market is the most volatile financial market on Earth. It wouldn’t be wrong to say that most of the buying that currently happens in this space is actually closer to gambling, rather than investing.
While it is true that cryptocurrency will be the next big thing, and will cause the largest transfer of wealth that the world has ever seen. That doesn’t mean that everyone will take advantage of it.
Think of your friends and family. How many are current on the newest things in tech and investing? Then how many of them are willing to invest a significant amount of money into a market without guarantees? The answer is likely to be very few.
I am incredibly bullish about the future of this market and believe that Bitcoin will be the next big thing. However, not everyone will be early in this market. Most will prefer to join Bitcoin and crypto long after it has become a “safe” investment. By that time most of the big money will have already been made.
The first sign that you won’t make it in this market is that you are too worried about the current price action you are worried about a few hundred dollar price swings in Bitcoin. Or if you are losing sleep at night because you have invested too much money into this market. It is a clear sign that you will not survive long in this market.
When prices are sideways, moving down, or there is FUD in the market. It is these types of people who will be first to sell out of their positions to salvage their money.
The second sign that you will not survive in this market is if you are focused on meme coins or cryptocurrency projects with a very low market cap. As I mentioned before, buying these tokens isn’t really invested. Instead, it is degenerate gambling.
Most people hate hearing it, but all of these projects eventually trend toward zero when compared to Bitcoin and Ethereum. Especially on a longer time frame. There is an interesting stat that less than five cryptocurrencies have ever made a new all-time in terms of Bitcoin after their first full cycle. That is why you will often hear Bitcoiners say that all coins trend toward zero when compared to Bitcoin.
The third sign is something that most people don’t consider. But it is when people are comparing their portfolios to people they see on the internet, or their friends who got into crypto before them. Trying to keep up with the Robinsons is an impossible task.
Because you are comparing yourself to someone who got into this market earlier and has a larger portfolio. This will cause you to begin doing reckless things. Perhaps you will begin to trade with leverage. Maybe you will try using 3rd party lending services to earn a passive income. Or maybe you will invest in low-cap coins to make giant profits.
When people try to get rich quickly, it usually ends up with them losing everything.
Finally, the last sign is if you don’t love this market. As I mentioned countless times before; the cryptocurrency market is one of the most mentally challenging and stressful markets you can invest in. There will be days of euphoria when your portfolio is up hundreds of percent. But there will be times when your portfolio will be down 90%+.
It takes a special kind of person to live through crypto winter when every pundit is claiming that the death blow has been dealt to this industry. Only criminals and gambling degenerates invest in this market. The only way you will be able to survive this market is if you truly love it. Loving to wake up each day and see what new developments there are in the crypto market. Researching and trying out the latest projects, and building your own conviction. That is the thing that will prevent you from having an early exit in this market.
How about you? What are some more signs that people won’t survive the crypto market
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If you find yourself constantly refreshing your portfolio, obsessively checking every tick of the market, it might be a sign you won't endure the wild ride of the crypto market. Another red flag? Relying solely on a hastily purchased crypto exchange script, instead of understanding the fundamentals. Additionally, if FOMO controls your every move, leading to impulsive decisions without proper research, your survival chances diminish. Surviving crypto requires patience, diligence, and a solid understanding of the landscape.
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