BTC has relapsed after being in remission for approximately a week. Did not many people predict that by the summer, alts would have started to rally? What about those who believe that by the summer, we will have stopped bleeding and will have a few weeks to recover before taking the final plunge into greatness?
Yes, many people predicted this, and there is nothing wrong with that; the difficult times for cryptocurrency have yet to end, and the only people who are most affected are those who do not have enough money to take advantage of these low prices. So, when people can not wait, they usually leave; when the panic becomes too much for them, they simply give up.
No matter how much you're a believer in crypto, a time will come when you'll give in to FUD. It is not in people's natural disposition to survive when times are difficult; people can only persevere when there is clear evidence that joy will come.
For example, the coming of bull market is not etched, it's a phenomenon that's made historically made possible. However, a significant event can persuade people otherwise. The bull run is not as routine as getting up in the morning. It is an event that is dependent on a number of factors, and when these factors are present, there is a belief that the bull market will occur.
At the moment, the market's depressing state makes it unlikely, and this is because we are primarily emotional investors and holders. This is why I believe the toughest people are the ones with the most money to spend. Why do regular people hope to make x50 with their $100? They become depressed when the market reduces their initial capital to $70, $60, $50, or even less.
This is not to say that the bear market does not make the rich cry; it does, but their comfortable financial situation makes them more mentally stable, making it difficult for them to throw in the towel and quit. So having extra money is what makes people strong.
I saw a tweet from a guy who was talking about dealing with chronic depression and how he had not overcome it in decades. Many people gave him different advice and told him to stop being negative. Unfortunately, these people could not even understand the man. They thought he was a quitter, but they did not realize that having something to hold on to can help you become tougher.
Recently, we have heard about large organizations scooping up millions of dollars' worth of Bitcoin; the deeper the dip, the more they scoop. Microstrategy and Michael Saylor, for example, are constantly in the news. He appears to be addicted to Bitcoin and hungry for more, and to think of it, this was once a guy who despised Bitcoin.
From the perspective of a regular guy, you might wonder, "Does these guy not see the state of the market?" Aren't they afraid of losing all that hard earned money?*
However, these are primarily the thoughts of those who do not have enough money. It is the mental capacity of someone who has not had the opportunity to take a significant financial risk.
Risk is a calculated gamble; the more you have, the more chances you can take
Nobody throws away the birds they have on hand; they only do so if they have another.
For me, I feel like there's nothing like training to undertake a risk. When people have a safety net, they become more willing to take risks.
Now, some may argue that BTC is a better investment, which is true; however, do you believe these people do not purchase alternative coins? I believe they do, but they are unlikely to tell you.
So there are not really tough people in cryptocurrency; instead, we have people with money and a plan.
August may simply be a forerunner or harbinger of what September will bring. September has historically been a bad month for cryptocurrency, and I believe BTC will drop to 58,59k again. The market will experience another cleansing before the end of the year, this time due to a potential depression in September. Indeed, tough people don't last.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using InLeo Alpha
