We do not like to go through a hard time. We expect everything to move in a positive direction. But when you go through hard times, you realize what actually works and what you should and should not do. You know how difficult it is to make a living when you have a financial crisis.
It is easy to make a profit when the market is in a bull run. You can buy the worst shitcoins ever and still, you see the price goes up. So you make a profit. It seems it is very easy to put your money in crypto and earn a lot.
Meme coins that were nothing but a joke go up so high as if it never comes back. People talk about meme coins, stories pop up like how to become a millionaire with the power of meme coins. You are just someone's one tweet away to make a fortune in crypto.
Maybe at some point, you think that since everyone is making money putting their money in those popular meme coins, what's wrong if you put your money there. Making money is all that matters, right?
When the crypto market changes its color and starts a downtrend, you see only one color, that is, red. You thought to make a fortune, but it becomes a nightmare. When BTC price falls, altcoins price falls like crazy.
Now you realize the reality. What works well in a bull run does not work anymore. In a downtrend market, the crypto price rises a little bit, and you think the price is going to bounce back, so you buy at that level, the only thing you see next is that the price dumps harder, and you lose more money.
You do not care about putting stop loss. You see in a bull market, the price always goes up. What you earned in a bull market, you not only lose your profit but also lose your capital.
Putting your money into shiny objects will not do any good to your financial situation. You may make some money, but you lose way more than that. What's the point of making 50k when you lose 51K? You feel like becoming rich. As a matter of fact, that's just a feeling.
Hard times teach you how important it is to save capital. You can make money in crypto, but if you do not take any steps to save your capital when you put money in crypto, you end up losing your hard-earned money.
Having a hard time can teach you valuable lessons and that can change your financial situation. You will not get distracted by shiny objects. No matter how much money other people make doing something does not matter. You do your thing based on your research and analysis.
Thank you for reading this post. Please feel free to leave your comments. That's it for now. I'll be back with another post.
About Me
Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about lifestyle, finance, martial arts, and digital marketing. I'm glad to meet amazing people all over the world.
Follow me on Twitter
Watch my videos: 3Speak, DTube, Lbry, and .
Posted Using LeoFinance Beta
