They say good things come to those who wait.
A lot of people entered the cryptoverse at the height of FOMO in early 2021, only to scatter in fear after what some might call the death drop in mid-may, when there was so much red the eye couldn’t even fathom seeing a slice of green ever again.
Yet, for those who stayed the course during those rocky 3-4 months, many are now seeing green for the very first time. That in itself can be overwhelming for some but it teaches us an important lesson.
It is about the long game and not the short term, and that my friends requires patience (amongst a bucket load of not pulling your hair out as your screen is consumed with red figures!).
I’ve come across very few people in this space that are genuinely interested in the benefits of blockchain technology and crypto becoming the new financial operating system for the world. That’s not to say they aren't out there, because they most certainly are.
The majority of us are in this space to increase our wealth and create a better financial future for ourselves. And, this is completely fine - it should be commended that we want to take control of our financial future.
Anyway, the problem with the “I’m doing this to make as much money as possible” mentality is that 99% of people underestimate the time investment that’s needed to produce satisfactory gains.
Too many of us see articles across popular media sites preaching a ’get rich quick’ scheme mentality full of Bitcoin and Dogecoin millionaires, who seemingly amassed a fortune from their digital assets in days. This is a false reality and applies, perhaps, to only the 1-2% of people in this space. Plus, that’s about luck too - right time, right place kind of thing.
The real secret weapon in all of this is actually not so secret at all.
It’s about creating a mindset of patience, and yes, I know, easier said than done.
Houseplants x Crypto
An analogy I always like to share with investments is around buying and growing your first houseplant. For whatever reason there seems to be a lot of commonalities between growing houseplants and investing that seems to make sense, well, to me anyway.
If you buy a baby plant from a local store, you don’t purchase it for what it is right now, you purchase it for it’s potential. And, in order for it to reach that potential, you’ll need to do a little bit of work and have a bucket load of patience.
They’ll be times when your plant does absolutely nothing for weeks or months. Not one bit of growth occurs and it will often leave you wondering “Is this thing going to survive and grow?”.
Then they’ll be times when it seems like everything is going well but disaster strikes out of nowhere. Our plants lose leaves or start drooping due to poor care which means we need to intervene and rebalance what’s going on in order to keep on this path to potential.
And, then, like a bolt out of lighting from Zeus himself, our plant starts to grow and grow, and grow some more. After persevering for months and years, that tiny little thing you purchased at the store has now turned into a formidable colossus which makes your home look beautiful.
This is exactly the same in crypto. We buy coins not for where they are today but for where they could be in the months and years to come, aka potential.
Like a plant, when we buy a first slice of BTC or ETH, it will be small and seem perhaps puny to us at that time. But, with support and patience you will see those investments grow. There most certainly will be times when they drop down into the red for no reason but we’ll have these same times when they rocket into green territory and beyond.
So, the message here my friends is simple - your investments require patience. Keep in view that you don’t invest for what you have today but rather, the potential in that investment for years to come.
More from me
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Important ??
I’m not a financial advisor, a psychologist or any from of accredited professional. As such, this is not financial advice and I’m not qualified or licensed to provide anything like this. This content is a bunch of thoughts from a fellow human for educational purposes only — that is all.
