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As we reel in from a massive drop in all markets, getting a grip on our fears, uncertainty and doubts also known as FUD is always a challenge.
A bear market occurs when the market drops by over 20% overall. All markets are subjected to human manupulation. Behind the chart readings are basic human emotions. Do not let anyone tell you otherwise.
After a spectacular bull ride comes as it should a correction. This one feels quite painful due to the fact that small investors got caught in the hype in the last quarter of 2020 and early 2021 and who could blame these folks dreaming of a more comfortable life moneywise.
There are millions of investors who perhaps never heard of cryptocurrency until last year, and got caught up in the euphoria of one of the largest bull runs in history. Many of those who bought high and delayed too long in selling got badly burned.
I for one took part by investing a fair amount into cryptocurrencies. As I write this, my ROI is taking a beating from the amounts invested in january of this year. My initial investments from over a year ago are still in my cold wallet and needless to say that these first investments are returning a positive ROI but they too have been decreasing far faster than I had hoped.
As a former banker, I do exercise caution when it comes to putting my money to work for me. And I have yet to tame the bear. The thing is that taming a bear is impossible in the wilderness and to this day, the same goes for markets be it crypto or conventionnal stocks.
So how does one meet and greet the dreaded bear you may ask ?
You may look at the bear and think PANIC which is the worse thing to do in any event.
Earlier this week, I thought it would be smart to take advantage of the price drop and I did dipped a little. But the markets kept slipping soon after and then I thought I am no longer in my comfort zone... The Crypto market is in such a turmoil that it is absolutely unpredictable as of now and it may well remain unpredictable for the coming weeks.
I figure that for the time being, I will let the bear do what it will, I will not buy nor sell but just Play Dead For Now.
Yup !! I will PDFN.
You can also read my insights on the TORUM Social Media about Cryptos.
Come in and join Torum & share your knowledge.
