Are you prepared mentally?: a realistic outlook

A lot of bs can be seen on social media and even this sub about what’s coming next. Let me tell you: absolutely nobody knows what is coming next. Predicting the crypto market is impossible. However, we can be prepared for several scenarios.

Scenario 1: There is a market trend reversal and we start pumping.

Scenario 2: Shortened cycles where the bear lasts for less time than previous bear markets

Scenario 3: We enter crypto winter and this trend continues until approximately 2024-2025.

We can all speculate on what we think will happen but I think it’s good to be prepared mentally and financially for each scenario because any one of those could happen. I tend to think scenario 3 will play out but again predicting the market is pretty dubious.

Are you mentally prepared to watch your portfolio dwindle to peanuts of what it once was? Are you ready for an accumulation phase? Are you ready if the market trends upwards with a reversal?

This post isn’t to cause FUD but is a reminder to have a plan. It’s a famous chess saying that “having a bad plan is better than having no plan.”

Keep that in mind. Be safe out there.