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The bear market has did a handful on me but I managed to came out on top

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by COINS NEWS 85 Views

Well... things were all fun and games during the bull market because people left and right were screaming bullish stuff while flexing their profits... and that did rub off on me a little. Obviously I lost alot of money/profit with the whole FTX going bankrupt. Not only that, I was scammed and drained a couple of times too - things just weren't going well for me.

Anyways, I managed to overcome the ordeal primarily by changing my mindset. One of which was to:

  1. Become a long-term investor.
  2. Protect myself from losses by diversifying investments.
  3. Focus on safe and steady returns rather than seeking high-risk, high-reward opportunities.

Becoming an intelligent investor became a priority to me which involved identifying "sleepers" or coins with tremendous potential growth all the while protecting my assets, minimising losses and whatnot.

Mr. Market Maker can be a really harsh person

Also, I tried doing futures trading and burned my hands, especially during market-moving events. Despite the market's daily fluctuations, fundamentals do not change. It is just our emotions that are messing with us, swaying us everywhere. As humans have the tendency to seek patterns which can lead to erroneous assumptions about crypto prices, it is worthy to remember to focus on your own research and analysis to make informed investment decisions, independent of Mr. Market Maker's daily quotes.

Lastly, having a strict formula for investing helped me so so much. This came in the form of dollar-cost averaging above all things, which eliminated having your emotions involved in decision-making process.

All in all, I love who I have become and am somewhat thankful for the disastrous experience mentioned above. I hope that none of you will have to go through what I did so make sure to be really careful in this space!

submitted by /u/cassiopeiamedusa
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