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What Fear & Greed Index of 11 means to me (1 year of crypto thoughts)

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by COINS NEWS 161 Views

https://alternative.me/crypto/fear-and-greed-index/

Still a newbie, just cleared my 1 year in crypto. Some things I learned along the way watching the gauge daily:

  • Being down sucks and everyone is hurting. It's best to not look at it if you can't do anything about it
  • Do not sell unless you absolutely have to and have no other recourse (in fiat - there are programs and many available "hardship" withdrawals/loans if you're in a pinch)
  • Buy buy buy if you have any spare fiat
  • 1 coin = 1 coin
  • Yes, some coins trend towards 0. I've lost on ICP, DOGE, SHIB, SPELL, HUAHUA, and a few others. I've gained more than I've lost though
  • DCA is king
  • It's much easier to stomach red days stacked on top of red days if your assets are being put to work
  • DYOR, but I hold very few assets which earn little or nothing (ETH & BTC mostly). Everything else is earning whether in staking, lending, or liquidity pools
  • Have a plan. No plan = disaster no matter how the market goes. My plan for 2022 is to accumulate until June and take profits the remainder of the year, then start the process anew. Market conditions don't matter (only difference will be what the daily profits are)
  • The beauty of staking/LPs is you get SOME return and still maintain principal. Yes if your principal is tanking that's rough, but you still own the "same" amount if you can deal with it psychologically
  • Upskill and get a raise, a promotion, or if you're stuck a new job. It's a great market for moving up (at least currently in the US)
  • Don't keep your money on centralized exchanges for the most part
  • Take time to learn a little bit about crypto, the space, the markets, your projects, other projects, the tech, etc. every day. Doesn't take much. 5-10 minutes of reading some article or perusing some news is all it takes. The wealth of knowledge you acquire over a year will be massive and will help you make better decisions (especially when vetting new projects)

Keep your heads up fellas, we'll be green again. Off to mine some fiat

submitted by /u/CryptoDad2100
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