I read a post about a guy who bought some NFT from a project and did not see the value of the NFT pump as they would have expected, so they sold due to FUD of losing the money they paid for the NFT. Most people in crypto projects do the same thing: they invest heavily in something that promises enormous wealth, hoping for the best.
Sometimes these bold moves pay off, and sometimes they don't, and you end up losing. Most of the time in crypto, you can either go slow or fast. Most people would choose "fast" because it allows them to make money faster.
If you ask me, this is not really greed; I believe the market provides "giving" and "taking" opportunities, and you can lose unexpectedly even if you have high expectations.
For one thing, I will never gamble on NFTs; I believe the hype has faded since 2021 and that they have no intrinsic value, but there are some people who still believe that these things can make them wealthy.
Do not get me wrong, if you do not make money with cryptocurrency, what is the point? I simply believe that there is no easy money in crypto, not in DEFI, NFT, or day trading.
Most of these stuff carries high risk and if your pocket is not deep enough, you'll just get burned. It takes more money to make more money, and when you can not take risks without fear of financial consequences, I do not think it is worth risking your position for the chance to double it.
This is why solid crypto projects should be prioritized. They may not give you the entire amount, but you can be certain that your portfolio will gradually grow.
To make life-changing money, you must be more risk-taking and greedy. This is where the justification for risk stems from. When there is enough justification for something extremely dangerous, there is a corresponding motivation, even if there is the risk of loss.
For example, if you do not eat, you will eventually starve, so you must work to eat. However, while working, a hazard may arise and something dangerous may occur. So if you do not risk, something bad could happen; if you risk, something bad can still happen. There is no way to avoid risk; even if we do not take actions that put us at risk, our inactions can have serious consequences.
This is where humans get their justification for taking risks, and this is how they deal with it when those risks fail.
Many of us are counting on the bull market to make significant gains. It simply means that some of our plans are dependent on how the market performs, and the fear of relying on something beyond your control can be frightening and cause feelings of uncertainty.
However, this is what it is.
You either stay in, hold the line, or leave for the sake of your psychological health.
I have been following the cryptocurrency market for a while, and for the first time since July or so, we are seeing green without corresponding dips. However, I believe we may see a flash crash before the end of September, and that will be the for the year. Once again, the market sentiment feels bullish, and people are beginning to FOMO
The feeling of FOMO provides relief; technically, your bags have not yet been pumped, but they are no longer in the red. For the first time, it appears that you will realize the profits you have always desired. For example, when meme holders profit, it appears that actual utility asset holders are making mistakes.
It is the same with alts.
Most of the time, when BTC is doing amazing numbers, you start to regret making alts your main bag, forgetting that most reasonable alts outperform BTC at the peak of the market.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using InLeo Alpha
