Crypto is a mix of sentiment and logic you buy the sentiment and you depend on your logical instinct to make the right decisions. One of the main reasons why losing is a "thingy" with crypto is because of how people are sentimentally affected by the downward movement in price. For example, isn't it surprising that you have more people who are selling when the prices are going down than when it's going up?
This is because people feel comfortable looking at their assets going up, they build bubbles and dreams, rather than being calculative about the right time to take a profit.
For example, BTC holders were so sure that BTC would hit 100k in 2021, many of them built solid real-time goals, depending on the actualization of this price, rather than being logical and realistic. They had their time to take profits but they didn't and many are beginning to tell sad stories as to how they were loyal, but then, this is the manifestation of greed.
Loyalty & Greed: The Thin Line
A lot of people would never tell stories about when their assets were moving up and they were conflicted between taking profit or waiting for the top. Their stories are always tilted to talk about how they kept faith with their favorite project, never sold "the top" and now they're losing.
Now let up distinguish between loyalty and greed. Greed is when you're hoping for what's better than the best. Loyalty is often a test to prove if you can the FUD vibes you get when there are bearish situations. Now, what I consider to be the "best" when it comes to price is always the recent ATH (all-time high) of a coin.
Now there's always a certain kind of expectation that a coin would exceed its ATH, this is because when it's the bull market, people are always building the illusion of insane and crazy prices rather than systematically building for when the prices will begin to drop
It's always considered pessimism when you're thinking of preparing for the bear market in the bull market, but sometimes we create the illusion of "bull" and "bear" even when we now have assets that are not dependent on these seasons to rise or fall.
Why is this?
Greed is when a holder is expecting what's better than the best, rather than systematically spreading or building and taking profit as the prices slowly take an upward movement. . Loyalty is often tested at the bottom and not at the top.
But people who refused to sell when the prices were good often confuse their foolishness with loyalty. This is very different when dealing with assets with use cases and utility. For example, anyone who refused to take profit at Hive's ATH of $3.41 would be different from anyone who refused to do so with BTC's ATH, and here's why.
Building Or Taking Profits: The Dilemma
Hive is more than a Hodl coin, your selling goals can often tamper with building goals and this might tamper with one's aim to attain a certain Hive power or HBD locked in Savings.
For example, locking more HBD increases interest, and even if HBD should disastrously go past its peg, some people would be skeptical of selling the amount they've locked to take advantage. As for Hive, it's "the more you hold, the more you can access" so, for most people who are dogged about building their stake, it's always difficult to take profit even when they know they should, this is quite understandable and justifiable.
However, some Crypto assets are mainly for selling at their peak to build your other solid crypto assets. While BTC is futuristic and inevitability bound to go up, taking profits along the way is how you tend to diversify.
Managing Sentiments Properly
Most importantly, knowing how to merge sentiment, emotions and reality is how to sustainably build a life with crypto. Building solid goals with crazy expectations on an asset that's tilted to get a ridiculous figure is purely insane. We have more hype than what's real selling so many crypto projects.
This is because as the day goes by, more intent is placed on money, this is why you'd have coins like Shiba Inu hitting ridiculous marketcap due to the expectations of the price it will get to.
It's important to realize that even if crypto would change the future and impact the lives of people, it would gradually do so without completely overhauling the process. It's not bad to build expectations, but it has to be realistic to an extent. It's important to take profit irrespective of where the price is heading for. People don't lose because they missed out on a coin's ATH, it's all in the mind.
Interested in some more of my works?
Crypto & The Outrageous Learning Curve: My Splinterlands Journey As A Case Study
Understanding & Adjusting To The Real Purpose Of Motivation
Thematic Expression: African Child (Shot & Edited On My iPhone 12)
How I Create Original Images for My Blog & Why This is Important
Budgeting: Paying Yourself First With Crypto
Establishing Compatibility: A Case For Self-Improvement
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