Temptation and Suffering In Crypto

You have money. You can get the opportunity to make more money. Your money will work for you. Your determination and execution will shape what you will get. You are saving money to invest. That's great!

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Because of temptation, we make the wrong decisions. Sometimes you feel what you are doing is not right, but everything is fine as long as you make money. You see the problem when you start losing money.

Then you complain and blame others and call it out as a Ponzi scheme. Because of them and their fraud, you lose money. The thing is, they did not put a gun on your head and tell you to put your money there. You did it.

When you saw some people make 3x, 5x returns quickly, you did not do your due diligence. You are the one who feeds the beast. And now you see the consequences.

In a bull run, it seems if you throw money anywhere, you can make money. Every crypto price is on the rise. Meme coins pumped hard in the last bull run. Maybe you felt that buying meme coins could make you rich. People were talking about meme coins and news came out about how meme coins made some people millionaires.

Due to the temptation, you might buy some shitcoins that you know it does not value in the long term. Still, you cannot hold yourself from doing that.

That temptation turns into suffering later. And in a bear market, you cannot look at your portfolio, it looks scary. What you don't know, you may not act on time. But when you know, you are capable of making the right financial decision, don't fall into the trap of temptation and start suffering.

Managing your emotions is very important. When you take an entry and buy crypto, you should know why you are buying. Do you follow any system? Or do you just buy in a hope of making a lot of money quickly?

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When you follow a system, you follow some set of rules. At the time of taking entry, you know what would be your expected return, stop loss, and how long you are going to hold that crypto.

When it hits the stop loss, you get out of the market. As a beginner, it is hard to take the stop loss and exit. It seems you are losing money. Yes, you lose little money when it hits stop loss. But it saves your capital.

You make a lot of money in a bull run, but if you cannot exit from the crypto market in time, you lose most of your capital. That could be the worst thing. Well, if you plan to hold for 10 or 15 years, that's different. You should decide that at the time of taking entry.

Sometimes we learn something the hard way and that is necessary. You feel the pain and you will not make the same mistake again. You have experience, you can manage your emotions in a better way and execute your strategy properly.

So what do you think? Please feel free to leave your comment. Thank you for reading this post.

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Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about lifestyle, finance, martial arts, and digital marketing. I'm glad to meet amazing people all over the world.

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