The market will mess with your mind
I was speaking with my partner today, and she was feeling unmotivated to get to work. She had not sold any of her artwork in a while, and the bills kept piling up. To make it worse, someone scammed her of 11 Eth. To make matters worse, she invested approximately $500 in a yield protocol.
We were just testing the protocol to see if we could make more money later on; unfortunately, the yield has been poor, though we may still make money later on. To cut it all short, If her 11 ETH were not stolen she could have been in profit of $33k by now.
Obviously she didn't buy any crypto, and over 50% of coins were pumping. She could have invested some money in a coin two or three weeks ago, but if I had told her last week to do so, she might not have listened.
She is currently regretting not throwing even the smallest $200 on any coin, and she is already concerned that she may have lost everything.
I told her that these were the initial pumps and that there might be a correction by Sunday or Monday and she could try again, but she did not seem to be listening.
She's a literal newbie when it comes to investing, and even after giving her a little tips, she still didn't pay attention. Here's what I predict: in the next month, she will have even more regrets because I told her to wait for corrections before buying, and she didn't.
This is how typical retail money behaves: they regret their first opportunities, but then fail to correct their mistakes, and then go on to repeat it again, and before they eventually correct their mistakes, they will be buying close to ALL-TIME highs due to FOMO, and then become exit liquidity.
The market disrupts your mental health and causes emotional bursts, causing you to behave erratically.
I was speaking with someone today, and they mentioned something very important, to which I responded by saying that even the biggest or highest level of financial coach will not survive the trauma of the market's rollercoaster, unless they are holding only Bitcoin. 2025 is beginning to play out like 2021 not in terms of price of pump action, but in how people are literally making the same mistakes of 2021: selling out of fear that the market won't pump, pivoting to another coin, hoping to do x50, only for the initial coin to pump.
I've seen this pattern again recently.
If you look around, you will notice that many people are selling their old coins and switching to new ones that are pumping.
It's the classic market behavioral pattern that was popular in 2021, and it's even worse with the "no altcoin season" analogy that's been going around since MARCH.
This market has not even begun to mess with your mind, unless you are into memes, BTC and ETH, and possibly SOL, PENGU, and XRP. There have been no noticeable changes in the alternative market that have resulted in widespread happiness or joy. It's pivot season, and what do I mean by that?
This is when people's convictions are put to the ultimate test. The fear that the bull run is over, or that they will not make it, is why many people are quickly switching sides. Obviously, I will not give anyone advice on what to do. Pivoting has its advantages, so do not let anyone tell you otherwise, but it also has consequences.
Holding on to what you have can have consequences as well.
So everyone is their own financial advisor at this point, but one thing is certain: the market's fireworks have yet to begin.
However, it will probably be too late, as up to 80% of people could have sold their bags. I am using my recent market blogs as a form of lesson; hopefully, I will be able to go back to them someday to see if most of my calls were correct.
Interested in some more of my posts
Why Is the grind getting harder?
Monopoly Is the Death of Civilization
Survival: Choas and Scarcity
Crypto: Gut & meaningful Connections
What is the primary barrier to entry in Web3?
What Are Some Things You Should not Do During A Bull Market Year?
https://www.reddit.com/r/Crypto_Currency_News/comments/1lxsh2m/the_market_will_mess_with_your_mind/
This post has been shared on Reddit by @bhattg through the HivePosh initiative.
FOMO is going to kill off a lot of newbies, never chase the market is rule number one. But the scammers out there ripping people off like your partner really don't help out crypto. That really sucks that someone did that, but criminals love to prowl in the world of crypto to scam people. 11 ETH is a lot of money, a nice chunk of cash that I would be upset to have lost too.
We'll see what happens next out there, XRP may be a good play as their ETF's are sure to be approved shortly. Maybe alt season may yet arrive? I just Hive doesn't get left in the dust.
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With FOMO, it's crazy. I wonder why people will never choose to do their research, buy the coin before it pumps and then take profit, why wait when it's 85% close to ATH before buying and then makes the most terrible financial decisions.
As for my partner, she's obviously still a newbie in the game, she was paid in crypto for her arts and then some person scammed her of all the money.
XRP looks really solid, no one thought they'd survive that initial court case
I picked up some XRP some time ago, I think I'm going to pick up some more this weekend. Not a huge amount as I'm not flush with cash, but some profit is better than none.
Than really sucks what happened to her, you have to be really careful even as pro. If you type in the wrong address some scammers have identical sites with a common misspelling to steal login and passwords to steal accounts.
I can understand how frustrating it must be for your partner to have lost 11 ETH. It is even anonying to see that she is not making sales as of now. But only for her to watch how the market pumps without being part of it. It’s painful.
What you said about people repeating the same mistakes from 2021 is so true. The fear of not losing their investment and the regret of not getting the right coin in invested in.
To buttress what you said, I can say that the market really plays with emotions, and if you’re not careful, you end up buying high and selling low. I must say that it is not easy to predict the market and no one even knows what will happen in the end. Seriously, a lot of things have changed as far as cryptocurrency is concerned. Seeing how btc is acting up and down is even strange, and the others ALT didn't even go up with it, making it sound more strange.
The sentiment has not change, but it's true that times have changed. You're right with no knowing where the price is going. Someone told me today that someone they know sold all of their assets two weeks before that asset pumped. Crypto can be crazy, this is true, but CZ Binance said "if you cannot hold you can't be rich". The market will eventually go up, I mean the alt market, but a lot of people may have sold everything they have and left the space, and then only a few gets to take profit, it's that wild and harsh.
Hmm, truth!
I think it's silly that people are always looking for the next get-rich-quick pump scheme. We need to get back to sensible monetary ideas and get onto something that will rise steadily, or bump up quick and level off but not going parabolic. There's too many scam stories out there of that type of stuff and I think people don't realize the ones who potentially made money off of something knew they would get bag holders.
Hopefully your partner can cool it down a bit and learn the crypto lessons. It's a bumpy ride but it requires patience!
Yes, it's never a get rich quick scheme as you've said, but many folks will continue seeing crypto as such. Memes are flying everywhere and people are buying all over the place and all that. Lessons will never be learned, I guess. I think the reason is because many people leave as fast as they come, and the new set of people continues the repeat the same old mistake.
she could buy hbd and earn the sweet APR tough! and its a stable coin
that happens with bets too, you mistake, think you have fixed the behevior, repeat mistake, lose more money... when money is involved we keep doing mistakes for emotions
I told her already about HBD, but perhaps someday she'll be convinced. She only earns 5% APY on that coin, but she is also using it to test the site, as it's a DEFI AI protocol. I think when she has money again, I'll be able to convince her.
This is even scary especially for we newbies when it comes to investment.
I hope not to mess with everything and gain little profit in this cycle
I am just open to more knowledge so as to know the better action to take at a point with my portfolios
Yes, I'm learning a lot as well. This was the lesson I should learned in 2018, but obviously I didn't learn it, when alts pumps very soon, ill have learned my lessons and I'll be wiser.
It's tough, and its always hard to get over the initial setbacks. I think the scams are out there, and honestly, they are so common. I hope she is able to be optimistic again, as dwelling on it won't help you going forward. Just learn from it and do better next time.
Yes, she is optimistic. The money that was stolen from her was from her art. She was paid and someone else scammed her of it.
This post really struck a nerve, especially when you mentioned how the market messes with our minds and puts pressure on our nerves in a way that's hard to describe.
Yes, thank you
11 ETH is a huge amount of money, but you can only advise your partner you can't make decisions for her, people sometimes seem to make same mistakes over and over again before they learn their lessons, maybe her next regret will give her a rethink.
Feeling bad for her … but I think with your tips and motivation she starts to invest and not regret