Is It Really Bad As It Was in 2018? .:. Comparing Bear Markets - Late Night Blogging

Occasionally, I check "crypto Twitter" and most of the time because certain tweet notification comes on my phone... I have no idea (nor have I tried to search why) why I do get these notifications from random tweets, often without any topic that I'm interested in...

And on Twitter, like on many other platforms, you have that "trending" part where you can check the "most important news" at the moment... To be honest, in my opinion, I would rather call that part "the most distracting news" as they are usually just mainstream bullshit news that should distract you from other important things... Things that are important for YOU, and not something that you can just talk about without having any power to change it, nor your "thinking" could help at all...

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Something similar exists on YouTube also... And regarding crypto, I watched a video (forgot which one) where someone accused the person to be "too bearish" in these times?! Like, wtf is that even important if someone is bearish or bullish at the moment? Will that change something if some YT said that he is bullish (or bearish)? In the end, markets will do what they do... They will EVENTUALLY show the "naked" reality, despite the pressure of hiding it...

You can create "fake news", fake reality, Metaverse, or any other distraction, but in the end, when people don't have food on the table, they will see the truth... You can hide it... It's like in detective movies when the murderer is trying to hide evidence, there is always at least one tiny thing that it forgets... And that starts the avalanche of truth coming out to the surface... (I've watched Knives Out and I'm still under the influence of the movie 😃)

So, back to the main-main topic of this post... We are in a bear market and that's a fact... We had bear markets in the past, and we will have more in the future... But, to understand the bear market, you should experience one, two, or maybe more of them... If I count my first "excursion" in crypto when I bought 1 BTC in 2013, this is my 3rd bear market... But, I would rather call it my second, as I had no idea what I was doing in 2013-2014...

My first real bear market was in 2018... I mined a significant amount of ETH (for me) in 2017, exchanged some for BTC, bought a bunch of different shitcoins, and hoped for the best... Obviously, it didn't happen in 2018, but it was rather the opposite... It was a slap from the markets directly to my face... I THOUGHT that I have mined gold, I had it in my hands, and then bear markets made it vanish... I didn't sell anything, but the value diminished...

The second bear market (for me) is happening at these moments... It is maybe worse than in 2018 (if we check the numbers, probably it is), but I went into it much better prepared than for the first one... I LEARNED something! Yay! But, of course, I made some other mistakes down the road... lol...

Anyways, we have some questions that have risen up in both markets and there is a HUGE difference between NOW and 2018...

The FIRST big difference is that we are not asking the same questions now as we did in 2018... Four years ago, I wasn't sure that CRYPTO will survive that bear market at all! Maybe all that is just a dream and it will just disappear after that huge pressure which was on it... The bubble will pop out and all my crypto assets will go to zero... That year was probably one of the worst years of my life...

This year, in this bear market, we don't have these questions at all... Institutions are heavily in crypto and (IMO) there is no way to go back and "kill the crypto"... It would be shooting in their own foot, so there is no fear of losing our crypto... Now the main questions are... When it will finish? Will we see the BTC price high as it was before? There is no uncertainty that crypto will not survive, but only the question of WHEN... When will the bear market finish?

So, I suppose that many others are thinking in a similar way to me... We have LEARNED things from past events, and we have EXPERIENCED bad things on our skin, and that's why we are certain about crypto... That's why crypto people don't panic like some "traditional" investors... We are used to these 10-20% dumps in a day... And we KNOW the real value of these assets!

After seeing my HIVE wallet, my friend asked me: "How can you sleep peacefully with that amount on one website?" I can as I know that my funds aren't stored on ONE website, but on a blockchain, where it is 100 times safer than in a bank... It is stored in a cryptocurrency where I know exactly the "rules of the game" and the rules can't be changed overnight! I know the REAL VALUE of that asset and that's why I can sleep peacefully...

It's hard to learn from others' experiences and it's not that "deep learning" as it is when we figure out things on our own skin...

Thank you for your time,

~ph~

PS. None of this is financial advice, but rather my view about certain things in the crypto-verse...

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