When nothing is happening in the cryptocurrency market, that’s your opportunity. Take that as an invitation to take a break from cryptocurrency, confident in the fact that you’re not going to miss anything. Invest the time in developing your mindset so that is ultimate what separates people that win and people that lose.
Question: Do world class sports teams online practice when they are winning?
Of course not! They practice consistently. And that’s the philosophy I believe to adopt to succeed at anything. Remember the big money is made when you buy, not when you sell. Because buying high and selling higher is not very profitable. But buying low, that’s the thing that makes the most differences.
During the winter, focus what it’s like going to be in the summer when it returns, when it inevitably will. Every single year. When you hear about someone making a $100,000 profit in a down market and feel flustered and start posting you don’t want to see that, my response to that it says more about them, than it does me, it betrays their negative mindset. Do you think somehow my cryptocurrency portfolio has been immune to this bear market? Of course not. But focusing on that would just make me feel bad and probably result in coming to the conclusion that I needed to sell. Instead, I decided to focus on what I wanted, rather than what I didn’t want. I want to bet money on projects that are going to have a profoundly positive impact on the world, because it’s those projects that will grow and provide the financial returns.
So this whole notion of changing the world, versus becoming wealthy, cannot be separated. It’s not one or the other. Yes, coins move in price because of pure speculation, but in the long run, the solid projects that have the most profoundly positive impact on the world are the ones that grow and maintain their holdings. By supporting those good causes, you make money by default so the two are inseparable.