The crypto markets have tanked. A retrace was inevitable. Now what?
Many of our investments are down 90% over the last six months, perhaps even the last six days. Maybe this is your first bear market, but it won’t be your last. That knot we feel in our stomachs–that urge to dump it all–may continue to yank on our emotions for quite some time. We won’t let it. Emotions must not dictate our course of action when it comes to our crypto portfolios.
The world of crypto will always be a choppy ocean, and unless we have a half-dozen zeros after our names, most of us will remain a small ship navigating its waters. We have one job now: calmly and safely pilot our ship through these market shocks. The skies will begin to clear soon. We got this. Let’s go Blocksters!
Keep Forward Motion – Buy!
When threatened with large waves, a boat must turn its bow so that it can directly crash into the waves head-on—at the fullest speed possible. It will surely be rough going for a while. But however scary, the boat will press on, intrepidly aloft of any treacherous undulations that may emerge. Let the waves toss us! Eventually, the sea’s aggression will abate, and safe passage will be secured–and our bags filled once again. Our best buying opportunities arise when our fear of losing our ship is highest.
No Running Away – Don’t Sell, Don’t FUD
In contrasting fashion, if our ship tries to run from the rough surf and turns its bow away from the waves, it stands an increased chance of being capsized by the waters that seek to broach its stern. And if our rig attempts to chart a course that runs parallel to a sustained series of high swells, the likelihood of peril becomes even more eminent. In such a position, our ship will inevitably be flooded by the waves that gush and break over its hulls.
Finally, if our craft opts to presume a stationary posture – as we impotently and angrily resort to fretting and fudding – it runs the highest risk of catastrophe: its fate is placed exclusively in the hands of the surging sea, where it will be swept away to destinations undetermined.
Which Way Captain?
We are now navigating the most clamorous oceans in the history of crypto, but we have a few choices: we can try to race back to our harbor of origin with the hope that we can outrun the market fury; we can dispassionately sail sideways; we can stay stationary and be violently tossed about by the markets; or we can sustain our advancement by fearlessly charging headlong into the waves of market shock and keep aping in.
Our ship is strong. Our navigation skills are beyond reproach. We will stay the course that we have charted: we will keep HODLing and continue buying, boldly forging ahead into the market’s stormy crests, defiant in our refusal to be overrun.
Living the crypto lifestyle means dealing with uncertainty, beginning with market fluctuations that are often mockingly absurd. Crypto prices will moon and correct in a matter of minutes; in our world, sentiment frequently bests sound financial fundamentals and tokenomics. Being a Blockster means charting a steady trade route and holding the water line. We capitulate to neither FOMO nor FUD.
Loosen all moorings and sail into the crypto lifestyle. Keep HODLing and aping. Find order in chaos.
William Laurent is Blockster’s Editor in Chief. Widely published throughout his career, Will is regularly featured in American Banker, Foundry, and Tech for Good to name a few. He’s advised over 30 Fortune 500 companies across North America and Asia on content strategy, data visualization, and digital/cultural transformation. He is an influential educator, writer, artist, crypto dad, and husband. His artwork and NFTs are sought-after collectibles. Connect with William on DeSo and LinkedIn.