Bull Market Survival Guide: Hold on to your mindset and keep your wealth

Words: BowTied Bull

Compilation: Vernacular blockchain

We're entering a late cycle (personal opinion), which means things are starting to get really crazy. Tokens started skyrocketing 100x, people started saying "there's no point in holding BTC", and NFTs were trading at ridiculous valuations.

If you're going through such a cycle for the first or second time, you might be a little out of control. Stare at a screen all day, follow friends and family (or worse!) ）。 This article will help you manage these emotions and protect some of your gains by avoiding the "Mike Tyson-style punches" that come with greed.

Mental health in a bull market

Avoid checking prices frequently

One of the simplest, but time-savers, is to set up price alerts instead of constantly checking prices.

If you're experiencing a bull market for the first time, you may get into the bad habit of waking up in the morning and checking prices before going to bed. This habit indicates that you have a price that you are willing to buy and a price that you are willing to sell.

Understanding this, you can save at least 30 minutes a day. You won't look up prices in between workouts at the gym, and you won't check prices just after waking up in the morning or before bed. You will have a clear price range for buying or selling.

Since this is the beginning of a crazy period, we guess that most people will set a buy alert instead of a sell alert.

In conclusion, set up price alerts for your tokens, which will avoid frequent price checks and wasted time.

Research & Work

99.9999999% of people will accumulate all their wealth through their careers. While we focus on WiFi (e-commerce) and other web-based businesses, the core principle remains the same: striving to build equity in your own business is always the number one priority.

New coins skyrocket 100-1000% every week. Even in 2022 and 2023, if you're still looking at this space, you'll see that. If you find yourself constantly checking prices or browsing memes on X, your hard-earned (or could have earned) value diminishes with every second passes!

Instead, set aside a specific time slot to look for new items. Your focus could be DeFi, NFTs, AI proxies, or memes, and we don't care. Everyone's strategy is different (we'll focus on DeFi, NFTs, and possibly RWA, if Blackstone starts promoting this narrative aggressively).

In conclusion, set a dedicated time to study cryptocurrencies so as not to overlook your cash flow machine. When the music stops, you'll be one of the few who can buy at a discounted price.

Avoid discussing cryptocurrencies with "ordinary people".

This industry has been around for a decade. The basics have long been known, and now the quality of people entering this field is extremely low, and they do not know even the most basic knowledge. It's good for your investment, but it's bad for your mental health.

Instead of trying to educate them, simply say, "I don't know much, I'm just holding a small amount of Bitcoin." This will save you a lot of time. Your logic is that you only hold a small fraction of the "most famous coin" and that's it.

Now is not the time to convince others. If someone doesn't make a fortune during this cycle, the floor price will be too high for them and they will never be able to open a position. This means that you don't have to talk to your uncle Sal about "computer money on the network". It was already too late for them.

In conclusion, avoid communicating with ordinary people. If they don't even know the difference between centralization and decentralization, there's no need to keep talking. You can test their knowledge by saying, "I don't know much, tell me about cryptocurrency." As soon as you hear the wrong message, end the conversation decisively.

Hold "de-risked" assets

The problem with a bull market is that your net worth grows exponentially. When you reach or approach your "target number," you ask, "Where else can I invest this money?" This problem can lead you to continue holding and potentially end up losing your life-changing gains on the extremely valuable Animal Coin.

If you don't have a plan, you're going to lose everything. We recommend that most people put money into their primary residence. Others may choose to invest in stocks. It depends on the composition of your portfolio.

Just because the meme coin is up 1000% and the S&P 500 is only up 10% per year, doesn't mean you should hold 100% of the meme coin. If you do, you'll most likely lose everything in the inevitable -99.99% crash of the meme coin.

In short, be clear about what the money is used for. If you're just trying to make the numbers on the screen bigger, you're likely going to lose this bull run. Clarify the specific use of funds.

Don't neglect your health or personal life

I'll admit I've made this mistake many times, but it's really not worth it. The basic measures listed above will actually help you a lot. If you set up a price alert and have a clear target asset for de-risking, you'll do better than 95% of people (really).

Additionally, we recommend setting aside at least 45 minutes of exercise each day.

In addition to this, maintain normal personal life time. This varies from person to person. If you're in your 20s, it usually means a Thursday and Saturday night out. If you have a family, it means maintaining a daily schedule with your children/wife or other family members.

If you have to choose between the two, you can reduce the workout time by about 25%, but not more. If you reduce from 5 to 4 days a week for fitness, it's not a big problem and understandable. But if you reduce it from 5 days to 2 days, you will regret it.

summary

Everyone's life situation is different. We don't care if it's $50,000 or $50 million for you and it's life-changing, it's the same. You need a basic system to prevent yourself from falling into madness. The above recommendations may seem simple, but they are very difficult to implement.

Set specific price alerts for the asset you want to buy or sell.

Make sure you keep your main revenue stream on your hands and continue building your WiFi business. Set aside a specific time to research new projects/NFTs, etc.

The sole purpose of money is to improve your life, make sure you know what the plan is – a house, a car, or other specific goals. Don't forget the meaning of the numbers on the screen.

Don't ruin your health or personal life. You can indulge in a bull market mania a little, but it's not worth sacrificing your health for the sake of "potentially earning 10% more returns." It makes no sense, and you'll pay a heavy price when the next bear market comes (we're not going to go down in a bear market).

Lady Luck's rules

If you're experiencing a bull market for the first time, you'll most likely hold on to a 60-80% drop and maybe even lose money (a lot of people fail because they're greedy). If you're experiencing it for the second time, you may sell too early because of the trauma of a previous cycle (PTSD).

Rule 1: Don't go after integers

If you're young, your goal is $1 million? Guess what's going to happen, you might reach $876,000 or close to that number, and then the market suddenly pulls back sharply.

If you're aiming for $5 million? You could reach $4,678,923 and then suddenly have a -70% crash. And so on.

Lady Luck doesn't like whole numbers, it's almost a psychological manifestation of greed. She will take away your wealth in no time.

Rule 2: Never tell someone about your wealth

If you want to increase your chances of gaining generational wealth, the goal is to tell everyone that you are poor and have nothing. If you have 10 BTC, say you only have 1. If you have 10,000 ETH, say you have 100. And so on.

If you shout on TikTok "I told you a long time ago!! Because a certain coin has risen 5x, we're sure you'll lose everything and more in a bear market.

With the exception of celebrities or professional athletes, Lady Luck only bestows large sums of money on those who keep a low profile. Who is Aron Landy? That's right, most people have to look it up.

Rule 3: Be happy with anyone who succeeds

The vast majority of people are jealous. If you get 95 out of 100 times right, they'll keep highlighting the 5 times you're wrong, not realizing how often you're right. If an error is rare, it is not the norm.

If someone makes 10x on Meme coins, cheer them on. NFTs earn 2-3x, and the same. Envy or envy does nothing good and will only reduce your luck.

Lady Luck always rewards winners. If you don't need something, you'll get more. If you are always jealous or hate others, your luck is likely to be transferred to them.

Rule 4: Sell when the ego is inflated

You've probably mentioned crypto to a few people, only to get strange looks and you've tried to explain it to them countless times. Even if some people understand a little bit and hold a small amount (say 2 BTC), they may think you're crazy because they're just jokingly buying some and don't really understand (otherwise they'll be as crazy as you are).

If your parents and friends – those who used to laugh at you – start saying "you're right," it's time to sell.

Lady luck doesn't give anything back to people who don't respect money.