Stay sane during the madness of the crypto market

We are entering the later stages of the cycle, which means the market is beginning to show signs of madness. Token prices have skyrocketed hundreds of times, and some people are starting to question the significance of holding Bitcoin, while the trading prices of NFTs have also reached unbelievable levels.

For investors experiencing this cycle for the first or second time, it may feel overwhelming. This article aims to help you manage these emotions and protect your partial gains by avoiding excessive greed.

Mental Health Management in a Bull Market

Avoid frequently checking prices

Setting price alerts is a simple yet effective way to save you a lot of time. This can help you avoid developing bad habits, such as checking prices right after waking up and before going to bed. Once you understand that you have a clear range for buying and selling prices, you can save at least half an hour each day.

focuses on research and work

The vast majority of people accumulate wealth through their careers. No matter what industry you are in, establishing an advantage in your field should always be the top priority. Although there are often surges in token prices in the market, don't let these distractions divert your attention. Instead, you should allocate fixed time to research new projects, which could be in DeFi, NFT, AI, or other fields, depending on your interests and expertise.

Avoid discussing encryption currencies with outsiders.

The cryptocurrency industry has been around for many years, and the basic knowledge is already widespread. However, those entering this field now often lack fundamental understanding. Instead of trying to educate them, it is better to simply state that you don't know much and only hold a small amount of Bitcoin. This can avoid unnecessary arguments and wasting time.

holding "low-risk" assets

As the bull market drives your net worth to grow rapidly, it is important to have a clear plan for the use of funds. Consider allocating some of the profits into your primary residence or other stable assets. It is unwise to hold high-risk assets just to see the account numbers grow.

Do not neglect health and personal life

After setting price alerts and clarifying the use of funds, remember to maintain a normal rhythm of life. Ensure at least 45 minutes of exercise time each day and maintain a healthy social life. Even in a bull market, do not sacrifice health and quality of life for a potential 10% higher return.

Market Law

Rule 1: Avoid pursuing integer goals

Set non-integer wealth targets, as the market often experiences severe fluctuations near integer thresholds.

Rule 2: Stay Low Profile

Do not flaunt your wealth to others. If you must mention it, also downplay your holdings.

Rule 3: Be happy for others' success

Avoid feelings of jealousy and sincerely cheer for the success of others. A positive mindset often brings more opportunities.

Rule 4: Beware of self-inflation

When those who once questioned you start to agree with your viewpoint, it may be a signal to consider taking profits.

Following these principles helps to stay clear-headed during the turbulence of the crypto market and maximizes your profit potential.