Tough Time to Invest in the Crypto Market
Introduction
The crypto market has dropped over 50% recently a couple of weeks ago! It is a tough time for everyone with the global pandemic crisis caused by the spread of the covid19 virus!
This impacted every market globally, and a lot of folks will lose their jobs because the whole economy is almost shut down. Governments impose mandatory closure of stores and a lot of services to slow down the spread of the disease.
We live in a time of uncertainty and during this period cash is king over traditional assets like crypto and gold.
What do people want?
In a period of uncertainty, people want to have access to cash. They want to buy the essential like:
- Soaps
- Toilet paper
- Pasta
In the first week, people rushed by, adrenaline and fear buying all they need in case of the worst. It is normal because people want to eat first instead to hold crypto or gold as an example.
I have the impression we live in a world like in the TV series of the Walking Dead; I exaggerate!
Positivism
Even if the economy is not doing well and nobody knows how long this thing will stay. One thing I know is nothing might remain for eternity.
A crisis is like a roller coaster or a chart that follows the price of an asset in real-time.
One day, the sunshine will come back as normal and life will slowly get as before the crisis.
In the meantime, I try to focus on the things I can control and this gives me peace in my mind. Otherwise, it will be hard to concentrate my energy and pay attention to what I need to get done.
It is an opportunity
The Covid19 virus provides an opportunity to develop new skills while you need to stay at home the most possible. Even if the crypto market is not in good shape and prices are low.
I keep going with my contents creation and put my faith toward this goal. I know is difficult when I take care of my crypto kid full time during the week.
My motivation and energy are not at the top. Without obstacles, you cannot reach your dreams, so I see it as an opportunity to grow.
If you follow the dark side and bring all the negativity in your way. How you will find an opportunity in front of view?
At the moment I started to learn Mandarin and Italian with audiobooks while I go outside with my crypto kid. Always take a step back and see what you can do to improve your situation.
Seek for other incomes
Even if is hard, I think outside of the box and seek other opportunities to generate more income. The crypto market is not an easy space right now and I need to dilute the risk toward new ventures.
I am in the process to build new skills and learn for that purpose.
One of the things is to invest and trade in the traditional markets. The volatility of crypto is not always our best friend.
Last word
The Covid19 has made the crypto market even harder despite two years in the ongoing bear market. I will not give up my dream to live full time from that space but is hard to keep to motivation high.
What is great at least, I am working toward new projects and hope this will help me generate a passive income? Time, patience, and perseverance is our best ally.
Other cool articles that you might find interesting to read:
- LBRY – the Decentralized Social Platform to Try
- Grow Your Base – A Crypto Reward Website to Discover
- Crypto FUD and Psychology of the Market
- Synthetix – a DeFi Project with Potential on the Ethereum Network
- Have a Good Attitude Mind in a Bear or Bull Crypto Market
Chesatochi.com–For the love of crypto and coffee.
PS: I am not a financial adviser, and this is only my opinion. Always do your own research before embracing investment in the crypto space.
Posted from my blog with SteemPress : https://chesatochi.com/tough-time-to-invest-in-the-crypto-market/
The world recession is also affecting the crypto global market