The Main Shillers Of Skepticism: Why Does This Bear Market Seem Scarier?
One of the things that spread further FUD during the bear market is placing logic in front of sentimental loyalty. Let me be quick to say that most of the wealthy people in the world who are skeptical of crypto are always vocal during the bear market and this is because the dip tends to justify or affirm their stances about crypto.
Yhe funniest is that their opinion carries weight because they're giving it out when the loss in dollar value is testing the loyalty of people who have bought and believed in crypto over the years.
Make no mistake, people become gullible when they're experiencing the denial that comes with loss. About yesterday, Bill Gates came out to talk about why Crypto remains overrated again as the bear market reaffirms his sentiments. (This is a man whose wealth is questionable in so many ways).
The Billion Dollar Influence
Because of his status as a billionaire, people who are crypto believers might experience distaste because his stances are logical and it's difficult to reaffirm one's sentimental value on a sophisticated technology whose futuristic potentials are still in its zygote stages.
The bear market will always remain like this, this is because no one is a master in the act of experiencing loss. The bear market changes the economic and financial standings of people, rewiring their plans and having a devastating impact on their quality of life, this becomes an experience that hampers adoption to the fiddle-minded individual who's looking to adopt crypto for the gains.
The bull market is different, it comes with fake people, fake projects, and overrated products looking to take advantage.
The Impact Of Skepticism
One thing people fail to understand is that crypto isn't technically volatile, it's people who are. The change from a believer to a skeptic happens with just a noticeable reduction in dollar valuation. People who are selling FUD do so to validate their claims about crypto, making it easier for weak hands to see the reasons to sell.
No economy in the world doesn't experience a recession, so the reason why it is inevitable is because of the constant predictability of human actions. We're known to behave in a certain manner as a reaction to change and change tends to validate or prove us wrong.
While People like Bill Gates will forever be wrong about crypto, the only reason why people would consider their stances is that they're experiencing loss and they need something to desperately hold on to.
Watching Your Circle.
Some people are fond of changing their circle during the different market situations, creating a volatile personality among their members. Since 2017, I've kept my circle small especially because I have a circle of friends whose lives are undeniable proof that crypto is Indeed life-changing, being tethered to this gives one a reason to create a sustainable way to deal with the different crypto situations, minimizing or maximizing their impact in one's financial situation.
It's difficult to build with crypto if you're friends with people who think you should sell all your assets at the peak in exchange for money that you'll be spending daily.
What if you spend all that money and the entry point into crypto becomes too difficult? Many people have sold their assets at their peak. Only to underestimate the true meaning of financial freedom.
Looking At Economic Impacts
Skepticism and volatility are in the true nature of people, it translates and resonates in economic phenomenons like recession and inflation. It's proven in how people can say things about crypto during the bear market and cannot stand on these things during the bull market.
The world was formally designated in a way where small circles of billionaires are powerful enough to change the course of human history in their favor. Crypto is changing this and if this isn't impactful enough, I'll like to know the main contribution of people like Bill Gates is changing the lives of people for good rather than giving off money to charity for people to feed and clothe and keep them in that endless loop.
If you're into Crypto you should understand that our actions are liable to be questionable especially when we're experiencing loss, it depends on you to bridge that gap.
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It is a good time for the likes of Bill to bash crypto, I wonder what Warren Buffet is saying I expect him to be out giving Bitcoin a bash as well.
I like your way of keeping your circle of friends to like minded people, it is just not going to work hanging out with none crypto buddies, all you will keep hearing is when are you selling for profit.
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In this period, there will be so much bashing on crypto by these billionaires, I mean what they'll say is bound to test some people but then, it's a repetitive cycle and they'll never stop.
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Thoughtful post. I agree that ironically it is the volatility, and fickleness of people which causes the volatility of cryptocurrency. Even people invested in Bitcoin seem easily scared and stampede for the door, hoping to not be the person left in the room holding the bag. Yet they fail to see how the stampede accelerates the price drop. If they bought because they believed in the utility, community and value of the project I think they would be less quick to sell. If they understood the life changing opportunity before them, they would be less quick to surrend it with the first dip or downturn.
If you loved Leo at a dollar, you are cray about it at 6 cents. Same for Hive. If you thought it was marvelous at 3 dollars, you should be ecstatic at 50 cents.
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In sincerely people are motivated to buy at the top than to buy the dip because there's an extrinsic motivation to actually buy into an asset that's increasing. Nevertheless, crypto isn't real estate and we cannot equate Real-time Volatility with crypto. However, if people truly understands crypto they won't use their habitual selling to keep tanking the prices during the bear
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True the top seems more atractive.
Unfortunately you are right during the bear they see very little value, so they sell low.
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Crypto is not mainstream yet so we can expect a lot of people to attack it. It happens with every single industry as it grows and you can look at Tesla as an example. People reject change and they like to look at price because it's the thing that makes the most sense to them. This needs to change but I think it's the lack of financial education as the reason why this happens.
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This is deep, brother...
And it is in the bear market that this volatility is proven.
It is the perfect time to spread FUD because the fake people in the bull market times are now skeptical as they are not in it as true believers.
And watching your circle is very key is standing strong. Your circle has to be of people that share your motivations and can keep you strong.
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I'm skeptical too, but it doesn't move me to do anything rash. The bear market of 2018 lasted almost 2 years and it was the most definitive period of my life.
I can gladly say, it's how we relate with crypto that makes us overestimate the volailtily. I see the dip as a gathering period, I don't think I'll ever think otherwise.
Thanks for dropping by.
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I was saying something very related to this yesterday to someone. Those who could call anti-crypto would be mute during the bull market when crypto guys are smiling cos of their profits. It is always during the time of the reds that they lurk around. By the way, whatever Bill says, Warren Buffet will surely say a lot more..😃
I think I get this. Basically, it is human and our activities in any economy that causes the ups and downs.
For me, I believe anyone who always sells their assets at any slight chance of the peak is not a crypto trader but a gambler!
Hello there, thanks for the comment. I mean when you look around, you'll discover that the negetivity and antagonism is always rampant during the bear market. People like Bill Gates will never justify the wealth being created during the bull and this is because people justifies failure but can never paid success when they see one. It's a whole new crazy world
Technically if we adjust our lives appropriately, we'd understand that everything in our lives are volatile.
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