I want to share some personal lessons and observations I learned from the last bull run.
Constantly checking the value of your portfolio and assets
You waste time and direct your energy in the wrong direction, and you increase the likelihood of taking unnecessary actions, acting on emotions, and misjudging time periods.
Unnecessary actions
Even the most insignificant action can lead to an unexpected and significantly unpleasant result. I try not to move money unnecessarily, not to lock my wallet, etc.
Misjudging time periods
“Mass adoption is near, meta-universes are a big trend, US power has declined”. These trends do exist, but they are gradual and long processes. Of course the dollar is losing power, but it won’t fall tomorrow. Of course adoption will happen, but not likely in this cycle. Sure, we’re moving into meta, but it’s going to take a long time to develop. Just because your focus is on these things doesn’t mean their movement is accelerating.
Buying/selling on emotion
Am I trading on emotion right now? If the answer to this question is yes, then I try not to commit to the action. It’s also especially easy to fall into a scam in a rush of emotion.
I throw myself at everything
I try to fill out every interest form, go to every discord, be active in every project. My goal now is to make conscious and selective hits based on my general understanding of the market/systems, intuition, experience.
Wrong infofields
Clearly define where you get your information from, the best is from primary sources. It’s one thing to be a neutral information seeker, it’s another to get involved in useless discussions and sit in the same fields with emotionally immature people. People spread mania, fear, fomo, toxicity. You are also wasting your resources.
Abuse of coffee and other stimulants
This leads to increased over-ideas, fixation, and intensifies emotional swings. You begin to see more “signs. Inner chaos is amplified by the chaos of the market, which is completely detached from reality.
Be cautious at the beginning of the bull market and break up at the end
At the beginning it was scary to throw large sums. At the same time you can’t be radical, you can’t risk everything, you have to devirsify, fix profits.
Superfluous information
L1 blockchains are the first thing I learned in 2020 when I came to crypto. It was the category that was the winner of the last wave. It was possible not to dig any further. A lot of information was very often detrimental to decision making, because you are not a quantum computer to take into account all factors and calculate all scenarios. I believe that understanding the general principles of how systems work is enough to make a decision.
Trying to follow every news story
In the mania phase, everyone starts to follow the news, shouting that we are up/down today because there is such and such news. The market is a very complex system with many factors and players.
Thinking you are the smartest
On the one hand, it is important not to catch a star, not to close yourself to new things, not to ignore other people’s ideas and suggestions. On the other hand, it is important to cut off unnecessary things. What survives is usually what was created before the bull run.
Thinking it will always be like that
All systems, be they economic, social, biological, etc., work on common principles. A period of mania will inevitably be replaced by depression and vice versa. Remember this in spite of all the noise and emotions you encounter. Everything will try to confuse you.
