Distractions Toll During the Bull Market
Nobody likes a bear market, right? Well, maybe except traders who prefer shorting, as many as they are in crypto that haven't been badly burned doing that.
But how about bull market? Everybody loves it, of course.
And everyone has some successful stories during the bull market.
In its latest stage, euphoria is omnipresent and many forget a simple rule in investing, to protect your profits. It happened to me, and I'm sure it happened to many others in the space.
But this is not what I want to talk about in this post.
There is another toll bull market often takes, and in the crypto space it's quite frequent.
Jumping from project to project in the hope to either remove the dead times coins have in their growth, or to move to a coin with a higher growth rate, or in the hope to find a hidden gem that will x1000 in the future is something many practice in the crypto world.
To some extent so do I, but when I catch myself going in too many directions, I now find the power to say stop. Something that I didn't practice much in the past, to my own detriment.
During the bull runs there will be plenty of distractions pulling you in their directions. And I don't mean scams. Legit opportunities are simply too many for one person to handle coherently.
So I believe focus is the key. It's always a decisive factor in our performance, but during periods with an increased amount of distractions and as decisions may become more emotional rather than logical, focus may prevent us from going in a spiral of mistakes, by avoiding to get involved with (too) many things at once.
That's what I'll keep doing, even if we have so many great opportunities in the crypto space. I'll focus! Maybe to a lesser extent in the Hive ecosystem, particularly Hive-Engine tokens.
But even there, every once in a while I clean up the tokens I believe I won't focus on. That might cost me and opportunity like the next LEO. :) Because I initially sold the tokens from the airdrop only to buy back more of them at a later date and a higher price, but luckily before exploding.
Anyway, I came to the conclusion that the best time to find hidden gems is not during the bull run, but during the bear market, when many are depressed, prices are way lower and spotlights are turned off. So, we should love the bear market too after all.
But do we do that? I'll try to follow my own advice in the future.
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