Pessimism - The best drug for a bull run
It’s better to be a pessimist in a bull market, everything is up in a bull market, both shitcoins and worthy projects, if one is not careful, it will be very easy to hop on to shit coins and get dumped on, over time, I’ve realized that every time I hop on to tokens because they are doing high numbers, I end up buying the highs and getting dumped on, this won’t be happening again henceforth.
I try to be very careful when it comes to where I put my money, I’ve not gotten to that stage where I can take blind risks and loose it all if it comes to it, I prefer to be convicted in the project I’m invested in, then if I loose it, so be it. Most people that read my post know I’m a natural bull, it comes with my conviction for the projects, whether we are in a bull or bear market doesn’t matter to me.
It is better to save the optimism for the bearish period where most projects are struggling to survive, this way it is easier to spot and pick up gems early. Bear markets present the best investing time of both cycles. Projects that make the most noise during the bulls are mostly empty barrels and when it’s not, then the early investors will be the ones to enjoy the runs the most.
If a project appears out of nowhere during a bull market and starts gaining a lot of traction by running up in price, there are more chances that it won’t sustain the run, this is where being pessimistic pays off, by being pessimistic, even if you want to invest in that project, you’ll be very prudent about it, by taking very minimal risks.
If the project then turns out to be able to sustain its run, then your minimal risk will pay off. If not, then the loss will perhaps be more bearable. Optimism works better during bear markets because it is highly needed to fire up ones conviction in the face of many doubts and daunting bearish market movements.
This is how I prefer to operate and I’ll like to believe it’s been working for me. Certainly there are those times when stuffs hits the fan and blows out of the sky and I miss some nice pumps even when all signs were right under my nose, I don’t take it to heart though, at least not anymore, there’ll always be another pump to chase.
Edit* Being optimistic during bull runs works for some people, they get lucky, get in and out unscathed. However the worst one is being pessimistic when one should be optimistic especially during the bear.
This is what I’ve observed over time.
Do you prefer to be optimistic during bulls? Bears? Or both cycles?
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