The Flippening aka Leveling Up - Am I Getting Greedy in times of Extreme Fear?
"To Buy, or not to Buy, that is the Question."
- NakaWilliam Satoshispeare##### These days my greed is bigger than my fear and I don't mean that in a bad way ( I am not uncle Scrooge, far from that ).
I merely mean to point out that I am not affected much by the overall mood of the market any longer, after 4 years in the game.
In fact, seeing all the red / 'blood in the streets' / crypto bloodbath and hearing and reading all the FUD, I wish I had fiat to buy more crypto, as I see this as a great buying opportunity.
No financial advice, just my opinion
To get back to the picture above, the Fear and Greed Index is described as follows:
"Each day, we analyze emotions and sentiments from different sources and crunch them into one simple number: The Fear & Greed Index for Bitcoin and other large cryptocurrencies."
Apparently it was at 12, yesterday, I don't remember having seen it that low ever before. Although I should add that I don't check in on this site daily at all.
I scrolled down and checked the graph over the last 12 months to discover that it reached a low of 10, 4 days ago, and that that score was indeed the lowest number - the highest FEAR - in 12 months time.
In fact, clicking on the red "max" button, you will discover that this is the lowest score since March 2020 and I think we all know what happened back then:
The Covid Crash
Back to March 2020...
I remember being stuck in The Netherlands, having decided to travel there, the month before, to visit friends and family.
When the market ( and Bitcoin ) crashed to about 50% of its value over night, I wished I had money to buy in. Unfortunately, I had very little to spare at that moment in time. I was, like now, already all-in in crypto.
I seriously considered to borrow 5k from a rich friend or family member to buy a full Bitcoin ( and offer to pay it back with serious interest in the near future ) but, having borrowed enough in the past and feeling like I wanted to create my own riches, I decided otherwise.
I had no clue back then that BTC would go to 60k ( 15x ) about a year later, although it didn't surprise me either. Nor did I foresee it go back to 30k this month but, I knew it could happen.
To make a long story short, I have spent enough time on the crypto market to expect the unexpected. I also get better and better at being realistic and discerning FUD from actual news. Funny enough, you could say that most news is FUD, as goes for mainstream news ( outside of crypto ). The latter is more apparent than ever since March 2020.
It's mainly fear that is being 'spread'.
The Importance of Perspective
The main message I wanted to convey with this post - aside from bragging about my own ZEN levels these days - is that it's important to keep putting things into perspective, to zoom out and look at the long term, even more when FUD and especially fear start to take over ( The same thing goes for times of high Greed ).
If you see the news as the truth / literal journalism ( I seriously can't believe people still do this ), you will end up doing what most people do and that is exactly what the big players want you to do. They will win and keep growing exponentially, widening the gap with the 'small' people / ordinary (wo)man even more.
It's up to you whether you want to make this happen or not or whether you decide to see 'challenging' times as opportunities instead.
I would like to end this post by looking back at a previous post that I wrote around the fear and greed index, in February. Funny enough, we had extreme Greed back then at a staggering 95. It's interesting to give this another read.
Even more, knowing that back then, like today, BTC was also at 35k and Hive, for those who are heavily invested in this coin/ platform ( like I am ) was valued around 10 cents ( 40 to 45 cents today ).
Since that particular day in February, BTC has reached a high of around 65k and Hive has gone to over a dollar ( 10x ) and is now back at about 4x the value of February.
I know we can't compare these values, as 10 USD cents was almost the all time low of Hive and 35k was around BTC's all time high in February but still...
If... Then scenarios keep intriguing me.
Find the full post, Extreme Greed - To Invest or Not to Invest at an All Time High?HERE
For now, I advice you to stay ZEN, to keep breathing and remind yourself that life is just a game and crypto probably one of the biggest and most fun gam(bl)es of them all ;<)
Was signed,
SuperZEnsitivosaurus
( not )just another dinosaur on the blockchain.Find the crypto Fear and Greed Index that I used in my pictures HERE
I also kindly invite you to read my recent The Power of Crypto - How it has helped my twin sister and her family to change improve their life, where I describe how me maintaining a crypto portfolio for them in the last 4 years or so made a huge difference and is finally paying off. People seem to find it pretty inspiring.
SuperZENsitivosaurus: a leveled up version of Hypersensitivosaurus, the friendly velociraptor that I invented, and am writing about, since October 2019