Courage Wins The Crypto Market

If you can overcome fear, opportunity abounds

From January to April, nobody could deny the opportunity to make fast money with crypto. Not only did the opportunity exist, we saw it play out.

Some shitcoins went up 70x or more. Some of my dead altcoins—relics from bad decisions I made over time—pumped triple digits. A few of them went higher than the price I bought them for.

The crypto casino was raging.

Now, the casino is closed. Prices have fallen. They seem to keep going down without end, only brief, occasional rallies.

The exact opposite of earlier this year, when they seemed to keep going up without end, only brief, occasional pullbacks.

Nobody can deny the risks of buying now. Bitcoin’s on-chain metrics haven’t yet shifted back to positive. Any breakdown below $29,000 will almost certainly send the entire market back to its fall 2020 levels.

Consider the opportunity

You know those people who bragged about their 3,000% gains earlier this year?

Most of them bought a long time ago, probably in a situation just like this one.

While you’re not likely to get a quick 200% gain from a massive altcoin pump any time soon, you can still get those 10, 20, 30x returns you’re dreaming about—as long as you have the courage to buy now and the patience to let the market come around.

Likewise, bitcoin may or may not double in price next month, but you can guarantee it will do far better than that over the next few years. It’s still realistic to expect its price will double by the end of this year. Even $100,000 is still on the table.

Can you say that about any other investment you can make at this moment?

Buy high now or you’ll buy higher later

This market can drop 80% from any price at any time. The same altcoin that boomed 20x over a few months can drop 95% a few months later. China can ban crypto at any time. Any country can ban crypto at any time.

Crypto savings platforms can fail at any time. DeFi protocols can get exploited at any time.

When prices go up, nobody cares. Twitter and YouTube algorithms only serve you that content when the market’s down and people are depressed.

You can wait for the FUD to pass and bitcoin’s price to go up long enough that it feels safe again. Just keep in mind, when you wait for prices to go up, you pay more for less upside—with the same amount of risk.

The risks don’t change. Only the price does.

Today, bitcoin’s potential upside is at more than 2x higher than it was in April. Some altcoins will easily surpass their previous all-time highs.

From today’s price, a $100,000 bitcoin brings nearly 200% return on your investment, compared to a 54% gain from buying at $65,000.

All you have to do is act now and wait for your rewards.

Zoom out before you zoom in

This market remains in a massive secular uptrend with strong tailwinds and infinite potential. Look at this chart:

Does that look like a bad investment?

Don’t wait to chase prices back up again. You might not catch them.

As odd as it must have felt to hear me talk down the market for the first four months of the year, when everybody said it has to go up, it must seem doubly odd to hear me talk about massive gains in the middle of a massive crash, when everybody says it has to go down and the overall trends have not yet shifted in our favor.

Such is the nature of the crypto market. On the way up, the opportunities get smaller and the risks get bigger. On the way down, the risks get smaller and the opportunities get bigger.

That may not seem true at this moment. Once you step outside the day-to-day news, it’s obvious.

When everybody said bitcoin isn’t risky anymore, nobody’s selling, and the supercycle will break all the data models—it felt easy to buy. What could go wrong?

Now, it feels hard. Scary. “What if the price goes down more?”

Good fortune favors those who have the courage to act when others don’t. When the circumstances demand making a seemingly risky decision knowing that the result will bring far more in return.

You bought bitcoin when it seemed like a sure thing. That didn’t work out.

Now you have a chance to buy when it seems like anything but a sure thing.

If you can set those feelings aside and act now, decisively, even if the price goes down further, you may never have to worry about those feelings again. Once this market turns around, you will wonder what you were ever worried about.

Be courageous.

Mark Helfman publishes the Crypto is Easy newsletter. He is also the author of three books and a top bitcoin writer on Medium and Hacker Noon. Learn more about him in his bio.

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