As much as we like to think of ourselves as completely rational beings…we aren’t.
Our bodies and minds are flooded with hormones, emotions, and irrational thinking.
A lot of this is evolutionary. Making the wrong move 200,000 years ago and there were predators out there trying to eat us! Thus the emotional cocktails that are generated today served to save us in days gone by.
Today those predators aren’t a threat, but we still have software running us that makes us feel incredibly intense fear at times - and in the investing arena that fear all revolves around “losing money”.
These fears rear their ugly head at the worst moments, when prices are crashing and we see media headlines screaming “Crypto Bloodbath!”
These are the worst times to sell…we have to be independent and not follow the herd in times of panic.
A Bear Market or Two in Bitcoin - Your Best Teacher
If you held a good amount of Bitcoin prior to 2022, just went through the bear, and still hold the same amount (or more) then you are on your way.
Bitcoin bears are brutal, but they serve an important purpose, coin distribution. If Bitcoin went up surely and slowly all the time, hoarding of the coins would mean a small number of people would have all the Bitcoin, and it basically wouldn’t work as the world currency that is is destined to become.
Bear markets shake coins out of the hands of those who were too greedy, too leveraged, or who let fear dominate their thinking.
When someone holds a good amount of Bitcoin but use fiat measurements as their reason to hold, they are far more inclined to sell it off in a moment of fear in order to lock-in some of those profits, or avoid losses if they bought higher.
But individual who are truly here for the monetary revolution, to end Central Banking, and to bootstrap Bitcoin to world reserve currency status remain.
Resolving to HODL Through Thick and Thin
So how does one resolve to be a patient investor in Bitcoin?
Education and mindset come first. You have to put in the time, investing in yourself with at least 100, but preferably 1,000 hours of studying Bitcoin.
Fortunately, this can be a really fun journey! So many great articles, podcasts and books are now out there, giving anyone a free education on money - how it works, what is means for us as humans, and why the current system is failing so many people.
Once you see the problem, you get to be part of the solution!
This is extremely gratifying - as you find out you and your fellow humans are all coming together in a grass roots effort to actually do something about this mess! No need to just sit around and live with the problems caused by so many evil politicians and bankers.
The solution is to buy bitcoin, hold it, and wait.
HODLers become the backstop when things get wild out there. You can be sure millions of Bitcoiners were BUYING during the last bear as Bitcoin scraped along the $15,000 mark - thankful that they could buy at bargain basement prices.
But they could only have the confidence to come in and buy at those levels by doing the hard work previously to understand the asset fully.
How to Build Your Stack Over Decades- And WIN!
As the monetization process for Bitcoin continues, many still doubt its long term viability as both a currency and store of value.
This is only natural. The brainwashing of every human from birth into the fiat system makes the outliers a little weird - but weird is good!
It’s only those that think outside the box who push the rest of humanity toward new and innovative solutions! Nothing would ever get done without the innovators - the Henry Fords, the Steve Jobs, the Satoshi Nakamoto’s of this world.
Today we can all be progressive and proactive in that we decide to buy and hold Bitcoin together, outside of the legacy financial system.
A parallel system designed to store value without the monumental risks that keep emerging from the debt laded system promoted by irresponsible governments around the world.
Bitcoin is literal financial lifeboat.
By getting in, stacking Sats regularly, and supporting the Bitcoin network in any way you can, you’re helping both yourself and your fellowman for many decades to come.