Survival Guide for Bull Market: Stabilize your mentality and keep your wealth

Written by: BowTied Bull

Compilation: Vernacular Blockchain

We are entering the late stage of the cycle (personal opinion), which means things are starting to get really crazy. The tokens began to soar 100 times, people began to say that "holding BTC is meaningless", and the NFTs traded at a ridiculous valuation.

If you're going through such a cycle for the first time or the second time, you may be a little out of control. Staring at the screen all day, focusing on friends and family (and even worse!). This article will help you manage these emotions and protect some of the gains by avoiding the "Mike Tyson-style punch" brought by greed.

Mental health in a bull market

Avoid frequent price checks

The simplest thing that can save a lot of time is: set price reminders instead of constantly checking prices.

If you are experiencing a bull market for the first time, you may develop the bad habit of checking prices when you wake up in the morning and checking prices before going to bed. This habit shows that you have a price you are willing to buy and a price you are willing to sell.

Understand this and you can save at least 30 minutes a day. You won’t check prices between exercises in the gym, nor do you just wake up in the morning or before going to bed. You will have a clear buy or sell price range.

Since this is the beginning of a crazy period, we guess most people will set buy reminders instead of sell reminders.

Anyway, please set a price reminder for your tokens, which will avoid frequent price checks and waste time.

Research and work

99.99999999% of people will accumulate all their wealth through their careers. While we focus on WiFi (e-commerce) and other network-based businesses, the core principle remains the same: striving to build equity in your own business is always the first priority.

Every week, new tokens soar 100-1000%. Even in 2022 and 2023, if you are still focusing on this area, you will see this. If you find yourself checking prices frequently or browsing Memes on X, every second passes, the value you earned (or could have earned) is decreasing!

Instead, draw a specific time period to find new projects. Your focus can be DeFi, NFT, AI proxy or Meme, we don't care. Everyone has different strategies (we will focus on DeFi, NFT, and probably RWA, if Blackstone starts to promote this narrative vigorously).

In short, set special time to research cryptocurrencies to avoid ignoring your cash flow machine. When the music stops, you will be one of the few people who can buy at a discounted price.

Avoid discussing cryptocurrencies with "ordinary people"

This industry has been around for ten years. Basic knowledge has long been known, but now people entering this field are of extremely low quality and do not even understand the most basic knowledge. This is good for your investment, but it is bad for your mental health.

Rather than trying to educate them, simply say, "I don't know much, I just hold a small amount of Bitcoin." This will save you a lot of time. Your logic is: you only hold a little bit of the "most famous coin", that's it.

Now is no longer the time to convince others. If someone doesn't make a fortune in this cycle, the floor price will be too high for them and they will never be able to build positions. This means you don't have to explain "computer currency on the Internet" to your uncle Sal. It's too late for them.

In short, avoid communicating with ordinary people. If they don’t even know the difference between centralization and decentralization, there is no need to continue talking. You can test their knowledge level by saying, "I don't know much, tell me about cryptocurrencies." Once you hear the error message, end the conversation decisively.

Holding "risk-removing" assets

The problem with a bull market is that your net worth will grow exponentially. When you reach or approach your "target number", you will ask: "Where can I invest this money?" This question will cause you to continue holding and may eventually lose life-changing benefits in extremely valuable animal coins.

If you don't have a plan, you'll lose everything. We recommend that most people put their funds into their primary residence. Others may choose to invest in stocks. It depends on the composition of your portfolio.

Just because the Meme coin has risen by 1000%, while the S&P 500 only rises by 10% every year does not mean that you should hold the Meme coin 100%. If you do this, you will most likely lose everything in the Meme Coin’s inevitable -99.99% crash.

In short, make it clear "what is this money used for." If you just want to make the numbers on the screen bigger, you will likely fail in this bull market. Clarify the specific purpose of the funds.

Don 't ignore health or personal life

I admit that I have made this mistake many times, but it is really not worth it. The basic measures listed above will actually help you a lot. If you set a price reminder and explicitly target assets to risk, you will do better than 95% of people (really).

Additionally, we recommend that you set aside at least 45 minutes of exercise every day.

In addition, you must maintain a normal personal life time. This varies from person to person. If you are in your 20s, it usually means going out on Thursday and Saturday nights. If you have a family, it means keeping routines with your children/wife or other family members.

If you have to choose between the two, you can reduce your exercise time by about 25%, but not more. If you reduce from 5 days of fitness per week to 4 days, it’s not a big problem, understandable. But if it is reduced from 5 days to 2 days, you will regret it.

Summarize

Everyone's life is different. We don't care whether it's $50,000 or $50 million to you, the truth is the same. You need a basic system to prevent yourself from falling into madness. The above suggestions seem simple, but they are very difficult to implement.

Set specific price reminders for the assets you want to buy or sell.

Make sure your hands hold your primary revenue stream and continue to build your WiFi business. Set aside a specific time to study new projects/NFTs, etc.

The sole purpose of money is to improve your life and make sure you know what the plan is—a house, a car or other specific goals. Don't forget the meaning of numbers on the screen.

Don't ruin your health or personal life. You can be a little addicted to the bull market fanatic, but sacrificing health for "maybe earn 10% more" is not worth it. It's meaningless, you'll pay a heavy price when the next bear market comes (we don't plan to accompany the decline in the bear market).

The rules of the goddess of luck

If you are experiencing a bull market for the first time, you will likely continue to hold on when you fall 60-80%, and may even lose money (many people fail because of greed). If you are experiencing it for the second time, you may sell too early because of the trauma of the previous cycle (PTSD).

Rule 1: Don 't pursue integers

If you are young, your goal is $1 million? Guess what happens, you might hit $876,000 or close to that figure, and then the market suddenly pulls back sharply.

What if your goal is $5 million? You could hit $4.678923 million and then suddenly a -70% crash. And so on.

The goddess of luck does not like integers, which is almost a psychological manifestation of greed. She will take away your wealth immediately.

Rule 2: Never tell others about your wealth

If you want to increase your chances of gaining generational wealth, the goal is to tell everyone that you are poor and have nothing. If you have 10 BTC, you only have 1. If you have 10,000 ETH, you have 100. And so on.

If you yell on TikTok, "I told you a long time ago!!!" Because a certain token has risen 5 times, we are sure you will lose everything in a bear market, and even more.

Apart from celebrities or professional athletes, the goddess of luck will only give a lot of money to those who keep a low profile. Who is Aron Landy? Yes, most people have to check this name.

Rule 3: Be happy for anyone who succeeds

The vast majority of people are jealous. If you get 95 times right 100 times, they keep highlighting the 5 times you are wrong, but don't realize that this proves how high your correctness is. If errors are rare, it means it is not the norm.

If someone makes 10 times on Meme coins, cheer for them. NFT made 2-3 times, the same is true. Jealousy or envy is not any benefit, it will only reduce your lucky value.

The goddess of luck always rewards the winner. If you don't need something, you'll get more. If you are always jealous or hate others, your luck will most likely be transferred to them.

Rule 4: Sell when self-inflation

You may have mentioned cryptocurrencies to several people, but you get a strange look, and you have tried to explain them countless times. Even if some people understand a little and hold a small amount (like 2 BTC), they may think you are crazy because they are just joking to buy a little and don't really understand (otherwise they will be crazy like you).

If your parents and friends—the people who once laughed at you—start saying “You’re right,” it’s time to sell.

The goddess of luck will not give back to those who disrespect money.