The market is crashing 📉

Yes the market has tumbled, why? A lot of reasons, but mainly greed which led to a lot of people, as well as large CEFI projects and VC’s leveraging huge amounts & then getting liquidated.

I am not a financial advisor so take this with a pinch of salt and DYOR, but I’ll share some of my thoughts on how to get through these challenging times.

Now what… 👀

The way I see it, there are a bunch of ways you can see this bear market. However I like to simplify it in order to stay sane and continue to work in the space, so I’ve simplified what I'm thinking into three separate viewpoints:

1) You were here for the ride, made easy money & now want out:

• Watch the news, constantly, 24/7
• Check your portfolio every 5 minutes
• Build up the fear inside of you
• Sell it all for a loss
• Tell everyone it’s a scam

2) If you don’t want to get involved but want to keep buying:

• The easiest way is to DCA (dollar cost average), set these up as direct debits, standing orders or set a reminder (calendar, phone or train your dog to recognise payday & remind you to buy more magic internet money)
• Get a hobby, to keep you occupied & distracted from the price volatility
• Delete crypto price apps, to keep you sane & mentally healthy
• Or… change the denominated currency to your chosen asset … ie. I buy mainly ETH so everything shows as the value in ETH, that way you’re focused on accumulating.
  • 1 ETH = 1 ETH
  • 1 BTC = 1 BTC

3) If you’re looking to stay involved in the space

• Do all of the above including:
• Get excited, now is the time that people who believe in the technology & values really show who they are
• Get ready for the “I told you so“ & “It was all a scam“ … There will be a lot of them, just smile & nod/wave.
• If you’re wanting to get involved in the space:
  • Join DAO’s, learn more, grow your network, use your skills to help other people, communities & projects
  • Contribute to open-source projects, get some more experience/exposure
  • Join a web3 company, people who follow the hype will drop off, meaning instead of being 1/1000 applicants you’ll be 1/100 applicants, so you have so much more chance to land the role that you’re after.
  • DCA, keep stacking those money legos

As for me, I’ll be doing the latter, DCA’ing into magic internet money, learning & getting involved in a few DAO’s.

See you on the other side 👋