Bull market survival guide: Keep your mind steady and keep your wealth

Translated by: Plain Language Blockchain

We are entering the late cycle (personal opinion), which means that things are starting to get really crazy. Tokens are starting to skyrocket 100 times, people are starting to say "holding BTC is meaningless", and NFTs are trading at ridiculous valuations.  

If this is your first or second time going through a cycle like this, you may be a little out of control. Staring at the screen all day, paying attention to friends and family (or even worse!). This article will help you manage those emotions and protect some of your gains by avoiding the "Mike Tyson-style punch" brought on by greed.  

01 Mental Health in a Bull Market

1-1 Avoid Frequent Price Checking

The simplest but time-saving tip is to set price alerts instead of constantly checking prices.
If this is your first time experiencing a bull market, you may develop a bad habit of checking prices as soon as you wake up in the morning and before you go to bed. This habit indicates that you have a price you are willing to buy at and a price you are willing to sell at.

Understanding this will save you at least 30 minutes a day. You won't check prices in between workouts at the gym, or when you wake up in the morning or before you go to bed. You will have clear price ranges to buy or sell.

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

In short, please set price alerts for your tokens, which will avoid frequent price checks and wasted time.

1-2 Research and Work

99.9999999% of people will accumulate all their wealth through their own business. Although we focus on WiFi (e-commerce) and other web-based businesses, the core principle remains the same: working hard to build equity in your own business is always the first priority.

There are new tokens skyrocketing 100-1000% every week. Even in 2022 and 2023, if you’re still paying attention to this space, you’ll see this. If you find yourself frequently checking prices or browsing memes on X,the value of your hard earned (or could have earned) is decreasing with every second that passes!

Instead, block out a specific time period to look for new projects. Your focus can be DeFi, NFTs, AI agents, or

In short, set aside dedicated time to research crypto so as not to neglect your cash flow machine. When the music stops, you’ll be one of the few who can buy in at a discount. 1-3 Avoid discussing cryptocurrencies with “normal people” This industry has been around for a decade. The basics have long been known, and the people entering the space now are of extremely low quality and don’t even know the basics. This is good for your investment, but bad for your mental health. Instead of trying to educate them, simply say: “I don’t know much, I just own a small amount of Bitcoin.” This will save you a lot of time. Your logic is: you only own a little bit of “the most famous coin”, that’s all. Now is not 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 establish a position. This means you don’t need to explain “computer money on the internet” to your Uncle Sal. It’s too late for them.

Avoid talking to the average person. If they don’t know the difference between centralized and decentralized, there’s no point in continuing the conversation. You can test their knowledge by saying “I don’t understand, tell me about cryptocurrencies.” Once you hear the wrong message, end the conversation decisively.

1-4 Hold “De-risked” Assets

The problem with a bull market is that your net worth will grow exponentially. When you reach or get close to your “target number,” you ask, “Where else can I invest this money?” This question will cause you to continue holding and ultimately lose out on life-changing gains on extremely valuable animal coins.

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

Just because MemeCoin is up 1000% and the S&P 500 is only up 10% per year, it doesn't mean you should hold 100%

In short, know "what the money is for". If you are just doing it to make the numbers on the screen bigger, you will most likely lose in this bull market. Know exactly what the money is for. 1-5 Don't neglect your health or personal life I admit to making this mistake many times, but it's really not worth it. The basic measures listed above will actually help you a lot. If you set up price alerts and clearly identify target assets to de-risk, you will do better than 95% of people (really). In addition, we recommend setting aside at least 45 minutes of exercise every day. On top of that, keep a normal personal life time. This varies from person to person. If you're in your 20s, it usually means going out on Thursday and Saturday nights. If you have a family, it means keeping a daily schedule with your kids/wife or other family members.

If you have to choose between the two, cut your workouts by about 25%, but not more. If you go from 5 days a week to 4 days, that’s fine and understandable. But if you go from 5 days to 2 days, you’ll regret it.

Summary

Everyone’s life situation is different. We don’t care if it’s $50,000 or $50 million that’s life-changing for you, the idea is the same. You need a basic system to keep yourself from going crazy. The above advice may seem simple, but it’s very difficult to execute.  

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

Make sure you keep a tight grip on your primary source of income and continue to build your WiFi business. Set aside specific time to research new projects/NFTs, etc. The only purpose of money is to improve your life, make sure you know what the plan is - a house, car, or other specific goal. Don't forget what the numbers on the screen mean. Don't ruin your health or personal life. You can indulge in the bull market frenzy a little, but it's not worth sacrificing your health for "maybe an extra 10% return". It's pointless and you will pay a heavy price when the next bear market comes (we don't plan to go down with the bear market).

02 The Rule of Lady Luck

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

Rule 1: Don't go for round numbers

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

If your goal is $5 million? You might get to $4,678,923, and then suddenly there is a -70% crash. And so on.

Goddess Luck doesn't like round numbers, it's almost a psychological manifestation of greed. She will take your wealth away immediately.

Rule 2: Never Tell Anyone About Your Wealth

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

If you yell “I told you so!!!” on TikTok because some coin went up 5x, we’re pretty sure you’ll lose everything and more in a bear market.

Except for celebrities or professional athletes, Lady Luck only bestows great wealth on those who keep a low profile. Who is Aron Landy? Yes, most people would have to look that name up.

Rule 3: Be happy for anyone who succeeds

Most people are jealous. If you are right 95 times out of 100, they will constantly emphasize the 5 times you were wrong, not realizing that this is just proof of how often you are right. If mistakes are rare, it means they are not the norm.

If someone is

Goddess Luck always rewards winners. If you don't need something, you will get more of it. If you are always jealous or resentful of others, your luck will likely shift to them.

Rule 4: Sell When Ego Gets Inflated

You may have mentioned cryptocurrencies to several people and received strange looks, even though you have tried to explain it to them countless times. Even if some people understand a little bit and hold a small amount (like 2 BTC), they may think you are crazy because they bought some as a joke and don’t really understand (otherwise they would be as crazy as you).

If your parents and friends - the ones who used to laugh at you - start saying “you are right”, it’s time to sell.

Goddess Luck will not reward those who don’t respect money.