Crypto Assets bull run Survival Guide: Tips for Staying Rational and Profitable

We seem to be entering the later stages of the cycle, which means the market is starting to become exceptionally crazy. Some token prices have skyrocketed by dozens of times, and some people are starting to claim that holding Bitcoin is meaningless, while NFT valuations have also reached absurd levels.

For first-time or second-time investors experiencing this cycle, it is easy to lose control. Staring at price fluctuations all day and ignoring friends and family around you. This article will help you manage these emotions and protect part of your gains by avoiding excessive greed.

Mental Health Management in a Bull Run

reduce the frequency of checking prices

The simplest yet most effective approach is to set price alerts instead of frequently checking prices.

Many novice investors easily develop the habit of checking prices morning and evening. This behavior indicates that you have an ideal buying price and selling price in mind.

Once you understand this, you can save a lot of time every day. You won't check prices while exercising, nor will you check them upon waking up or before going to bed. Instead, you will have clear price targets.

Considering that we are at the beginning of a crazy period, most people may set buy alerts rather than sell alerts.

In short, set price alerts for your investments to avoid frequently checking prices and wasting time.

Focus on research and work

The vast majority of people will accumulate wealth through their own careers. Regardless of the industry you are in, the core principle remains the same: working hard to accumulate assets in your own career is always the top priority.

Even during a bear market, new tokens often see their prices skyrocket by several times or even dozens of times. If you find yourself frequently checking prices or scrolling through news on social media, every second that passes is costing you the value you worked hard to earn (or could have earned)!

On the contrary, set a fixed time to study new projects. You can focus on DeFi, NFTs, AI, or other areas, depending on personal strategy.

In summary, set aside dedicated time to study Crypto Assets so as not to overlook your primary source of income. When the market cools down, you will be one of the few investors able to buy at a discount.

Avoid discussing Crypto Assets with outsiders.

The Crypto Assets industry has been around for over a decade. The basics are already well known, but newcomers entering this field often lack fundamental knowledge. This can be beneficial for your investments, but it may affect your mental health.

Instead of trying to educate them, it's simpler to say: "I don't know much, I only hold a small amount of Bitcoin." This can save you a lot of time. Your position is that you only hold a small part of "the most well-known coin", and that's it.

It's no longer the time to persuade others. If someone hasn't participated in this cycle, they may have missed the best entry opportunity. This means you no longer have to explain the concept of "internet currency" to friends and family who don't understand the market. It might already be too late for them.

In short, avoid discussing Crypto Assets with outsiders. If they don’t even understand the most basic concepts, there’s no need to continue the conversation. You can test their knowledge level by asking them about their views on Crypto Assets. Once you hear obviously incorrect information, decisively end the conversation.

hold "low-risk" assets

One issue with a bull run is that your net worth can grow rapidly. When you reach or approach your "target number," you might ask yourself: "How should I invest this money?" This question can lead you to continue holding high-risk assets, which may ultimately result in losing life-changing gains in the short term.

If you don't have a clear plan, you may lose most of your gains. We advise most people to invest part of their funds into primary residences. Others may choose to invest in traditional financial markets. It specifically depends on the composition of your portfolio.

Just because some Crypto Assets have increased several times while traditional markets only rise about 10% each year, it doesn't mean you should invest all your funds into high-risk assets. If you do this, during the inevitable sharp corrections, you are likely to lose a significant portion of your gains.

In summary, clarify "what this money is for." If you are only looking to see your account balance increase, you are likely to fail in this bull run. Clearly define the specific use of the funds and your risk tolerance.

Do not neglect health and personal life

Many investors have made this mistake, but it's really not worth it. The basic measures listed above will actually help you a lot. If you set price alerts and clarified low-risk investment goals, you have already done better than most people.

In addition, we recommend spending at least 45 minutes exercising every day.

In addition, it is important to maintain a normal personal life. This varies from person to person. If you are a young person, it may mean going out socializing on the weekends. If you have a family, it means maintaining daily interactions with family members.

If you must choose between the two, you can appropriately reduce your workout time, but do not overdo it. Reducing from 5 days of exercise per week to 4 days is understandable. But if you reduce from 5 days to 2 days, you may regret it.

Summary

Everyone's situation is different. Whether it is 50,000 or 5 million that can change your life, the principle is the same. You need a basic system to prevent yourself from going crazy. The above advice may seem simple, but it can be difficult to execute.

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

Make sure not to overlook your main source of income and continue to develop your core business. Schedule fixed times to research new projects.

Remember that the only purpose of money is to improve life, and make sure you know what the specific plans are—house, car, or other goals. Don’t forget the actual meaning behind the account balance.

Do not sacrifice your health or personal life. It's okay to pay moderate attention to the market, but sacrificing your health for "possibly earning 10% more" is not worth it. It makes no sense, and you may pay a heavy price when the next bear market arrives.

Several Tips for Successful Investment

If you are experiencing a bull run for the first time, you are likely to continue holding when assets drop by 60-80%, and you may even incur losses (many people fail due to greed). If you are experiencing it for the second time, you may sell too early due to the psychological trauma from the last cycle.

Suggestion 1: Do not pursue integer goals

If you are young, is your goal 1 million? It is likely that you will reach around 876,000, and then the market suddenly experiences a significant correction.

If your goal is 5 million? You might reach 4.678923 million, and then suddenly experience a 70% drop. And so on.

The market seems to dislike round number targets, which is almost a manifestation of greedy psychology. It could suddenly shrink your wealth.

Suggestion 2: Stay low-key

If you want to increase your chances of acquiring long-term wealth, the goal is to not flaunt your assets to others. 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 brag about your success on social media because a certain coin has risen five times, we dare say you are likely to suffer heavy losses in a bear market.

Aside from public figures, most successful investors keep a low profile. Few people know the names of some top traders, which is one of the reasons for their success.

Suggestion 3: Be happy for the success of others

Most people are prone to jealousy. If you are right 95 times out of 100, they will keep emphasizing those 5 times you were wrong, without realizing that this precisely proves how high your accuracy rate is. If mistakes are rare, it indicates that they are not the norm.

If someone made 10 times on a project, be happy for them. NFTs making 2-3 times, the same goes. Jealousy or envy brings no benefit, it only affects your judgment.

Success often favors those who are positive and optimistic. If you are always jealous or resentful of others' success, your opportunities may slip away.

Suggestion 4: Beware of self-inflation

You may have mentioned Crypto Assets to the people around you, only to receive strange looks, and you have tried to explain it to them countless times. Even if some people have a slight understanding and hold a small amount, they may feel that you are too enthusiastic, as they have only casually bought a little and do not truly understand it (otherwise they might invest like you).

If your friends and family—those who once dismissed it—start saying "you were right," it may be time to consider taking profits.

The market often does not allow those who do not cherish opportunities to profit in the long term.