Crypto-Drama. What stage are you in now?

Denial and Anger

The new world of decentralization with all these unicorns, pancakes, bunnies, kittens, spiced up with Metaverse fiction fascinate more and more heads. Everything in there seems so fresh and promising, geeky, and fashionable at the same time.

From the other pragmatic side, whole this digital future is covered by the success of Bitcoin and mass adoption of blockchain technology by such giants, like IBM, Microsoft, Google, VISA, Walmart, HSBS, Samsung, Honeywell, etc., and grab even more attention from society.

Therefore, the decision to get involved in this crypto-world nowadays is often influenced by FOMO (fear of missing out). Psychologically people don’t want to be left aside, they already passed the stage of crypto Denial, and now trying to catch up with the high-speed crypto train. 

BUT. The majority of new crypto investors still don’t understand what they are buying, how it works (even if they think they do), and what to do next. Obviously most of them – fail, especially if they invested or got involved in scam projects.
What happens next? They land on the stage of Anger

Innovation brings benefits to society, but it also becomes very attractive to scammers and those who just want to quickly cut the dough by releasing low-quality products to the market, without any value. So, you should be very careful choosing where to invest, or what to use.

Latest news: “Popular decentralized finance platform Wonderland is staggered after the identity of a top executive was revealed. He was a co-founder of the failed crypto exchange QuadrigaCX and was involved in money scams, fraud, and burglary.”

Bargaining. “Just HODL”

But the main crypto drama begins when bitcoin falls and drags down most cryptocurrencies and projects. Freshly Baked investors begin to worry, blaming all blockchain-related projects as fraud.

The most persistent persons are still trying somehow to save their investments, re-investing in other projects, selling the rest of their assets to save at least something, or training their endurance with the popular crypto mantra “just HODL”. These guys landed on a stage named: Bargaining. 

Depression and Acceptance

If you are not new to crypto, probably you already passed all these 5 psychological stages of denial, anger, bargaining, depression, and acceptance. 
And when you were on the Depression stage you probably asked yourself: “Why did I mine the wrong coins, which cost nothing?”, “Why did I sell everything so early?”, “Why didn’t I buy Bitcoin when it cost 50$? ”, “Why did I buy those shitty tokens?”, “How did I miss the Dogecoin? ” etc. etc.
After years of regrets and multiple tries, you start to react much more calmly and put yourself on the stage of Acceptance.

Now, as a Crypto Jedi Master a.k.a. Yoda, you quietly observe how new padawans are hustling around. 

Check out some great Yoda Life Teachings, which also apply to Crypto.

A bit of a history

You also might remember all the noise about Bitcoin and Altcoins in 2013-14, then about ICOs 2017-2018 (smart contracts), and now about NFTs 2021- 2022.

Every time the same story, all over again. 

A similar pattern, agree?

Here is what the creator of Litecoin, Charlie Lee says:  NFTs are like ICOs in 2017 and Altcoins in 2013 – Litecoin Creator. People who have already gone through all these stages and accepted the whole crypto situation with calm and some regrets, still know that this fight is not over. Regret stories: Cryptocurrency regret

Stay tuned and Pay attention

Therefore, before investing your time and money in new projects, you must commit a significant amount of time for your research and investigation or have a trusted source who will provide you with the proper information. Otherwise, there is a very high chance lose your investments. 

For example, right after bitcoin become popular there were made more than 10,000 altcoins (most of them just bitcoin copies).

And how many are left now (proper ones)? Just a few. Same thing with ICOs, Defi, NFTs, etc. Think about it before investing. Of course, if you decide just to gamble on your luck and invest randomly, it’s your way. There are still many people who get involved in crypto just to make quick money, without any expertise or analysis. They feed the scam projects by themself and then blame the whole industry. This is human nature.

Blockchain future

So what to expect? You might remember a dot-com bubble in the late 1990s. And as you see, most of those websites are dead, but the technology actually stays with us. Same with the blockchain. There will be plenty of interesting products, as well as many frauds. The industry will grow, will change, improve and someday become “old” and die, when the other more advanced technologies will appear. Keep your finger on the pulse!

Be honest

Take a moment and be honest with yourself. At which stage on the crypto journey are you now?

Why are you angry or happy? Maybe you regret something? How do all these blockchain things reflect on your daily life? Such moments of calm and honesty with yourself often help to understand what to do next, and which way to move. Also if you do have a story to share – drop us a message.

* DISCLAIMER: All the information is provided merely for informational purposes and does not provide any investment advice.

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