Manage bull run sentiment, avoid greed traps

As the cryptocurrency market enters the later stages of the cycle, we are witnessing some crazy phenomena. Token prices are skyrocketing, NFT valuations are soaring, and some even claim that Bitcoin is meaningless. For investors experiencing this cycle for the first or second time, it is easy to lose rationality. This article will explore how to manage emotions at this stage and avoid losses due to greed.

Maintaining Mental Health

Reduce the frequency of checking prices ###

Setting price alerts is a simple yet effective method. This helps avoid the habit of frequently checking prices, saving a lot of time. Clearly define your buying and selling price ranges, and do not overly focus on market fluctuations in your daily life.

Focus on research and work

The wealth of the vast majority of people comes from their own careers. Even in the field of cryptocurrency, it is essential to prioritize the development of your main business. Set aside fixed time to research new projects, but do not let market fluctuations affect your daily work and cash flow.

Cautiously discuss cryptocurrency

Discussing cryptocurrency with people who do not understand the industry can affect your mental health. If the other party does not even understand the basic concepts, it is best to avoid in-depth communication. You can simply state that you only hold a small amount of Bitcoin, without needing to explain too much.

formulate "de-risking" strategy

As assets appreciate, consider investing some of the gains in more stable assets, such as real estate or stocks. Clearly define the purpose of the funds to avoid losing all gains on high-risk assets due to greed.

Maintain a healthy lifestyle

Do not neglect personal health and life. Maintain a habit of at least 45 minutes of exercise every day and keep a normal social life. It is understandable to moderately reduce exercise time, but do not completely give up a healthy lifestyle.

Rules of the Goddess of Luck

Avoid pursuing integer targets

Do not set integer targets such as 1 million or 5 million. The market often experiences significant pullbacks when approaching these numbers.

Keep a low profile

Do not flaunt your wealth to others. Even if you hold a large amount of assets, maintain a humble attitude outwardly. Overexposure may lead to greater losses during a bear market.

is happy for others' success

Don't be jealous of others' success. Whether it's making profits from Meme coins or NFTs, you should be happy for them. A positive attitude is more likely to attract good fortune.

Beware of self-inflation

When those who once doubted you begin to agree with your views, it might be time to consider taking profits. Overconfidence is often a signal of a market top.

Remember these tips, as they help maintain rationality during a bull run and avoid losing hard-earned profits due to greed. Everyone's specific situation is different, but the core principles are the same: stay calm, make a plan, and don't let short-term fluctuations affect your judgment.