Your mental health and the crypto bubble: How to stay 10 toes down
HODL! A term we’ve all heard since Bitcoin went to the moon. Still, it’s safe to say this crypto bubble has put our mental health on the back burner…
When it comes to mental stability, you must play the role of regulator. Ensuring strong brain health starts with routines and ends with consistency. You cannot operate on autopilot and expect to achieve optimal intellectual health.
We must always take inventory of ‘open tabs’ within our cranium and practice cognizance. Especially as we continue to live in this crypto bubble.
Being emotionally aware and building coping strategies with proactive rather than reactive methods can bring an individual to the place they need to be.
Being cognitively aware takes time and resilience
Awareness involves head-on-a-swivel type thinking in order to always spot out the next best course of action. In regards to cryptocurrency, giving it a few days and taking breaks will benefit the trader mightily.
A popular term within the Bitcoin community is ‘HODL.’ It stemmed from the word hold but it is an acronym that stands for Hold On For Dear Life.
That is exactly what you should do with any type of cryptocurrency – especially Bitcoin. Given the fact that Bitcoin has a finite amount of coins created, holding it causes its’ value to increase.
Your mental health playbook for crypto gains
Hold, hold, hold and only invest amounts that you can afford. This time around, the Bitcoin bubble has expanded farther than before and has generated greater staying power. The reason for this extended stay derives from the type of investors on board.
With greater amounts of institutional investments as opposed to retail investments, Bitcoin has greater potential. Not only that, but since it operates on the blockchain it has stronger purchasing power.
Here are five ways to ensure mental health and crypto stability in your everyday habits:
- Create a market cap for gains and losses to reduce impulsivity
- Build an order of operations and never break the routine
- Track your time on task in order to manage the hours you are online
- Do not mistake exchanges for wallets – ensure complete ownership of digital assets
- Be emotionally neutral – focus on methodology, trade framework and percentages
Know yourself and appoint your best mental health practices
It is extremely important to prioritize your rational mind over your emotional mind to maintain crypto mental health. Also, compartmentalization is a huge component when it comes to experiencing homeostasis.
At times, it is best to just make your trades and go on Do Not Disturb mode. Those who obsess over every trade, boom or bust are often the ones who burn out the fastest.
Once you plan out your moves, make them with confidence and check back later – the bitcoin board will still be there when you return.
Cleanse your crypto psyche by blocking out spaces within your day
Mental sustainability is key in this cryptocurrency game and you must create time for family and friends. Trading could quite possibly be a second side hustle for you. But, it should only consume a portion of your day as your loved ones deserve the majority of your downtime.
Ultimately, your mindset in this crypto bubble will control your approach. You should enter the crypto space with an open mind and think long-term with hefty investments.
That way, minor scrapes and bruises will roll off of your Teflon skin because you got your sights set on major players not just the apprentice.
With compartmentalization, diversification, purpose and anti-authoritarianism you have everything you might need to amplify your cryptocurrency presence. Jah Bless!