PSA: You're currently accustomed to a bear market and you WILL try to sell too early

Imagine you're an astronaut going into space for the first time. You've studied for many years and know to expect zero-gravity. Perhaps you've even trained on simulators and gotten an estimation of how it might feel.

First-time astronauts invariably have the same feedback:

"Nothing could've prepared me for space. There's absolutely nothing like it."

Embarking on your first bull run is much like going into space.

You may have read about it, done some paper trading, maybe even simulated going through 2016-2017, but nothing can prepare you for the gut-wrenching, schizophrenic ride of ecstasy of having real money on the line.

Your intuition will fail you. You've grown all your life in regular gravity and have developed visual-spatial senses that work well on Earth.

When you throw an orange, you expect it to fall. When you see Bitcoin go up 15%, you expect it to flag then come back down to support.

What's most insidious is that your instincts you've developed run subconsciously directing you to make mistakes. Much like an astronaut spends a day getting acclimated to space, give yourself time and patience to get used to the new normal.

You will sell too early, thinking that on Earth, oranges don't normally travel that far. I'm here to tell you when you're going to the moon, oranges keep on going, much further than you'd expect.

The reason why veterans tell you to hodl is because it's the most effective advice helping you learn that you are weightless in space. Once Bitcoin goes on a run, the fatal mistake is pulling the ripcord too quickly. This causes you to get stuck in fiat watching day after day of losing value denominated in BTC. This is the primary cause for people fomo'ing back in higher only to get rekt when Bitcoin comes down from its local top.

If you're hodling Bitcoin, no one can tell you to get off the rocket ship. Ride it all the way to the moon with us. 10M by 2030 is my best estimation.

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This is all meant to be for entertainment and doesn't constitute financial advice.

Submitted August 13, 2020 at 12:33PM by uncapslock https://bit.ly/3alF7JB