The market goes up and down daily. So if you keep track of the market daily, your heartbeat goes with the market 💓. The market volatility describes how risky the price goes. The higher volatility goes, the riskier it will have. Should you worry about volatility at all? Or should you have to check the market every day to see if it goes up 📈 or down 📉?
Here is the hint 🤫: you should not need to!
Crypto Addiction 🚬
Are you obsessing with cryptocurrencies? If you do, you may have a problem!
✔️ If your mood swings like the price chart
✔️ If your heart rate goes with the price chart
✔️ If your day depends on the price chart
You got a crypto addiction!
Well Being 🧘♂️
Many crypto investors have gambler syndrome.
✔️ If you try to beat the market
✔️ If you try to get rich quick
✔️ If you try to bet your money all-in
✔️ If you try to win your losses
✔️ If you are FOMO/FUD
✔️ If you heard little birdie tell you the best deal you should get into right now
You are gambling!
Mental health is more important than your profits.
You do not want to win one million dollars and spend it all for the later mental treatment process 😂.
Defensive Invest 🛡
My best experience investing in crypto is treating it as buying a lotto ticket.
There is no price chart for lotto, and it is pure gambling for fun.
The emphasis is fun but not gambling. You put away a fraction of the cost to exchange for a potentially huge gain, but such a fractional cost will not jeopardize your health and living standards.
The bottom line is that you do not want to trade off your mental health for cryptocurrencies.