FUD is a type fear that is experienced (not exclusively) to Crypto traders, hodlers and investors, but generally to those who are invested (time/money) in almost anything especially instruments with high volatility. Most Crypto enthusiast users should have first-hand experience of what FUD means but if you have plan on venturing into the world of investment Crypto or no Crypto.
I say to you: FUD will come, just give it time.
FUD is a feeling that most of us share as crypto enthusiast, but knowledge is the only thing that keeps strong crypto enthusiast enthusiastically hodling and even buying more coins at a time when the market have been falling and falling like Olympus(Olympus has Fallen).
How do I react in such times?
What do I do with the news that is hard to ignore?
These and more we will find out in this article…
In my previous article we defined fear differently and how we can manage it, read full article here.
For this purpose we will define fear as the state of indecisiveness due to what the market and media is telling us. This indecisiveness stem from the fact that our expectations of the much awaited Bull run seem to be a Bear run and more and more people(week-hand) are bailing out of the market in an attempt to cut their losses.
Uncertainty is, not knowing what to do with your coin or fiat. Should I buy now? When John, Joy and Jeffrey are jumping out of the market. or should I sell my coin at -80% (had I known, I would have sold earlier this year when the price of coin were looking good). Uncertainty is the result of our greed about the market with our inability to create or stick to a created plan. We always want to be in profit, nobody wants to lose and yet nobody wins all the time. As a result we don’t plan for the bearish market, putting all our hope in one basket (the bullish basket).
The fact is all markets experiences three phases.
image edited by me
• The bullish phase (trending up)
• The bearish phase (side way)
• The ranging phase (trending down)
A wise investor plans for all three phases and prepare for any outcome.
Doubts are usually sold to us and we buy not knowing the price is damn expensive, if our foundation and knowledge in a particular project we invested in is weak. Thus we hodl with a weak-hand
Although sometimes we doubt comes from solid and objective sources, the credibility and objectivity becomes the change agent that changes doubt to an exit strategy. So doubt should no longer be called doubt but a sign to get out of a project and count your loses, or reduce your stake thier.
Doubt is spread by the crowd but cash is earned by a selected few.
FUD will always come, as we can’t shot the world out and the reactive feeling of what the market prints will always show up but what made you invest in the project is what counts. Cryptocurrency and Blockchain technology is here to stay as both technologies holds values that are yet to be properly harnessed. Yes the industry needs some tweak here and there but in the long run when governments and the masses realise how much this tech can save for them and how safe transactions can be carried out with speed, efficiency and accountability, they will have no other choice but to join the Blockchain space.
The question you should ask yourself is…
What is the long term view of the project you are about to invest in?
What utility does the project provide?
Where do you see the project in 5 years’ time and beyond and why?
The answers you get from the above question, will give you a long term view of what to expect with a high degree of accuracy, even though nothing is certain in live but with this, the odds should be in your favor.
Weak-hands are in for the short term price fluctuations but strong -hands are in for the long term and project development process, which is usually not smooth by the way. Finally strong-hands know that if a good project goals are met, price will most likely explode.
Happy Hodling Guys