BTC steadily climbs to 107k. Today, 5.21 chain internal reference cloud, 《High Altitude Work》. Here, it has quietly approached the high point of 109.8k at the beginning of the year, about to enter an area with no trapped chips. 110,000 dollars, an integer point that bulls are determined to conquer.
Once breakthrough, BTC will once again create the "myth" it has created multiple times in the past 16 years: before this, all who bought and held until now have not suffered any losses.
Zero loss means there is only one kind of loss, called self-abandonment. Cutting losses, leaving the market, admitting defeat.
There are always people who will face the most difficult philosophical question in life at this moment: should I cut losses?
Not about cutting losses on BTC, but cutting losses on altcoins. Cutting losses and chasing BTC.
Cutting losses on altcoins, switching to BTC, this is switching positions.
Switching positions is like jumping between trains. Leaping from a high-speed train's window, accurately jumping into another high-speed train on the adjacent track.
Most likely ending in being crushed to pieces.
Switching positions is just a self-deceiving reason for cutting losses and admitting defeat.
Think about it, you invested in A and failed, got trapped, with serious floating losses, and in desperation, cut losses and switch to B, and you'll succeed? That's a joke!
Since you failed investing in A, switching to B will likely fail as well.
Failure is not the mother of success. Failure is failure's father. Moving from one failure often leads to the next failure, and continuing, still failure. This is the failure gene being passed down, forming a failure chain.
What you should do is not immediately attempt to turn the tide and reverse failure to success, but to break the failure chain.
Facing a failed investment, the correct approach is not switching positions, not cutting losses, but writing off.
Writing off means deleting this investment from your position accounting spreadsheet, reducing its value to 0 from a financial perspective. No longer tracking its price fluctuations, and no longer including it in the portfolio.
However, unlike cutting losses, writing off is just zeroing on the books, without selling chips.
Acknowledging failure is reconciling with oneself.
First allow yourself to fail, then open space for self-growth.
Psychologically zero it out, feel that pain, thereby recognizing that from the beginning of establishing an investment plan, you should consider the maximum investment limit and use the ability to accept zeroing as the calculation standard.
Beyond this limit, you will feel pain beyond your tolerance when acknowledging failure, thereby activating the brain's self-protection mechanism, inducing yourself to refuse acknowledging failure. In psychology, this is called cognitive dissonance.
Once trapped in cognitive dissonance, you will no longer learn any lessons from failure. Thus repeatedly falling into the same failures, falling into a cycle of continuous repetition, continuous failure, continuous repeated failure, falling into the failure chain.
For example, say you're preparing to build a position in ETH. You might have $50,000 in principal. But this is not necessarily the funds you should invest. From the beginning, seriously ask yourself, "If ETH goes to zero, $50,000 goes to zero, can I accept it?" Exclude distractions, seriously imagine losing $50,000, repeatedly ask yourself, "Can I accept it?" Don't deceive yourself, but honestly answer, "Can I accept it?" If the answer is "no", then you should reduce the investment limit. $40,000, $30,000, $20,000, $10,000, $5,000... until you get an affirmative answer, truly able to accept being completely zeroed out, losing all principal. This is the maximum investable funds.
You absolutely cannot blindly exclude the possibility of ETH going to zero. Speculation based on such blind optimism is absolutely sloppy and wrong.
Why write off on the books instead of cutting losses and selling?
You might think, by cutting losses and selling, I can recover some funds. Although it may have dropped 90%, 10% of funds is still funds.
Once done, the funds from cutting losses will inherit the entire failure chain's information and continue to infect the investment, causing the infected investment to continue failing.
So, to cut the failure chain, perform a book write-off, psychologically cut off, without cutting losses on chips, financially cut off. Only by cutting both chains can you truly and completely cut off.
New investments use new funds. Or funds from victorious exits.
Only then do you have a chance for a completely new life. Or to move from one victory to the next.
