Market Psychology

"Through not observing what is in the mind of another a man has seldom been seen to be unhappy; but those who do not observe the movements of their own minds must of necessity be unhappy." -Marcus Aurelius

If you're in this space, you may be interested and/or invested in cryptocurrencies. It's amazing how so many of the lessons from great minds of the past are still relevant today. While Marcus Aurelius wasn't specifically referring to the crypto market, we can learn a lesson from the quote above.

The popular acronym "FOMO" or fear of missing out has everything to do with jumping on the bandwagon. In the little time I've been invested in cryptocurrencies, I've seen this happen a lot when prices are green. In the moment we "jump on the bandwagon" we are in essence "observing what is in the mind of another." Be mindful of this feeling and reject it.

Many of the best investors preach to "DYOR" or do your own research. This is so important, because it creates a foundation in your mind to trust the decisions you have made. Without this foundation, fear, uncertainty and doubt play a major role in decision making, which is dangerous.

In conclusion, Marcus recommends we be mindful and reasoned in our thoughts, which most certainly leads to hodl.

May the force be with you!