Sometimes, the best thing you can do is take a step back and look at the big picture.
That’s as true for investing as it is for life.
It’s easy to get sucked into the here and now. Where is Bitcoin trading today compared to last week or last month?
A far better comparison is where it was years ago, during the last bull market. And especially where it was trading during the previous bear market.
If you’re invested in cryptos as I am, a week, a month, or even a few months is trivial. Focusing on where cryptos have come over the years, not months gives you a much better idea of where they’re going.
It also makes it much easier to control your emotions.
And if your portfolio is down, take advantage of the opportunity and average down. It can seem counterintuitive to buy when the market is red, but it’s a no-brainer once you zoom out.
When in Doubt, Zoom Out
Investing can be difficult. Not because of the necessary due diligence, but because it takes patience.
Humans lack patience. We gravitate toward instant gratification in every aspect of our life.
Take the company Amazon as an example.
They didn’t become one of the largest companies in the world because they have the lowest prices. They did it by offering insanely fast shipping times. Two-day and even same-day shipping in some cases.
Financial markets are similar.
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