How to Deal with Financial Losses Caused by Bitcoin and Ethereum

It seems that the cryptocurrency bubble has popped. From an all-time high of $20,000, Bitcoin’s price is currently ranging around $7,000. Ethereum took a larger nosedive. From an all-time high of about $1,400, it’s now around $380. Well, shit.

Like many of you, my losses in cryptocurrency are quite substantial at the moment. I wasn’t able to exit when I should have, and I think that’s a different issue (a.k.a greed) I have to face. But as of this moment, I’m feeling fine. I know that it’s not an ideal situation to be in, but it could be worse.

At the end of the day, I’m a firm believer of crypto, and I am still bullish in the long run. I’m fine nesting my hard-earned money in crypto at the moment, and I made peace with the fact that I won’t be able to touch it any time soon.

I think a lot of people have problems dealing with financial losses brought about by Bitcoin and Ethereum. Here I am to give some advice on how to achieve financial bliss and a sound state of mind despite the proverbial crypto bubble just popping.

Just delete Bitcoin Ticker Widget. Delete all price update apps. You looking at the really shitty prices won’t help Bitcoin nor Ethereum increase in value. It will just make you neurotic and unfocused for the day ahead. Refreshing every minute, I mean every 10 seconds, is just a waste of energy and mobile data.

Oh god. I wasted so many hours of my life trying to find fellow sympathizers on r/bitcoin and r/ethereum. I was trying to console myself with the fact that other people lost a lot of cash with crypto too. I think it’s an innate thing for people to find others in a similar situation. At the end of the day it’s just a coping mechanism and the satisfaction that you get is just temporary. Time would be better spent looking at funny pictures on r/funny or funny answers on r/askreddit.

Do something productive instead of moping. If you have a day job, do your job. Don’t surf Reddit threads on crypto or compulsively check Bitcoin price. Put all your energy on your job, and who knows, what you lost in Bitcoin you might get back twofold with a raise to reward your hard work. If you don’t have a day job, try to learn something new. If you’re interested in data science, check out some articles I have on the blog to learn something new.

Jog. Go to the gym. Get your mind off crypto. When you’re sweating you tend to forget everything else. Not only will it help you forget about crypto, exercise makes you a generally happier person, based on my experience.

The four things I listed above are basically just an enumeration of common sense. I used to stress out a lot about my money in crypto, but now I’m doing swell. Hope it works out for you and for me in the end. Happy trading!

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