In addition to making money in the bull market, you also need to have a correct mentality! Researcher Aylo: Too many people lose money just because they are greedy.

Cryptocurrency researcher Aylo took to X today to share some thoughts he realized while discussing cryptocurrency investing with friends recently.

I've been having quite a few conversations with a friend that has life changing money in crypto currently.He's been in this position before, but lost/rode it all down last cycle. Here are some thoughts from those conversations:I don't know how long this bull market lasts.… pic.twitter.com/RjVXEPvp0n

— Aylo (@alpha_pls) May 31,

Aylo said his friends had huge fortunes in cryptocurrencies in the past, only to lose them in the last cycle’s bear market. Now, this friend has once again relied on this bull market to regain life-changing funds, and this time he must learn from his mistakes and make different choices. Here are some of the ideas Aylo learned during the exchange:

I don't know how long this bull market will last. My guess is that we are currently at about 60-70% of the bull market stage.

However, it is an undeniable fact that no one can predict the future. We should be humble enough to admit that there are too many variables and unknowns in the future. But if you are someone who currently holds a large amount of cryptocurrency and would completely change your life by withdrawing money or rebalancing your holdings into lower-risk assets, you may now be in a position where you will only have a net loss.

Let me explain.

Once you have enough money to eliminate all or most of your worries, more money generally has little effect on your happiness.

If you're very materialistic, you might feel differently, but for most people, more wealth is just more wealth, with no multiplier effect on purpose, well-being, and happiness.

So, if you ever find yourself with a life-changing amount of money, then I would argue that holding large amounts of cryptocurrencies will only cause you losses. More gains have little impact on your overall well-being or happiness.

Once you are sure that you are financially free, you can come back and enjoy speculation at any time. Ensuring some form of financial freedom is the biggest upgrade you can make in your life. It prepares you for exploring infinite possibilities in the future.

Greed and arrogance are the only things that stop people from taking their chips again after they have already won the market.

Another saying that keeps popping up is "This is the last chance, there will be no chance to earn excess returns in the future." This kind of irrational fear and logic also drives people to choose to continue holding when they already have "unrealized gains" that can change their lives. Most people can’t get over this thought of missing out on gains in the future, which is why we see most crypto players continue to lose life-changing amounts of money.

In cryptocurrency circles, telling people to "sell early" is an acceptable and correct decision, even if it is a less popular topic. I have the utmost respect for anyone who can stick to their plan, be immune to outside influence, and be able to put aside what most people consider to be a sure gain in the near future.                                                                                                

Just chat, maybe these ideas can help you now or sometime in the future.

This article: In addition to making money in the bull market, you also need to have a correct mentality! Researcher Aylo: Too many people lose money just because they are greedy. First appeared on Zombit.