Again, and Again, and Again
Bear markets are spooky, so we're back with another GH0ST story to help guide us during these turbulent market conditions.
“I fly a starship
Across the Universe divide
And when I reach the other side
I’ll find a place to rest my spirit if I can
Perhaps I may become a highwayman again
Or I may simply be a single drop of rain
But I will remain
And I’ll be back again
And again, and again, and again
And again, and again...”
- The Highwayman
(Waylon Jennings, Kris Kristofferson, Willie Nelson, Johnny Cash)
Oh the cycles.
Round and round we go. Over and over again.
Any Pilot who frequents Tokemak Radio will likely recognize and appreciate these lyrics. The song uses progression and repetition – it begins in the distant past with the life of an outlaw, then a sailor, then a construction worker, and finally looks into the future of a starship pilot. The artist depicts this as reincarnation: the same soul enduring the highs and lows of these different lives over and over again.
Now I am certainly not here to debate the finality of death, nor the beliefs you subscribe to, but rather to examine the fact that as time goes on and we move in and out of the different phases, there is value in taking a step back to look at the big picture.
With tech, the big picture shows bumpy but steady progress up and to the right over time. Look at the DOW, NASDAQ, S&P 500, etc., and you see the constantly grinding gears of progression growing the economy. There are booms, bubbles, and busts along the way, but these are smoothed out over long time horizons.
The point is that it's easy to get caught up in the day-to-day. Being glued to the charts during a brutal bear market often makes even the most diamond-handed hodler capitulate, or leads to over-extending positions during bull market euphoria.
Like the oars of a ship, there is the downstroke into the cold dark waters, the resistance of the sea, and then the uplift into the sun and crisp air... over and over again. If long term decisions are made at either the top or bottom of this rhythmic progression, there’s a high chance of error. Your aim should not be to obsess over each stroke, but to dream of the destination and avoid striking a reef as you guide yourself to a safe port. Otherwise, you might find yourself LARPing Castaway in the middle of the ocean, with no food or water.
As the cycles dip us down in the deep and then lift us high into the sun, it’s important to recognize where we are progressing. Focus on what will fundamentally change crypto, finance, gaming, ownership, life, or the world. The pump-and-dumps with no real purpose or mission other than “numba go up” are tall waves that lift you high, provide an exhilarating view, and then plunge you into the depths.
Think of the folks that have held ETH and BTC since the very beginning – probably cashing in a bit here and there and earning modest yield, but ultimately enjoying a steady slow ride up and to the right.
There will be highs and lows all along the way, but make sure you have a long term goal in sight and a compass to navigate. That’s how you are GMI.
Follow the builders, the innovators, and the projects with the power to effect change.
So for now, I fly across the bridges and the chains, through the losses and the gains... adjusting and increasing my portfolio again, and again, and again, and again.
☢️❄️ Stay frosty! ❄️☢️