Staying Objective in Crypto: Why this is important
Crypto has come a long way in a short time. Only having a lifecycle of 14 years crypto has seen unprecedented growth that is rarely if ever seen in more established and evolved markets like the Dow Jones or the SP 500 indices that have been around for roughly 100+ years.
Since its inception, crypto has entertained a vision of creating more control and transparency when it comes to handling transactions. The idea is born from an ideological and rather anarchist perspective. It is what many people love about it. Crypto, like the gaming industry, has an extremely passionate user base. This passion connects us as a community and we all believe we are part of something great. The downside of this however, is that it's easy to slide into a mindset rejecting anything that opposes and challenges the initial vision.
The truth is that visions evolve, and the world is forever changing. Therefore it is of the utmost importance to be able to look objectively at things, and keep on doing so.Otherwise we might get stuck, and cling to ideas that may have grown outdated. Having a cultist like mindset clouds judgment. In order to press forward in a new and ever evolving industry, we must be objective. Crypto is such an industry.
As we have seen immense volatility within the sector over the past few years, it has attracted more and more attention from authorities. Many articles have been written speaking out that regulation will doom the entire industry, as regulation is commonly believed to be a bad force within this space, opposing crypto's original vision and purpose. But have you ever thought of arguments why it might not be that bad after all?
Let's look at some events that are likely to have had an effect on your portfolio if you have been around the block for a while. Have you lost money in an ICO? Have you ever gotten rug pulled by a crypto scam you thought was going to give you at least 10x return on investment (ROI)? Or have you lost money simply because the market increased 300%, only for the next day to give back 80% again?
It can be challenging and time consuming to keep track of all these events, price movements, and news bulletins. And once you have plowed through all the information, when would you find the time to react accordingly?
This gives rise to what initially might seem an unpopular thought. Maybe a bit of regulation might actually be good. Boldly said, regardless of your opinion on the matter, we all know deep inside that it will come at some point. So maybe, we can start informing ourselves in the best way possible, spend our time learning as much as we can, so that when the time comes you know what to expect. And maybe it might not be such a bad thing after all.
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Disclaimer:
The information provided above is not financial advice but for educational and entertainment purposes. Please do your own due diligence or consult a financial advisor before investing in any digital assets.
All opinions expressed on Bitget’s Soapbox (also known as the ‘Soapbox’) are opinions of individual traders using the Bitget platform, and do not reflect the opinions of Bitget or its affiliate companies and partners. The Soapbox author’s opinions are based upon information they confirm to be reliable, but neither Bitget nor its affiliates warrant its complete accuracy, and it should not be relied upon as such.
