The recent crash in cryptocurrency prices marks the third cycle I've experienced in Crypto.～
It reminds me of a passage from "Principles" that I read not long ago, which might be instructive for those experiencing a cycle for the first time:
All great investors and investment approaches have bad patches;
All great investors and investment strategies have weaknesses.
losing faith in them at such times is as common a mistake as getting too enamored of them when they do well.
Losing confidence in them when their weaknesses are exposed is a common mistake, just as becoming overly attached to them when they are effective.
Because most people are more emotional than logical, they tend to overreact to short-term results;
Because most people are emotionally driven and do not strictly adhere to logic, they often overreact to short-term results:
they give up and sell low when times are bad and buy too high when times are good.
They give up when things are bad and sell at too low a price; when things are good, they buy at too high a price.
I find this is just as true for relationships as it is for investments—
I found that this principle applies not only to investment but also to relationships with people and things:
wise people stick with sound fundamentals through the ups and downs,
Wise individuals always focus on solid fundamentals during various ups and downs.
while flighty people react emotionally to how things feel, jumping into things when they’re hot and abandoning them when they’re not.
On the other hand, superficial people follow their feelings, reacting emotionally, rushing toward what's popular and abandoning it quickly once it cools down.