Key facts:
Despite the downturn in the market, there are many people interested in learning.
With Bitcoin there are no learning barriers of gender, age or educational level.
I’m not going to get tired of saying it: education is key in the Bitcoin community. Especially in these times, where panic abounds in the market, social networks are full of cryptocurrency “haters” and some give messianic forecasts about its supposed recovery in the coming months. Yes, when the waters are rough, it is important to know how to navigate the river.
This idea became even more obvious to me last week, when the Digital Economic and Cryptoactive Business Chair of the Catholic University of Venezuela (UCAB) invited me to a discussion about the impact of social networks and news on the Bitcoin market. Under the slogan “Today, Say yes to the future!”, the Venezuelan academy already has its first cohort of students who are learning about topics like digital finance, crypto assets, and mining.
The first surprise I got when attending this event was meeting such a varied group of students. When thinking about Bitcoin, there are not a few who imagine that only the youngest and most masculine population are those who are interested in managing some kind of knowledge about this ecosystem. After all, the metrics say so: it is young people who invest the most in bitcoin and, especially, the men.
Nevertheless, When I entered that room I met people of all ages, people who could be my contemporaries, my parents or even my grandparents.
Likewise, I met many women who had already invested in bitcoin for the first time or they were taking their first steps to learn about the subject. Well, not much more needs to be said, the three guest speakers for that afternoon were all women very involved with the bitcoiner ecosystem.
In addition to this first impression, the second surprise I got was running into such a large group of students. It is not a secret that the Bitcoin and cryptocurrency market has not had its best year this 2022, being these periods attract fewer new users because there is a lot of pessimism and fear of losing money. However, I consider that exactly these junctures, when the market is in the red and everyone is crying, are the most prolific for those who are just getting to know the community.
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Why? Well, for a very simple matter: when the market is bleeding, it is easier to stay grounded and be realistic. And, in this case, that group of people gathered in the UCAB chair has that advantage ahead.
Talk about bitcoin when no one wants to talk about bitcoin
There is no easier situation to get hooked and lose your mind in the cryptocurrency market than when you are in a bull market. Undoubtedly, it is an exciting season, where the old school celebrate seeing their purses becoming more robust and the new ones decide to try their luck to enrich their homes. However, everything that goes up has to come down at some point, and when this happens it is the seconds that can suffer the most.
Accustomed to always seeing the market in the green and reporting profits with percentages of more than two digits, Those who take their first steps in the Bitcoin bull market can get used to it. Cryptocurrencies are not always in the green, even, periods of loss are usually longer and more painful than bullish rallies. In this sense, knowing how to deal with losses and accepting that the cryptocurrency market is highly volatile is a principle that we must adhere to from the beginning.
I say all this knowingly: I entered the BTC market in 2017. I saw how high it reached and I also saw it fall precipitously, I had to go through the harsh winter of 2018 after having tasted the honeys of success. It was not easy at all and there was a lot of feeling of defeat. I did learn quite a bit, though, which helped me to be more judicious when I saw the 2021 bull rally. I remember thinking, when I was about to hit $60,000 a unit, “this is going to go down at some point”.
And it went down, as happens with any asset, because market cycles are like that and in a macroeconomic situation like the one we are in, it is very difficult to expect Bitcoin to behave differently. However, I also know that at some point it will go up again and I will be able to enjoy the wait to which I have submitted. For manythe strategy is similar: wait for better times to come and enjoy in the meantime.
Therefore, I believe that those who are deciding to learn about bitcoin in the midst of a bear market have an advantage at their tables. They can enter this world without the noise of FOMO or the euphoriawithout thinking all the time about the price and how rich they will be tomorrow.
Rather, they can begin to learn about the technology for its strengths and weaknesses, for how new it brings and how revolutionary it can be. Namely, focusing less on the market and more on value. That’s definitely an investor who has more tools to use their money wisely.
Disclaimer: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of CriptoNoticias.