Cryptocurrency may be a volatile investment, but it also has the potential to offer greater returns. During periods of market volatility, crypto prices often dip. That provides savvy investors with the opportunity to buy crypto at a discount. Shifting your money mindset is important if you’re looking to capitalize on market volatility. Rather than seeing market dips as a time of fear, view them as an opportunity to buy low and sell high. Crypto is on sale. And today is the perfect time to buy. Tune in as mindset coach and Goddess of Crypto Halle Eavelyn as she talks about how to shift your money mindset to capitalize on market volatility.
Watch the episode here
Listen to the podcast here
How To Shift Your Money Mindset To Capitalize On Market Volatility
In this episode, we are going to talk about something that is near and dear to my heart and to most of the women I know, sale. I was in Florence one summer and I bought this shirt. It is silk. It comes from an Italian designer and I bought it on sale at 20% off. I also love these earrings, which I bought in Serbia. They were on sale for $5. If you are reading this episode instead of watching it, you’re missing my giant practically carved, cool, plastic mustard earrings that hang dangled down to the bottom of my neck and beyond. They are huge. I like them so much, I bought three other pairs of earrings also on sale for $5 apiece.
I love a good sale. I know most women love a good sale. I don’t know what it is about the difference between men and women, but I feel like women care about buying something at a bargain price. I cannot tell you how many times I have seen a woman on the street and I’ve said to her, “What a wonderful dress.” By the way, ladies, if you are not in the habit of complimenting strangers on their clothing, hair, jewelry or general looks, please, I encourage you to do so. It makes the day of the person that you are complimenting.
Whenever I have said to someone, “I love your dress or your top or your pants or whatever.” They usually say something like, “I got it on sale. It was only $20. I bought it on sale. It was 50% off.” That’s something that women tend to share with other women. What is my point in talking about sales, even the ones that I love? Crypto is now on sale. I believe at the time of recording this, Bitcoin is approximately $25,000. It’s only now coming off of its bottom.It will make a significant difference if you stop thinking about your crypto as being in the toilet and instead start thinking about it as being on sale. Click To Tweet
When Bitcoin goes from its high of $69,000 and change per Bitcoin down to $20,000 and change, people have a tendency to freak the F out. They will sell all their stuff. They’re saying, “I bought at the top and I have lost 50%, 60% of my portfolio because my crypto has dropped so far.” I want to tell you something that is so important and so overlooked. If you stop thinking about your crypto as being in the toilet and instead start thinking about it as being on sale, it will make a significant difference.
I am a mindset coach. That’s what I do. Mostly, transformational wealth coaching is where I have chosen to have my niche because when I work with women, they make more money. This is something that I love and do all day long. I’m very familiar with the mindset of what it takes to shift your money energy. What I see on crypto Twitter, for example, is a lot of people freaking out when the market goes down. There is this small minority subset of people who are saying, “Everything is now on sale.”
I think of it as a vital difference because you are not losing anything when you begin to think about this crypto having dropped, unless you sell. Now, are you going to sell at the bottom of the market? I sure hope not. Are you going to sell on the way down? I sure hope not. One word or one phrase that we haven’t talked about so far in our crypto vocabulary episodes is the phrase, “The falling knife.” That’s something that I’ve learned is talked about a lot as stocks go down. The falling knife is basically the shape of the chart as the stock is falling precipitously.
You can imagine the shape of a butcher’s knife, for example. You see this steep angle as the price is falling down. That’s something that people get afraid of. I think when that happens, we get to look for bargains. I don’t know about you and it is entirely up to you as to whether you swing and trade, which means you trade the big dips or you day trade, which means you’re trading literally every day.
I am a holder, which is known long-term holders in crypto are called hodler apparently because somebody misspelled it. This was something that we talked about in one of the crypto vocabulary episodes. Apparently, originally misspelling of hold. Now you say, “I hodl.” I am a hodler and I only buy when there’s a dip. I add it to my portfolio and I hodl. I miss things.
Shib is a coin that I have held for a while and usually is considered a meme coin or certainly an alt coin. Shib is something that I like. I have a considerable amount of it. When it went up, it jumped by over 30% and I missed that jump because I didn’t sell at the end of it. It went down and now it was up only by 12%. Now there are a lot of people out there who would say, “You missed an opportunity. You are now losing that 20% difference between 32% and 12%.” I don’t think of it like that because I am not holding for the short-term. I’m hodling, which means I’m holding for the long-term.Cryptocurrency is something that's going to be around for a while because it has so much support. Click To Tweet
I believe in this particular cryptocurrency as something that’s going to be around for a while because it has so much support. There are other cryptocurrencies that we have seen that have disappeared. We’ve had the demise of cryptos. We’ve had the demise of crypto exchanges. If you lost money in one of those transactions, you can feel bad about it. The truth is that there is a lot of volatility during the wild West stage of crypto.
There was a statistic that came out that according to the current rates of adoption, there will be 1 billion, that is 1/6 to 1/7 of the planet, people using cryptocurrency within the next four years. Add that to the other statistic that came out about Deloitte Touche. I think it’s the Deloitte part of that that had to run a survey of retailers and 75% of retailers said that they expect to be taking some form of cryptocurrency over the next two years.
For example, Shiba Inu has had utility added to it by the fact that AMC, the movie theater conglomerate, has started accepting shib along with a couple of other forms of cryptocurrency as payment. What that looks like to all of you is pretty straightforward. It looks a lot like Apple Pay. You hold your phone up and it takes the money out of your crypto wallet instead of taking the money out of your Apple wallet.
If you’re familiar with Apple Pay, it’s another form of digital currency. Functionally, that’s what it looks like. When it comes to the currency itself, you have to decide, is this something that’s going to be around for a long time or is this something that’s not? I am not here ever to give you financial advice. I’m here to talk to you about how the world is working and how things are changing as we move forward. Also, remind you that the mindset of your wealth consciousness is created by how you show up inside of an opportunity.
When crypto is on sale, to me, that is an opportunity. If you think of it like that, it will begin to change the way that you show up whenever there’s a dip in the market. I know people who cannot stand the rollercoaster of the ups and downs of the regular stock market. Let alone the crypto market. The stock market has taken such a beating that it looks a lot like the crypto market. This stock lost 60%. This stock lost 80%. That thing is something that we’re seeing a lot of.
As we move from crypto being this complete outlier into the mainstream, we are going to see more similar action inside of crypto that we do inside of the stock market, which is another thing that will cause crypto to start to feel more normal. We do see now these incredibly volatile swings. Stuff dropping up to 99% and then recovering and coming to another all-time high.The mindset of your wealth consciousness is created by how you show up inside of an opportunity. Click To Tweet
I’m not saying that that is what is going to happen. I am saying that crypto is here to stay. As you were going through your own experience with your crypto portfolio, if those highs and those lows are making you feel like you’re on a rollercoaster ride and you don’t do well with roller coaster rides. You start to feel sick and that’s bad. How do you change that? Stop thinking of it as being incredibly volatile. Start thinking about it as being on sale. What happens to a sale? Eventually, it ends then stuff goes back to regular retail pricing. The swings in the market, although they are big, are the same because everything is cyclical.
Your money is cyclical. Your cashflow is cyclical. Your inflows and outflows are cyclical. Your belief in your money can be expansive. That’s what I want to encourage you to do. You never need to sell your crypto. If you look back, I think over 10 years or 20 years, Bitcoin especially will prove to be a very sound investment. Bitcoin is always compared to gold but the returns on Bitcoin, even the big point at $25,000, said that the Bitcoin at $70,000 has been significantly higher percentage-wise since it came out than the return on gold.
You can look on the internet to do these comparisons. You can also look and see that most people are expecting Bitcoin to go to $500,000 a coin at a minimum to $1 million a coin. It is something that I hear from people who know what they’re talking about and are in the financial world full-time and are very well-respected. Not everybody believes that. There are other very well-respected people who are still telling you that Bitcoin is not a flute but a Ponzi scheme, which it isn’t.
If you look, the whole point of a Ponzi scheme is that there’s no reason for it to exist and it only exists because people are putting money into it. There’s an incredible amount of utility in Bitcoin. I’m saying, in general, the opinions vary about as wildly as Bitcoin’s financial swings. What you can do to keep yourself sane and stop feeling the heaving stomach issues that you would get if you want an actual rollercoaster is to focus on the idea that Bitcoin is on sale or the crypto that you want to invest in is on sale now.
If you can afford it because you have the money set aside for this expense, now would be a great time to put your money into it. I’m not saying now this minute because, first of all, I have no idea what your financial strategy is personally. Secondly, I’ve no idea when you’re reading this, but I’m not talking about now in the sense of today. I’m talking about when you are looking at the big dip and you’re thinking, “Is now a good time to buy?” When the thing is on sale is a great time to buy. Here’s when it’s not a great time to buy when there’s what’s called a rally.
We’ve talked about these terms in the crypto vocabulary episodes. You may want to go back and review those, but of course, I’ll explain as I go. A rally is when there’s a lot of gathering energy and it’s causing people to put money in and that’s causing the price to go up precipitously. For example, shib was experiencing a rally. That’s what caused the price to jump up by 32%. That and there were people at the very top of the market called whales who were putting a lot into shib.
Anything like that can cause a rally, but when that’s happening, you start to think, “Let me get on the bandwagon with everybody else.” Unless we’re at the very beginning of a rally, it’s usually not a good time to invest your money. It isn’t because after the rally, most people tend to get in toward the top and feel bad. The people who got in at $65,000 for Bitcoins feel terrible because it’s only at $25,000 now and that’s a significant drop.
The truth is that, especially with Bitcoin over the long-term, I believe, and again, a lot of people, a lot smarter than me, believe that, as Greg Foss put it, the price of Bitcoin now will look like a rounding error in 10 or 20 years. That’s the thing that people are willing to go on record as saying about Bitcoin but with all of the other cryptos, especially all of the volatility that we’ve seen lately, the jury is still out. Make your own financial decisions. Make those choices wisely, but whether it comes to stocks or crypto, please remember that buying on sale and thinking about it as being on sale can make all the difference in how you sleep at night and how your tummy feels during the day.
If you have enjoyed this episode of Goddess of Crypto, please comment on it, like it and most importantly, please share it with all the women that you know, your mothers, your daughters, your wives, your sisters and your best girlfriends. I want every woman in the world to know about her legacy of wealth. Please share Goddess of Crypto with them. I’ll see you next time.