It is so secret that the crypto market is currently experiencing a difficult time, and although it is not the worst that has happened compared to crypto winters in the past, it has been a tough one.
Bitcoin, which has once hit an all-time high of $68,000, seems to be really shy to hit and maintain the $20,000 mark.
Through these trying times, we have remained hopeful and owe this primarily to our solid minds and the crypto community we find ourselves.
How has the crypto community impacted our resilience through these tough times? Continue reading to learn more about the importance of a community and how we should continue standing strong together as we hope for a better turnaround in the crypto market.
What is a Crypto Community?
Yes, I know we have previously touched on the basic definition of a crypto community on this blog, but because of our new readers, let’s take it back a bit.
A community is a group of people who share similar interests and goals. So, a crypto community is a group of people in the crypto space who share similar interests in the crypto industry.
This community is made up of various types of people from different backgrounds. In a crypto community, you can find anyone from newbies to people who have been in the space for a long period.
A community is the best place to meet new people and share ideas and experiences to help one another. Newbies join communities to gain more knowledge and insight from the experts while the experts share their knowledge and expertise to help beginners in their new journey, and it is a beautiful thing to see.
Why We Need a United Crypto Community Now More Than Ever
Since the inception of cryptocurrency, beginning with Bitcoin in 2009, we have witnessed numerous Bitcoin crashes that have shaken the market. We have witnessed massive Bitcoin dips where it crashes 58%, 53% and even 99% in a single day!
Although what the market is currently going through in 2022 is not as bad as the massive dips back in the day, we cannot deny that it has left us a bit rattled.
In the course of months, people have lost hundreds, thousands and even millions of dollars to the crypto dips and NFT decline.
How exactly can we pick our heads up and keep going? Short answer, community.
The crypto community is more than just random people on the internet who also trade and invest in cryptocurrency. They are a lot more similar to you than you think.
The pain, hurt and regret you feel when you are affected by the market fluctuation and the dips, they are also affected. Not everybody might have the same feelings as you, but they are similar.
Remember, a crypto community is a group of people who share similar interests and goals as you. For anything that happens in the crypto market, many people share similar feelings about it, good or bad.
We cannot deny that the crypto market sometimes messes with our mental health. Check out these tips on securing your mental health as a crypto trader.
With a united crypto community, we can rely on one another because we know what we are going through with the market, so we can offer the best advice and course of action.
In the crypto industry, we have different types of traders and investors with different goals. We have people who are in it for the long haul and only use long-term trading strategies, and we have people who are quick in and out, the short-term traders with short-term trading goals. For example, Day traders and Scalpers.
During crypto crashes, all types of traders can receive different advice and strategies that apply to their trading strategy type.
Final Thoughts
The importance of a strong and united crypto community cannot be overemphasized. A community is there to teach you and lead you.
During the tough times, it is the best time to be active in your community, help out as much as you can, and lift one another up, and in the end, WAGMI.
