Prices falling – Signs of desperation – Emotional response – Reacting to predictions/Confirmation bias – Getting influenced by Mr. Crypto Market – Handing your happiness to Mr. Crypto Market.
Mr. Market, I guess most of us have heard about this hypothetical investor introduced by Benjamin Graham in his 1949 book "The Intelligent Investor". An investor who doesn't look at the big picture, fundamentals, long-term potential, but values the market according to his emotional responses, panic, euphoria and apathy. This is quite a common scenario in the nascent crypto market, prices going down, newbie investors getting deeply affected, emotions triggered, panic selling. The Mr. Market analogy is about a long term buy-and-hold strategy, crypto users preferred strategy, not saying it's the best, but obviously far better than emotionally reacting to market conditions.
1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price.
2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer.
3. You can stop caring about the price, and focus on the ideas behind crypto more.
He [Ben Graham] said that you should imagine market quotations as coming from a remarkably accommodating fellow named Mr. Market who is your partner in a private business. Without fail, Mr. Market appears daily and names a price at which he will either buy your interest or sell you his.
Even though the business that the two of you own may have economic characteristics that are stable, Mr. Market’s quotations will be anything but. For, sad to say, the poor fellow has incurable emotional problems. At times he feels euphoric and can see only the favorable factors affecting the business. When in that mood, he names a very high buy-sell price because he fears that you will snap up his interest and rob him of imminent gains. At other times he is depressed and can see nothing but trouble ahead for both the business and the world. On these occasions he will name a very low price, since he is terrified that you will unload your interest on him.
Mr. Market has another endearing characteristic: He doesn’t mind being ignored. If his quotation is uninteresting to you today, he will be back with a new one tomorrow. Transactions are strictly at your option. Under these conditions, the more manic-depressive his behavior, the better for you.
But, like Cinderella at the ball, you must heed one warning or everything will turn into pumpkins and mice: Mr. Market is there to serve you, not to guide you. It is his pocketbook, not his wisdom, that you will find useful. If he shows up some day in a particularly foolish mood, you are free to either ignore him or to take advantage of him, but it will be disastrous if you fall under his influence.
Anyone, or anything, bringing a present to the doorstep of your consciousness does not have to be accepted inside. They can be dealt with on the periphery, leaving the inner walls of your consciousness, and thereby happiness, untouched.
Not accepting a present at your experiential doorstep doesn’t mean you can bury your head in the sand, pretending that crypto isn’t now down 70% and you’re half as “rich” as you were at the start of the year.
But instead that you have a choice about how to handle and interpret this present that Mr. (Crypto) Market is bringing you. Maybe it even allows you to stop caring about the price, and focus on the ideas behind crypto more. I’ve found the ideas in crypto are always up and to the right.
If instead the present trashes the inner walls of your consciousness, then you are handing your happiness directly to the market, one of the most mercurial beasts alive. And in my opinion, missing the more important points— our mission to decentralize data, wealth and power.
Remember too, you can ignore Mr. Market. As Buffett writes, “He doesn’t mind being ignored. If his quotation is uninteresting to you today, he will be back with a new one tomorrow. Transactions are strictly at your option...Mr. Market is there to serve you, not to guide you.” There is nothing that compels you to check the market every day, or multiple times a day, or multiple times an hour.
In the coming years we’ll see a new all time high beyond what January 2018 represented. For me, this is not a matter of if, but of when.
But trying to predict when, or craving for when, is a recipe for suffering in crypto. So don’t get attached to the timing of the prediction, or the prediction at all :-) Meanwhile, do your best to sit in the roller coaster with equanimity.
A simple article on behavioral economics/psychology and guess a bit of spirituality as well, interesting read.
https://medium.com/@cburniske/handing-your-happiness-to-mr-crypto-market-d655da3927c2 
