If you find asset drawdowns distressing, you might want to take a look at the situations of these big players:

Michael Saylor (former MicroStrategy Strategy) currently has a Bitcoin position with an unrealized loss exceeding 6.5 billion USD (and some reports indicate a total quarterly loss as high as 12.4 billion USD), with an average cost around 76,000 USD, while the Bitcoin price once fell below this level.

Tom Lee (founder of Fundstrat) and his related institutions are also facing unrealized losses in the hundreds of millions USD, as the recent sharp decline in the crypto market has put tremendous pressure on the bulls.

Yili Hua (Trend Research Fund) has an unrealized loss of approximately 470-650 million USD in Ethereum holdings (with total losses even higher), having used high leverage and facing liquidation risks, and has recently been reducing positions to pay off debts.

These are all top players in the crypto and financial circles, possessing strong information channels, professional teams, and years of experience, yet the result? They are still being ground down by the market, with losses much larger than most retail investors. The financial market has never been a place where higher cognition guarantees winning; it is essentially a “makeshift stage” full of uncertainties. No one can be right all the time, and even these giants must face massive drawdowns. So, don’t be too hard on yourself, and don’t collapse easily. Trust your judgment, and also trust that the market will eventually provide answers—hold on to what should be held, and adjust what needs to be adjusted. Time and probability are on the side of those who are optimistic in the long run.