- Crypto bear markets are not fun places
- Vitriol and anger are prevalent before boredom sets in
- There are certain things you should and shouldn’t do in a crypto bear market in order to survive
Crypto bear markets are not fun places, especially for the first timer or the casual market acquaintance. The devil makes work for idle thumbs, and by not being disciplined you can easily whittle away what you managed to salvage from the bull market. In order to get through a crypto bear market there are certain things you should and shouldn’t do in order to keep yourself solvent, and sane, in time for the next bull run.
Take a Break
A crypto bear market is a perfect time to take a break from the crypto space. Unless you’re building a product, there is no advantage to being around in a bear market – those who didn’t sell at the right time are angry and bitter, those who have been predicting doom and gloom since 2020 are engaging in epic schadenfreude, and those Discord groups that cheered each other on last year are going to be like graveyards.
Set alerts for the coins you want to buy at the points you are interested in, and go and find a new hobby.
Just don’t do it. In a crypto bear market, every rally is sold off, and the gains are often magnitudes smaller than in a bull market. Unless you have an innate ability to predict the bottom, which no one has, trying to nip in and out of trades is a mug’s game.
The risk versus reward is simply not there, and you’d be much better off holding your capital until the absolute depths and then deploying it on a steady basis. Because we all know what bull run returns are like.
If you’re a developer or you’re building a project and you’ve been careful with your resources, a crypto bear market is the perfect time to get down to it. Your community will be stripped down to those who really care about the product, with all the moonboys squawking about price all having vanished into the ether, giving you the chance to concentrate and really get down to it.
Every crypto bear market is filled with predictions that the crypto space is dead and buried, and every time it comes back. This isn’t luck – this is good ideas and hard work executed at the right time, so get building!
A Crypto Bear Market Is Brutal, but It Does End
Crypto bear markets, like any bear markets, are brutal, there’s no getting away from it. But, as we have seen many times over the past (and unlike the mainstream media will tell you) they do end and the market does come back – often with a bang.
So use the crypto bear market to take a break, learn, and recharge and be ready for what’s coming in 2023…