BEARISH AND CHANGING STRATEGY…
I don't know about you but I am not confident that the market will go up anytime soon. I think bitcoin might hit 30k sooner or later and drag alts with it. Some say the market is being manipulated and I agree to a certain degree.
I earn most of the crypto I own so there isn't much panic on my mind. However, I can not begin to imagine the level of frustration some investors are going through at this point.
We are still a long shot away from 10k which was the price of bitcoin around this time last year (I stand to be corrected). So many early investors are still in the green in terms of profit.
WHAT TO DO WHEN BEARISH?
You hodl. Contrary to popular opinion, I think the bull run is the perfect time to spend. You see a lot of money flying around. If you have a great project, it is best to launch during the bull run. This is because the enthusiasm toward cryptocurrency is high and people are open to new ideas and are willing to splash their newly found wealth.
However, the bear market, where I spend a considerable part of my crypto life, is hard and rough. A lot of people give up on crypto and leave a few people behind. These few are poised to lead the next bull-run if they play their cards right.
The bear market is the time to hold and build--your stake and reputation in the crypto sphere. You hold on to as much crypto as you can. You stay consistent and persistent. The dark cloud can only last for a while and when things move upward, you have a decent stash to spend and reinvest in other profitable ventures.
Some say the bull run is not over. Well, I hope so. I am not an expert in this field. I am going with my intuition at this point and the sentiment in the market right now.
You have a glimpse of what's obtainable during the bull run, never forget that. Let it guide your actions moving forward. Cheers!
A great opportunity is the bull market for those of us who managed to sell cryptocurrencies in the bull market, and now we are returning to invest in the cryptocurrencies that gave us a strong economic level, that's what it's all about, take advantage to buy cryptocurrency now and sell when the bull run comes.
Greetings and thank you for your valuable input.
I wrote a post letting us knows that the bull run is to spend while the bear is to invest or hold. If you read through it you will get my point more better. I have always warned that while running cryptoccurrency, try have a life outside it, this will help you not to to hate on cryptocurrency when the bear market arises.
I have concluded long ago that the bull run is gone, but the bear market has presented it opportunity again, we should make use of it and be among those celebrating when bull returns. Simply put, Use your bear market to invest into cryptocurrency.
fair point. I think with this bull run i am aware of what is possible so this is the right time to hold and strategies better. i will check out your post. thank you
As per my thinking it's the time to just hold and wait and watch situation, if you are new comer then it's the best time to invest and hold for long term.
that seems like the right line of action to take at this point.
@tipu curate
Upvoted 👌 (Mana: 4/5) Get profit votes with @tipU :)