Everyone is talking about the bear market and how it has really slowed down money making. Imagine you holding a coin whose value has reduced by 80%. To be honest, it is not easy to HOLD at this time. I remember how bitcoin dropped drastically sometime in 2018. That period was the worse period ever for me. I am sure a lot of crypto holders regretted holding any coin and possibly sold off. For people who didn't sell, a big congratulations to you because it yielded and it is still yielding profit.
Surviving the bear market is no joke but it is possible. How?
- If you can, buy some coins. This is the best time to invest in crypto if you ask me. Coins this period are sold in low amounts. If you can buy and HOLD now, when it goes up, you would have made some good profits for yourself. But then, nothing is still guaranteed in the market. What if the value of the coin still doesn't go up to the level of making profit?
- As a crypto investor, you have to be very careful on how to buy coins. Look out for scammers. The truth is that a lot of scammers are out there using this bear season to scam people and rip them off their hard earned money. Everyday, I see so many links on my DM sent by people who offer outrageous amount of airdrops. You have to be very careful and ensure that you shine your eyes this season.
- Also ensure that you control your emotions. Your mental health at this point is very important. Your emotions can make you make bad choices this period. It is not everyone that can stick around till the end. Don't let greed make you trade in coins that will end up in a disaster. Take one step at a time and control your emotions as much as you can. This is not an easy period for anyone. You mustn't hold every coin. Sometimes I deliberately do not check the market because of my peace of mind. So if you cannot take the heat, get out. Take a break as much as you can. It is good for you.
- Also ensure that you do things outside the crypto market. There are people who live off crypto. So what happens now that the market is not favourable? I advice everyone to engage in other activities that can fetch them money in the main time. If you are on hive, then very good for you. Hive is built in such a way that you don't even bother yourself so much about the bear market. Blogging without stress and still earning is a beautiful way to enjoy the bear season if you ask me. Imagine all you are getting from just socializing.
Conclusion
This bear market is affecting everyone. If you are a newbie in the market, it is more than discouraging for you. However, the points that I have made above will guide you and help you to stay put in this season.
As a hiver, there are so many ways to earn here daily. The #leoverse has grown so much that almost everything you do fetches you money. The #leofinance community has so many guidelines put out by a lot of users everyday. So instead of beating yourself up this season, you can peruse through the community and learn new things. Follow @leogrowth too and you will be amazed at what you can really learn.
Thank you for reading. If you love this post, please support me by reblogging and upvoting. Thank you so much for your support on all my articles.
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