The bear market is the worse time to be in the crypto market especially if you did not see it coming. I and my friends have been here for close to a decade. I have gone from losing my scholarship money to losing my rent to losing salaries and I think I got it covered to an extent now.

I know there are a lot of people who are so quiet now, there is less posting going on on spaces like STEM social where I usually post daily and even Leofinance has this air of uncertainty (at least from my favourite content creators). But even though my reputation may not show it, I have been on the Hive blockchain for quite some time, (way back in the Steemit days).

Oldtimers and Newcomers

If this is your first time, I would like to help you meditate (so take a deep breath! And breathe out). This is not the end of the world. The good news is that if you are reading this then you are alive, the bad news is that it is very possible that the bear market is not yet done with us. Speculators are putting out distress messages that BTC might fall more because some of the smaller exchanges that are linked to FTX are also going down.

Savings

If you have emergency funds and you are currently in a state of emergency ( need to pay for a place to stay, you need food you need water or your loved one is sick) this wouldn’t be a bad time to touch some part of that. What is the use of having an emergency fund if you are not ever going to touch it?

If you don’t have any, this would be the best time to pick up a menial job with daily/weekly pay. Ask for help, put out a distress call to that really helpful uncle that you promised it was the last time. Find a way to make it past every second, every minute and every hour.

Start planning to build up an emergency fund (don’t invest in anything if you don’t) you might be caught up in the FOMO but I can assure you that if you jump into these investments and they fall further, you will have only yourself to blame, your emergency funds are more important than your investments.

Invest

If you have made provision for your emergency funds, then you can start investing. Throw in money you can afford to throw in. The question is how do you know how much you can throw in? My equation might not work for you but I know that the most important thing is to sort out food, water and shelter for yourself and your loved ones who depend on you.

Read up on what you want to invest in. There are many dead spaces you could throw your money into and you will not see that money ever again. A friend of mine said most coins on Binance are safe for investment…FTT was on Binance and so were a lot of these other coins that lost value very quickly.

Work twice as Hard

This is the time to be very calculated with your efforts and your earnings. You could be building generational wealth if your earnings are substantial. I have been working on Hive. I post on Leofinance, STEMsocial, Hive Open Mic, AfriTunes and Comedy Open Mic. It is the only way I can maximise my income. One thing that is cool about working on Hive is that half of my earnings are going into an already existing investment and I am getting my payout.

I am looking for ways to increase my earnings and you should too. Whatever job you are doing, now would be a nice time to take up more responsibility for the extra money.

Upvote and Reblog by post

If you do, you’ll earn half of the payout and when you reblog my post you’ll show your followers that you support an awesome content creator on Hive. It also helps me stay fed, and clothed and send money home to the family…so support my work!!