Crypto talk - how to survive the bear market
Gooood morning lovely readers of the Goddess Blog and welcome to another lovely Saturday and another blog post with your one and only Goddess in order to finish off this week! For today I will be sharing some very basic tips and tricks that will come handy for all of you crypto-lovers out there in the current bear market! Stick around for today’s post, be sure to devour all of the crypto knowledge that the Goddess has to share - and as always, be sure to support your Goddess with some cups of coffee along the way if you are enjoying the content!
I think that it is quite evident that we in fact find ourselves amidst a bear market in the world of crypto.
It has been a long time coming honestly. And while the bear market is always a tough and scary period, I think that it is very unfair to dismiss it and thing negatively of it. Why you might ask? Because money is made during the bear market, not during the bull one.
Let me explain, bear with me for a moment (pun intended 😄).
First of all, I would like to outline three very basic tips that are to be followed during a bear market run:
Be patient
I cannot stress this one enough. This should be like the holy grail for every crypto trader out there. I mean it because I also fail to be patient sometimes and it almost always bites me in my ass afterwards. There will be plenty of time to accumulate whichever crypto project you decide to invest in. Just sit back, relax and don't rush! We will have plenty of time, a bear market usually lasts way longer than a bull market does - so just set aside your FOMO and be patient.
Make BTC, ETH and HIVE your main holds
This one can be a bit tricky, but hear me out. Usually, the must HODL coins that you should be slowly accumulating and putting your extra money towards are BTC and ETH - but I am going ahead and adding HIVE to that list. I know that the future is bright for HIVE - perhaps not to the extent of BTC and ETH, but I still see a lot of great things in store for HIVE in the next bull run.
Invest in projects that build and launch during a bear market
These are the hidden gems out there. These are the ones that will make more than 1000% of gains on your primary investment - if you recognize and invest in them at the proper, right time. These are the ones that can bring you silly money.
And now of course, the inevitable question: how can we recognize some of these crazy-money projects?
Well, I would say (and also the majority of crypto investors will support that) at least three sectors of crypto have a very high chance of succeeding during the bear market: DeFi, Layer2, launchpads, GameFi, privacy projects.. The future is bright for quite a lot of aspects of crypto - but how can you, a simple mind like myself deduce which project exactly to invest in?
One thing that we all must learn to do is doing a fundamental analysis. Always, and I mean this - ALWAYS do your own research. Do not put your own money at risk due to someone else's opinion. Always be dilligent before investing - read up, inform yourself before pouring in some of your hard worked money in a project. Your wallet will thank you later.
The best strategy during a bear market - and it comes back down to tip number one - is to accumulate slowly. Patience really is the key here.
I don't think that we have reached the bottom yet. I still think that the bottom is bellow the 20k mark for the BTC, sadly enough. The good news is that if (or when) that time comes, we will have plenty of days ahead of us in order to slowly accumulate.
Be patient, don't be dumb and do your own research.
One last thing before I conclude this Saturday post of mine:
WAGMI is a lie. It may be sad but it is the truth. Nevertheless - we can still make it if we learn how to be patient and careful with our investing and analyzing.
That’s it for today’s post guys! We finish off the week in quite some style, am I right? 😄😄
I wish you all a wonderful weekend ahead, Goddess will be back on Monday,
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