3 smart things to do during a bear market.
It took me back to the worst bar market I have experienced. Which was when bitcoin went down to 3k.
At that time, I sold everything off and went into fiat.
Today, bitcoin is well over 3k.
After remembering the events that ensued during that period, I had another look at the bear market happening right now.
As Warren Buffet will say;
Be scared when others are greedy and be greedy when others are scared.
I won't up and I headed to my laptop to do a few things.
In this post, I will be sharing 3 things you should do as a crypto investor in a bear market.
1. Research more
For every cryptocurrency, there is always a plan outlined and a set of goals to achieve.
In a bear market like this, your aim should be to look at the various crypto you hold and read their white paper thoroughly.
You should also look at other potential cryptos and analyse them and determine if you are going to buy or not.
After reading their plans, you should go ahead to make a thorough analysis of their progress and achievements so far.
If there is progress, then you should continue holding the asset.
However, if there is no progress or there seems to be no enthusiasm, this is the right time to cut them off.
2. Don't sell if there is no reason to
A lot of people are tempted to sell as this period is associated with a lot of shaky hands.
The fear is most times as a result of lack of information and trust for the performance of their asset.
There are different reasons to sell, the first is one's risk capacity.
If the risk is too much for you, opt-out as soon as it is costing you your peace.
If there is no prospect of ur coming back. Shitcoins, coins without a plan to solve problems are examples of coins with no prospect.
When they are heading down, try to run away as fast as you can.
However, BTC, Eth, HIVE and the likes are coins that are solving major financial problems and so will most likely find their way up.
In these periods, what you should do is to maximize the opportunity of buying more.
3. Close your wallet and wait
Benjamin Graham will say if you don't have access to the price of the assets you buy, which assets will you put your money into.
When you think of this question, you will know if you have invested right or not.
If you have invested right, close your wallet, go to a bar and get a cool drink.
Thank you for reading.
Keep on stacking.
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