Surviving the Crypto Bear Market

The crypto bear market treats harshly some of the investors who rely on it wholly. And this is what I always say, don't just rely on crypto wholly.

If you find the ease in the bull market earning handsomely, you have to remember that situation can around pretty much quickly considering the unpredictable nature of the crypto market. That means, we must have a back up plan for any uncertain situation.

I have seen people out here on Hive, sharing how they are now facing some financial complications and have to sell some of thier crypto to cope with it while they were trying to build their portfolios.
Which is painful.

Source

Sorry for as it may sound a bit harsh to generalize along those lines, but as the saying goes: even a fool can make money in a bull market. How good a trader you are is about how are you going to navigate a bear market.

There also are some ways which could help you survive the bear market.

Stay Calm

Emotions play a very important role in a business. Whether you may see a bear market as a buying opportunity or feel stressed about the falling prices, you need to stay calm and asses the situation objectively.

Decisions based on your emotions are something you may most likely regret it down the road.

You need to ask yourself, why are you here in the crypto market. Are you in here for a longer term or just looking to collect quick bucks.

Think Staking

Well it's good to stake your portfolios and earn passive/ active income for it as staking increases the size of your wallet. The bigger the size of your wallet, the higher you may earn rewards.

Staking also may prevent you from panic selling.

With the resumption of the bull market, you get a chance to start with even more than you had previously.

Stay Updated

It is important to stay up-to-date and have a situational awareness about the present market trend.

Having yourself updated, you may utilize the situation positioning yourself accordingly. You may then have a chance to act quickly and minimize your losses.

Avoid Exchanges

As they say, not your keys, not your crypto. And this applies to a centralized, custodial crypto exchange as well.

In a turbulent bear market, the risks involved with losing your funds gets high.

With a market crash and billions of dollars wiped out, there is a chance that an exchange goes insolvent.

It's good to store your crypto in non custodial wallets or a tested hardware wallet in order to have full control of your crypto portfolios.

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