WHAT TO DO WITH THE BEAR?

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Bears are scary creatures. If you've ever encountered one closely, chances are you won't be reading this post right now (because you would be dead) or you probably had a limb ripped off your body. I guess you can say the same about a bear-run.

We are edging close to the bear market. Prices of most cryptocurrencies are down by at least 10 percent--I have seen worse days, however, this trend has been persistent and it is scary for most investors and crypto enthusiasts.

I knew this day would come, around this period, although I wasn't so sure given all the positive sentiments around crypto and NFTs. I thought we would ride this wave till the end of the first quarter of 2022 but that doesn't seem to be the case. There is a lot of FUD in the market currently.

If you made some gains during the bull run and you reinvested that somewhere, Kudos to you. I was so fortunate that hive mooned during the end of the last quarter of 2021, which enabled me to reinvest somewhere else--still taking shape. So I do have opportunities outside this space which wasn't the case when I started.

When I got into crypto in 2018 i knew close to nothing about it. I came into this space as a content creator. However, over the years I have learnt a lot about this space and it has been a life-changing experience. i have experienced a bear and bull run during this time and that has informed my decisions and composure.

Now, the market is still far better than it used to be a couple of years ago and fortunately for me, I am more familiar with the lows than the highs. I have seen hive at 10 cents; bitcoin at $9,000. So in my mind, the market is still in a good place.

For those who bought the top, sorry. You might have to hold your coins a little longer, which is not a problem if you genuinely believe in those projects you bought into. Unfortunately, a lot of projects won't survive the bear run if it peaks. So if you did not do your research, well, you will learn the hard way.

For those experiencing their first bear run, welcome to the party. It is strange, I know but this is crypto. You need to get used to these price actions.

This might be the right time to cut down unnecessary expenses (you aren't as rich as you used to). Just make some minor changes if you do this full-time (either gaming, trading or blogging).

Most people tend to leave during the bear run which gives those that stay the chance to shine. So you might want to stay in your community--it needs you. Let's be frank, it is near impossible for a project to survive without the support of its community. So those who stay during the rough times are the real MVPs.

On hive, this might just be a unique opportunity to make a lot more tokens. You might even find your earnings go up, given that the demand on the reward-pool ( I am sure a lot of noobs still don't understand how the reward system works) will reduce significantly as there will be a lesser amount of posts and engagement.

Bear runs present unique opportunities for growth. Do make sure you leverage this opportunity. I believe the next bull run would be massive (twice as strong as the previous one) and this might be your chance to get some of your favourite coins at a huge discount.

this is the time to figure out where you want to be during the next bull run. You've seen how high these coins can go, so you have the unique opportunity to plan ahead. I only had the chance to hear about bull run prior to 2018. I never experienced it. Probably my actions would have been different if I did.

I am still bullish on the future of cryptocurrency. There is a lot more to expect from this industry and I am riding with it till the very end.

dance with the bear


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Posted Using LeoFinance Beta



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7 comments
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I think you're spot on when you say now is the time to decide where you want to be when the next bear run ends. Waiting until everything is crashing might be too late, as you'll be reacting to price movements you haven't though through in advance.

(Quick note: Try grouping your paragraphs with headers for a more varied flow. Instead of 1-2 sentences per paragraph, try 2-4 with the occasional subheading to announce when you're shifting from one thought to another. You've got some great points, here, but it's hard to go back and find them after the fact when everything looks the same.)

!1UP

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Noted. Thanks for the tip. I would make some effort to organize my thoughts a lot better. Most times I am freewriting, so my flow is usually random.

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Most times I am freewriting, so my flow is usually random.

This is usually what I do, first, with intentionally less structure just to get my ideas down. Next, I go back and read what I wrote out loud, then I try to break up my walls of text into simple thoughts. It's hard a first, but you'll find there are certain patterns you'll like following.

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