Bear Market is ruining plans...

Crypto has been in bear market for some time. Some of its effects are being noticed in people's actions and its also reflecting in their portfolios. While if I am not wrong many of us are being affected by the bear market even after we have prepared for it in the last bull run!

Bear Market in Crypto

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The last bull was a fascinating phase of crypto. Looking back it felt like a golden time which will be missed! But during that period there were certain decisions required to take in order to face this current bear market situations. Some people use that opportunity and made proper use of the bull market while some have made mistakes and just stood there thinking the market would rise even more. But like it is said "Whatever goes up, it shall eventually come down!"

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• Make a plan

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This is something which I lack when I get too much excited! But in the last couple of months it has been working on my favor and I am laying out plans for almost every step that I am taking in crypto. For starters in the last bull, I saved a portion of asset and converted them to stables. I must be honest, I was planning to re-invest them into crypto but at some point it became a savings for the bear market. It helps a lot. In this phase I should have liquidated my profits more and converted them into stables. This way I would have had more opportunities as of now. So in bull market its better to plan to for bears. So plan ahead while there is still time!

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• Do not fall into the trap of FUD

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In bear markets it feels like all hell is opening its gates. Its like as if all the bad news had to arrive at this very season. Where were they when the bull market was present. But than again it happens. People takes rash decisions and end up loosing money. For starters, as of now the crypto that I bought at bull market they are already at a loss. So if I cash them out I would eventually get our of market. And that even with a huge loss which I will not have a way to recover. Unless I input more outside money into crypto. But I have faith in the coins which I bought as I did my research and I am going to hold onto them for long term. So this short term loss does not affect me that much. Do not fall for this sort of trap! During bear market people loose money that's an obvious truth but there is also another truth which is, during bear market people make their fortune!

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Bear Market ruined my plan

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• Maximizing loss

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I am on such a state where I need to sell of some of my holdings despite I want. One of the reason is I did not save enough for this bear market. Some of the altcoins which I was willing to hold for a very long term I am getting them out and cashing on them. It really hurts! I bought some of them at three or four times the price but due to the current situation of mine I am getting rid of them. But at this point nothing can be done. Some of these coins are really creating their own ecosystem and bringing lots of utilities to their blockchain, I will miss them in near future. What a pity!!!!

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Although I am happy about one aspect! I am not selling any of the assets which are related to HIVE. Instead in this bear market I am able to build my portfolio much stronger than I was in the past. I suppose its a very big plus point for myself.

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This sort of situations happens! I suppose in the next bull run I will not commit the same mistakes which I did in the past ones. And this time I will save enough stables for me which will run me through the winters. I hope we all get to make best decisions for our portfolio which the situation might be, bear or bulls!!

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Best regards

Rehan

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