Surviving the bear market
The crypto market appears to have entered a bear market with many difficulties plaguing markets throughout the world, such as the Russia-Ukraine crisis and inflation. Whether this is truly a bear market is still up for debate among crypto gurus, but one thing is certain: the market has dropped about 50% from its previous high.
The age-old dilemma of how to play a market downturn is whether to hang tight, load up, or escape in panic. Here are a few things that have lasted the test of time and can be relied upon.
Take Advantage of Dollar-Cost Averaging
Dollar-cost averaging is an investing technique in which crypto investors put a fixed amount into a single asset (for example, BTC or ETH) at regular intervals, regardless of whether the crypto market is rising or falling. This is one of the best methods to use during the crypto bear market.
Conduct Your Own Research.
While it is good to listen to professionals and gurus in the crypto world and formulate opinions, nothing beats completing independent research. Look at their historical charts before trading crypto pairs, and thoroughly research the fundamentals before purchasing and holding any other crypto.
Have a long-term and clear perspective.
Draw attention to the fact that someone wins and someone loses with crypto. As you may be aware, crypto is quite volatile. Cryptocurrency has long been seen as a digital goldmine, but it, like any asset, has its ups and downs. Instead, try looking at the crypto market from a long-term perspective.
While the bear market will not persist forever, it will provide a chance to purchase blue chip coins at a reduced price. It reaches a tipping point, and the bull market continues, rewarding those who weathered the storm.
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