How I Plan To Survive The Crypto Bear Market
I have been in crypto for 5+ years and I'm extremely comfortable with the crazy swings also because I have a background in Sports Betting pretty much being exposed to swings for decades. While I'm quite heavily invested, even if everything went to zero, I would still be able to live quite comfortably even though it would be a big blow. I also just enjoy what I do and it never feels like work which is quite the blessing.
My Original Bear Market Plans
My big plan for this cycle having gone all the way up and down again in the 2017 cycle was to 'sell the top' based on the same indicators that played out last time (Crazy Fomo and Volume Spike) putting a large part of my funds into PRPS which I personally consider the best risk/reward safe haven. (PRPS It the main coin of Clash Of Streamers Play2Earn Mobile game backed up by strong fundamentals) As crazy as this sounds I have quite some confidence in my own judgment on it. Obviously things didn't play out that easy and most that got crushed in 2018 got crushed again in 2022. I did however learn a lot from the previous crash and already put some of my profit safe during the bull stage of this cycle. This position is also up in value over the year but it is very illiquid and most of it is locked up in batches that release each 3 months.
I have cost averaged out more in the past 3 months but I'm no longer capitulating altcoins I still hold and will just ride the wave all the way down on them from here on out.
New Plan The Coming Months / Year during the Bear
Stay Active Earning, Learning, Grinding...
I have never been the tourist that comes and buys the top to leave and sell while everything is at the lows. Since I enjoy this market and the swings don't affect my mood all that much it's easy to keep going neglecting the price fluctuations.Keep Playing Play2Earn Games
The 2 Games I'm going full-out on are first of all Splinterlands which now also is much more enjoyable as an actual game since the last update. I will keep playing daily, do the guild battles, create content, engage with other players and the community, keep up to date with the development and so on. Same goes for Clash Of Streamers which I enjoyed the last year and see having a great future. I will play daily, create content, run my Community, keep up to date with the Development, save up for a full Land Plot with 100-Sub Plots (See How To Get A Free Land Plot & Earn).Keep Accumulating Gambling Dapp Tokens For Passive Income
I have been cost averaging SBET from Sportbet.one / BFG from Betfury.io / WIN from Wink.org these past years as they are project I can get behind that bring passive returns that actually come from real earnings. For this reason, they have performed quite well against the general crypto market somewhat acting as a hedge against the crash. I'm still buying more and added some today and I'm looking for more projects similar to these to potentially add. The passive income I'm receiving from them weekly has really added up and I also continue to make a weekly report on them
Keep Blogging on a Daily Basis
I enjoy writing and like the routine of making 1 good-quality post a day even though I likely will skip on some days without inspiration. Earnings will likely go down with the price collapse but I'm always looking at the long term which means I should be able to earn more coins that eventually should go up again.Focus on Betting when the new Season Starts
I also still highly enjoy betting the Belgian League and in just a bit more than a month this will start again. The betting market is always getting more competitive and sharp so I will need to make sure that I stay on top to remain profitable.Focus on Health & Weight Loss
I remains a challenge to find a good balance in this as I tend to be all or nothing. With the markets being less exciting I will have more time to put my priority on this even though I will still have enough things to fill my time.
Conclusion
Bull or Bear market doesn't really makes that much of a difference for me as I am into crypto for the long run without being overly influenced by the price or swings. I will just keep grinding it out day-in day-out loving the entire journey with an eye to reach full financial freedom one day in the hopefully near future to move onto more important stuff.
Crypto Play2Earn Games that I'm playing, Crypto Bookies That I'm using & Social Media Platforms that I'm on...
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Posted Using LeoFinance Beta
That’s the spirit. And you’re not alone. We in this ship
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Bear markets often make people leave cryptocurrencies, but plan number one for staying active earning, learning, and grinding is worth a try and a priority.
Plan number two is also good, I'm also active in Splinterlands, although I don't play every day, with the latest update, the opportunity to earn more while playing is getting bigger.
Now, what's difficult for me to do right now is point number four, blogging on a daily basis, I've made plans and targets about this, but sometimes I miss them, the rules for showing up every day put pressure on themselves, even though it's all doable. Nice post anyway.
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