Bear Market: Take A Moment To Breathe
It’s the bear season which has lasted for months now, some of us could get worked up by the constant down trend of the market. This can be mentally exhausting, it gets more exhausting when you buy the dip, but the dip never stopped dipping. I must have said this so many times but the dip can be a blessing and a curse, depend on which perspective you are looking at it.
The dip is the period where the value of crypto begins to drop massively, the value of your holdings are falling really bad and there is nothing you can do about it. Imagine checking your portfolio and the price is half the price you bought it, your $1000 investment is currently $500. It’s only a non-crypto long term hodler or a lucky crypto gambler that puts their money in crypto and never experience dip. But if your intentions in investing in crypto is for the long term, then brace yourself, you are going to expect a lot of dips. Dips that can make or break or you.
Blessing & A Curse
It depends on how you look at it, during the bear season, projects with no utilities or future plans tend to die off easily, while projects with higher utilities and a roadmap survive the bear market. This will make spotting a good project and a bad project easily. This way you can invest safely into projects that is of quality, if a project can handle the bear market then it’s worth investing.
Being a blessing, you can invest on projects at a far cheaper rates, if you are into NFT play to earns, you are going to get those NFTs at a cheaper rate. You are going to buy coins and tokens at a cheaper rate, this will give you the opportunity to stack up and have lots of assets. Builders also take the opportunity of building during times like this, imagine building on the Hive blockchain and you need a specific quantity of Hive to authorize that, during the bear market like today, the value of Hive is way lesser than $1, compare to the Bull market when it was $3.4. This means that you can afford to build as much as you can now because the price to build is cheaper.
A curse because, the value of your assets will be depreciating and no one likes it when their asset is depreciating. You get this excitement when you see the value of your asset appreciating really good, well, this excitement vanishes during the bear market.
Breathe For A Second
The moment you realize that you can’t control the market and trust the coin you bought, the better for you. This will help you rest better, no matter how much time you spend looking at the chart, you can’t move the market, you can’t control it, do something that will distract you from the market. You can go for walks, go visit a friend, spend time with your family, friends and loved ones. Take a moment to appreciate things outside the crypto chart and embrace some peace of mind, this way it helps distract you and puts your mind at peace.
Appreciate what you have and enjoy what you have now, do this before the next Bull market comes so you can have some peace of mind. Brace yourself it’s just a bear market, we are going to survive this together. I hope you have a great day today.
Posted Using LeoFinance Beta