How I Handle The Cryptocurrency Bear Market
Bear markets can be tough. We cannot control them since they are a natural part of market cycles.
In this video I discuss how I handle the bear markets and how they different in crypto as compared to equities or commodities. We do have an advantage in crypto that most people do not realize.
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Dollar Cost Average and keep on business as usual
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No better way to DCA than added more tokens at zero cost.
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I just bought some more hive while the price is down. I hope to hang on to it for the long haul. Time will tell.
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You can also use the Hive you just bought to increase your holding of Hive through curations and the adjustment for inflation.
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For me Buying the dip and If Anyone do not have enough USDT, Just Hodl
Thanks for explaining the difference between stocks and crypto currency. I think that's an important difference that many people overlook.
As for an opportunity to build during bear market, I just added small blocks to my house exchanging HBD with both HIVE and a $20.00 worth of LEO. I can't wait for the floor price. As for me, they are already on sale.
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There are opportunities in bear markets if people are looking longer term. It is something that few do though. Instead, they get caught up in the emotion of the moment.
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Right now I think is all about buying the dip, cause no one knows how long it will take, but of all ,I will still say holding too is still very profitable
Well I do think many care but in the long run, they will be happy with the results.
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Honestly for me,if their is anything special to do right now,I will say buying ,that is all that can actually help to make amend to some loses in the course of this massive drop
DCA is a sound long term strategy for those projects one is optimistic about. It is hard to deny the validity of the concept.
It will help to turn losses into bigger gains over time.
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Sound advice and I also suggest people to stop looking at their portfolio if they are in it for the long term game. HIVE is fairly good in the way we can build and we should also be better more in HIVE as the price goes down too.
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The building aspect of things is really unparalleled when you think about it. It is something that execs can do with stock options and such. But the average person usually has to put up more money in the equities market. With crypto we can keep filling our bags.
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Summary:
In this episode, Taskmaster talks about how to handle bear markets in the crypto world. He emphasizes the importance of not getting emotional about market fluctuations and suggests focusing on the long-term view. Taskmaster discusses the concept of staking coins and getting more tokens even in a bear market. He points out that unlike traditional markets, in the cryptocurrency space, individuals can increase their holdings even as prices drop. Taskmaster also highlights the significance of consistently adding to one's positions in solid projects during bear markets.
Detailed Article:
Taskmaster starts the episode by addressing the current bear market in the crypto world and emphasizes the inevitability of price fluctuations. He stresses that market conditions are beyond individual control, and prices will always have highs and lows. Taskmaster contrasts the reactions of different investors to market movements, highlighting the importance of maintaining a rational and pragmatic approach.
The speaker delves into the concept of market value versus price, referencing Warren Buffett's famous quote that "price is what you pay, value is what you get." Taskmaster advocates for valuing investments based on personal assessments rather than market prices. He underlines the volatile nature of cryptocurrency prices, stating that prices do not always align with the underlying value of assets.
Taskmaster discusses the strategy of focusing on long-term investments in robust projects during bear markets. He suggests leveraging opportunities to accumulate more assets when prices are low, thus emphasizing the importance of a long-term perspective in weathering market downturns.
One key point Taskmaster highlights is the unique advantage of cryptocurrency investments during bear markets compared to traditional markets. He explains that unlike conventional assets where the number of shares remains constant in a downturn unless additional purchases are made, in the crypto space, individuals can accrue more tokens through activities like staking, thus increasing their holdings even in a bear market scenario.
Furthermore, Taskmaster talks about the importance of continually adding to one's cryptocurrency positions during bear markets. He advises focusing on the quantity of tokens held rather than their fiat value and encourages a disciplined approach to accumulating assets over time.
In conclusion, Taskmaster emphasizes that the key to navigating bear markets in the crypto space lies in maintaining a disciplined investment approach, focusing on solid projects, and having a long-term perspective. He differentiates between investors who rely on crypto for their livelihood and those who can afford to hold through market downturns, offering tailored advice for dealing with bear markets based on individual circumstances.