Hi HODLers, the crypto winter is almost here, and that means the bears are officially taking over the market as the popular mantra by Billionaire Warrant Buffet goes “Be greedy when others are fearful, and be fearful when others are greedy”
The bear market is what defines resilience, mental strength and the ability to see good greens and gains even in the reds
In this post, we will touch on the top 5 things to do in a bear market, including how to buy the dip even when you’re out of fiat
1. Do nothing, ignore Crypto and focus on your normal life.
Watching dipping charts, declining revenue, constant FUD and continuous sidelines during the era of the bears can be depressing, therefore go about your regular life, get a hobby going, stay connected to family and go on with your normal life, and just leave the market to do its thing
Pretend as if you have no crypto investments and just forget about it until the market recovers and things begin to look good once again
Sometimes the best strategy is to do nothing
2. Find a way to earn more Crypto
Crypto winter is the best time for accumulation, as every coin is pretty much on discount sale, you’d be getting them low and cheap
Therefore, if you can have time times, skills and expertise start taking up crypto jobs. Most projects in the space are constantly looking for marketers, developers, influencers and you start earning in the native tokens of the project or in a stablecoin you can HODL and convert to coins you’d like to accumulate
Another option is to get active on social media and crypto publishing sites such as noise.cash, read.cash, Trodl, Publish0x, Steemit, Hive, etc and earn crypto as you await the bear season to be over
Most coins and tokens offer the ability to stake your dormant coins in your wallet and earn interest in the native token, you should also explore this option as you wait
3. Reallocate your capital to more stable and sustainable Investments
During the bear market, a lot of projects with no proper fundamentals, or problem-solving strategy will fall off and completely be wiped out, with most never making a recovery to see the next bull run
It is therefore very prudent to analyze your portfolio and convert shitcoins and projects with no fundamentals into a more stablecoin and HODL
4. Borrow against your existing assets and buy more of your favourite coins.
Are you out of fiat, and don’t have any shitcoin to sell to buy any more of your favourite coins at a great discount,
Did you can use your existing crypto assets as collateral on crypto lending platforms to get a loan. YES you can
This is a perfect method of buying more of your favourite coins/tokens without having to actually sell your existing stock
5. Dollar-cost-average all the way down, if you have enough Fiat
Buy the dip isn’t just a mantra, it’s a way to average your cost and bring your closer to a lower price
If for example, you have $10000 to invest, instead of buying the lump sum at a go, in a bear market, buying the dips and lowering your cost is an effective means
You can choose to buy 1000$ each week or month depending on how long you think the bear market will last
The bear market offers a good opportunity to accumulate your favourite cryptocurrencies at unbelievably cheap prices so be sure to take advantage of it in the most strategic way in order to profit and gain from it.