How to deal with bear markets - page 5.

semobo

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Quote from: Lee_Mire on June 26, 2021, 04:59:58 AM

The market is once again showing its ugly side and we can potentially slide into an extended bear market. It can be so draining watching charts all day and the negativity can seriously ruin your productivity, relationships and even your health. If the bear market is getting to you try following these steps.

1) Secure your crypto - This is the first and most important step. The bear market might last a few years and you want to be securely hodl your coins through this long period. You need to decide on how you want to store your coins.

2) Decide DCA strategy - The best way to win big in a bull market is to have enough coins to sell. You want to load up during a bear market and off load into a bull market. The dollar cost average strategy is the least stressful way to invest in crypto. It means buying a set amount of coins regularly. Learn how to DCA and pick on the amounts you want to do. Try to automate your DCA so it sort of happens in the background.

3) Uninstall all the crypto price apps - During a bear market the worst thing you can do is regularly check the prices. You can be having the best day of your life and one look at the price will ruin it for you. Uninstall those price alerts and try to avoid checking the price.

4) Avoid crypto twitter - CT is worst place to be during a bear market. Everyone bashes each other and the memes are not as funny when the price is tanking. Overall its a sad place to be during a bear market and it will negatively impact your mood.

5) Block all the haters - We all have a few people who can't stand to see us happy. It could be a "friend", a family member or even an ex. Block these people and don't give them the opportunity to laugh in your face during heavy sell-off.

6) Do something productive - This is one of the most important steps. You have to do something productive with your time otherwise you will slide back into the negative feedback loop of the crypto bear market. Build something, work on a project, learn new skills, take up new hobbies, travel, etc. Keep yourself busy and you will probably forget all about crypto until the next bull cycle when you check your wallet and your minted!

7) Enjoy life - And always remember life is too short. Enjoy it.

The overall goal is to try to push crypto out of your mind during the bear market. You cannot control the price action and market. When the market is ready it will pump again, so why wait doing nothing? Do something in the meantime and check back every now and again. You will be happier, more productive and possibly wealthier.

Nice tips though, it will give an eye opening for someone who is confused now about what to do when the bear market hits them unexpected but this is actually suitable for a long term holder but as an investor there is any other way we can tackle this?

Yes, we can by doing day trading which is risky I am not denying that but when someone took crypto trading as their career then they need to adopt the situation then make strategies according to it.

davis196

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This list isn't about handling bear markets.This is more about hot to do cryptocurrency trading in general.
I assume that this list is created for crypto traders,who don't want to sell their coins during a bear market.
There's nothing wrong with selling your coins during a bear market,especially if you know that the price will go down even further and you will have the chance to buy at a lower price.

Quote from: nhaila on June 28, 2021, 05:12:05 PM

In bear 🐻 market, I stop all my trading approach and stop my opening wallet of investment coins. I only buy some top losser coins which have listed top 100 ranked ok coinmarketcap.

What?So you want to buy some shitcoins?I don't get your idea,but you are free to invest in whatever you want. Grin

Lakai01

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Social media isn't the toxic ones, but it is the people that uses it.

It has to be said here quite clearly that FUD is controlled and is used by whales in particular to be able to dominate the market even further. FUD has always existed, even without social media. Nowadays, however, social media such as Twitter and Facebook make it possible for news to spread much faster, but they are certainly not the cause of FUD.

justdimin

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Quote from: Lee_Mire on June 26, 2021, 04:59:58 AM

The overall goal is to try to push crypto out of your mind during the bear market. You cannot control the price action and market. When the market is ready it will pump again, so why wait doing nothing? Do something in the meantime and check back every now and again. You will be happier, more productive and possibly wealthier.

You sound like too psychological rather than being technical with respect to crypto trading and its bear markets. If you take the case of long term holder, they must be already into practices of what you have mentioned here. Because, we all know that bitcoin market will surely bounce back from any kind of severe dump but the concerns are only on traders and new investors.

Traders may not have big options to deal against bear market like accepting losses and exiting at stoploss levels or might need to convert their positions into long term holding. Same applies for new investors as well (all these are possible when people trade bitcoin and not any shitcoins).

boyptc

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Quote from: Shasha80 on June 28, 2021, 06:01:58 PM

Quote from: boyptc on June 28, 2021, 05:23:55 PM

Blocking all of those haters is effective. Just as what I've experienced in social media, I've blocked or unfollowed those people that only shares hate and negative news about the market.

We don't need them in our lives.

Actually we are all capable of dealing with a bear market that occurs, but sometimes we are affected by the negative things we get from other people.
Therefore FUD is the strongest reason that causes the market to crash, I agree that avoiding people who usually share negative things must be done.
Choosing a positive environment is the most important thing, because humans are very easily influenced by the things around them.

We can, I didn't say that we can't. But if there are distractions that we're seeing through different platforms like social medias, we're the one to take action on it.

And blocking and unfollowing those people that have nothing to share but only negative thoughts about the market and they're mocking us, you just block them.

NewRanger

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Quote from: slaman29 on June 29, 2021, 12:12:54 AM

Quote from: nhaila on June 28, 2021, 05:12:05 PM

In bear 🐻 market, I stop all my trading approach and stop my opening wallet of investment coins. I only buy some top losser coins which have listed top 100 ranked ok coinmarketcap.

Your comment is one of the shortest here and yet actually probably one of the most useful. Stop trading, no strategy is going to work, and no amount of checking your wallets is going to change anything.

Maybe buy the top losers (but also they should be actually good projects) in the hope they recover. Take ETH for example when it crashed to below $100!

stop trading and quit from market for a while will help us to recovery our mental and psychology, many traders be stress when suffer loss. when this happen, they could not controll emotion and maybe will open new transaction again without any analisys. It will make things worse and lose more money. Not everyone could make this wise decision , except whom able controll their mind.

Ararbermas

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To make the story short "take a vacation" and came back when the market were totally fine and there's no people bashing each other around the internet because of the different views when it comes the situation..
They can really give an headache.. So much better to leave and find a quite place to refresh our mindset because indeed market still unpredictable so much better to take a rest and go for a vacation. Lol

slaman29

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Quote from: nhaila on June 28, 2021, 05:12:05 PM

In bear 🐻 market, I stop all my trading approach and stop my opening wallet of investment coins. I only buy some top losser coins which have listed top 100 ranked ok coinmarketcap.

Your comment is one of the shortest here and yet actually probably one of the most useful. Stop trading, no strategy is going to work, and no amount of checking your wallets is going to change anything.

Maybe buy the top losers (but also they should be actually good projects) in the hope they recover. Take ETH for example when it crashed to below $100!

GreatArkansas

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Quote from: Lee_Mire on June 26, 2021, 04:59:58 AM

6) Do something productive - This is one of the most important steps. You have to do something productive with your time otherwise you will slide back into the negative feedback loop of the crypto bear market. Build something, work on a project, learn new skills, take up new hobbies, travel, etc. Keep yourself busy and you will probably forget all about crypto until the next bull cycle when you check your wallet and your minted!

I can relate here, very true. When the bull market started last year, I quit my job and then most of my time after I quit my fulltime was in cryptocurrency so for me, it's good since I earn lot of profits doing different gigs in crypto market and 2 months ago I started doing some job related to my full time job before, which is currently I am part-time now, so I can't be stressed at all and just doing productive things while don't really affected about bear things of crypto.

chaser15

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Too much if we follow some method especially uninstalling apps etc. It wasn't necessary.

Just be ourselves. This is not the first time that a bearish trend hits the market.

Remain calm and try to have an activity outside the crypto market. Make ourselves busy as it's not the end if we see our portfolio gaining too much losses. Remember that we don't actually lose unless we hit that SELL button or decide to cut the expected more losses.

Shasha80

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Quote from: boyptc on June 28, 2021, 05:23:55 PM

Blocking all of those haters is effective. Just as what I've experienced in social media, I've blocked or unfollowed those people that only shares hate and negative news about the market.

We don't need them in our lives.

Actually we are all capable of dealing with a bear market that occurs, but sometimes we are affected by the negative things we get from other people.
Therefore FUD is the strongest reason that causes the market to crash, I agree that avoiding people who usually share negative things must be done.
Choosing a positive environment is the most important thing, because humans are very easily influenced by the things around them.

sheenshane

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Quote from: Lee_Mire on June 26, 2021, 04:59:58 AM

5) Block all the haters - We all have a few people who can't stand to see us happy. It could be a "friend", a family member or even an ex. Block these people and don't give them the opportunity to laugh in your face during heavy sell-off.

This is something new for me and that's right, you can also block all those social media influencers because they keep spreading FUD all the time and put in your ignore list and don't listen to them. They used us for their own benefits.

If you're always confused with the price and always looking into the chart, you may always think of cutting your loss which is what most common weak holders do. They think that they are in a trap and the market will not recover again, most likely this perspective was generally common on newbies or new traders.

Quote from: Hamphser on June 28, 2021, 05:29:34 PM

Im a scalper or day active trader ...

Ain't expert on day trading, when the market begun dumped, is that scalping really giving benefit? or rather hold your asset?

Hamphser

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Im a scalper or day active trader which means i dont usually mind on what would be the trend would be because as long it does move then i do make out money but of course not all days would really be a good day.

Scalping is really risky but very rewarding even just getting 5-10% gain on a certain day into your capital would already be considerable and of course profitability will be depending on how well you do play with the market.

Dealing with Bear market isnt easy specially to those people who had been caught in the dump.You would really be holding and it would really be testing
out your patience.

boyptc

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Blocking all of those haters is effective. Just as what I've experienced in social media, I've blocked or unfollowed those people that only shares hate and negative news about the market.

We don't need them in our lives.

electronicash

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you just need to take it simpler to deal bear markets just like the many traders do, they just want to hedge their money to stablecoins and then wait. there is nothing else to be done unless you wanted to keep coins with prices that are dwindling. Some are engaged in staking stablecoins to earn while the bear market isn't yet showing signs of retracing back up. that's one way to enjoy life.

stomachgrowls

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Quote from: Hypnosis00 on June 28, 2021, 05:00:30 PM

Quote from: Lee_Mire on June 26, 2021, 04:59:58 AM

7) Enjoy life - And always remember life is too short. Enjoy it.

The overall goal is to try to push crypto out of your mind during the bear market. You cannot control the price action and market. When the market is ready it will pump again, so why wait doing nothing? Do something in the meantime and check back every now and again. You will be happier, more productive and possibly wealthier.

Just keep calm, sit back, and relax. This could be working if you are just wanted to hold, not in trading.

Not necessarily we have to uninstall crypto apps because that helps us to monitor our investment. If we are really committed to hold our coins during the bear season, that will not be a problem even we still have those apps. What makes it difficult for us is we keep ourselves bothering by some negative thoughts which cause to panic. To make ourselves enjoying to other stuff makes a huge help to divert our minds instead of thinking our investment.

Not necessarily to uninstall because i do have that kind of behavior whenever we are really on a bearish market i do still continue on monitoring my holdings.It is just on how you do really handle up yourself on those sudden change in price.

You shouldnt let yourself to be get affected easily whenever what things do really happen in the market.People does have different handling when it comes to their emotions and actions taken on a specific situation or events.

Honestly, this is just really simple to say than done because not all would really be having the same level of control and discipline in mind
on various things that they do encounter.

nhaila

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In bear 🐻 market, I stop all my trading approach and stop my opening wallet of investment coins. I only buy some top losser coins which have listed top 100 ranked ok coinmarketcap.

Yatsan

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Dealing with the market is really a tough thing to do specially if you were just new in this industry and you have experienced such thing upon entering the market. But before hand you must know about the cryptocurrency's volatility that is natural in this market so we can expect certain ups and downs in no time. Dealing with the bear market is like also dealing with the bull market. You must strategize your funds into how you are going to handle it despite of the situation for the fact that there are also opportunities that can be gained from the bear market. You won't get panicked if you certainly know your coins in portfolio. Trust the process and just only invest into those you understand already and do not put all your money into one basket.

Hypnosis00

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Quote from: Lee_Mire on June 26, 2021, 04:59:58 AM

7) Enjoy life - And always remember life is too short. Enjoy it.

The overall goal is to try to push crypto out of your mind during the bear market. You cannot control the price action and market. When the market is ready it will pump again, so why wait doing nothing? Do something in the meantime and check back every now and again. You will be happier, more productive and possibly wealthier.

Just keep calm, sit back, and relax. This could be working if you are just wanted to hold, not in trading.

Not necessarily we have to uninstall crypto apps because that helps us to monitor our investment. If we are really committed to hold our coins during the bear season, that will not be a problem even we still have those apps. What makes it difficult for us is we keep ourselves bothering by some negative thoughts which cause to panic. To make ourselves enjoying to other stuff makes a huge help to divert our minds instead of thinking our investment.

BitTraderCute

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Quote from: Amejoaquim on June 26, 2021, 05:51:45 AM

Ya in this current situation i stop checking my investment because i'm a investor not a trader. So if i checked my portofolio dailly in this momment it just gonna give me bad mood and make me mad when i see my portofolio drop, LOL.

that's good mental and psycology controlling dude, it will save you from panicking. as long term investors you doing good thing, didnt care about current price altough we see our portofolio value decrease alot. Long term purpose we still bullish trend and now we are in correction phase , so better to accumulate not to sell.

Topic: How to deal with bear markets - page 5. (Read 844 times)