Topic: How to deal with bear markets - page 7. (Read 841 times)

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.