Topic: What to do in a bear market - page 4. (Read 767 times)

These variables are worse than the beginning of Covid when BTC dumped and them started the road to ATH, all these events together create a bad enviroment for all of us, but I think if the war ends, at least some money will start to move again and the world will start again to have some optmism, and then end of covid and pandemic situation will slowly get us to a btter place again

But to answer the question of OP, I survived the bear market of 2018

I was a miner in 2017 to 2018 and I saw the crash, I didn't had a decent plan and at the crash I had a lot of coins, a bag holder 
After the crash I started to think better, and never sell any coin mined, I sold my cards due to my electricity costs, I had BTC and ETH, I put on cold wallets and waited.
In 2020 I saw some opportunity to mine again, I bought some cards and started
At ATH I was able to sell some coins, not all, but now I have cash to survive for some time

I know some things are easy to say or repeated a lot of time here, but it's true and can help in a bear market

1 - If you have BTC, don't sell anything in a bear market, unless you need to buy food to survive
2 - Stay only with coins you believe it's prepared to survive for a long time, for example ETH last time, like BNB now
3 - If your electricity is cheap, you can continue to mine, but let's say you have 10 cards, you can sell 5 and stay with 5, you will be prepared for both scenarios
4 - If you have spare money, or the cash of your sold cards, you can start to DCA, buy some BTC every week

Eventually prices will rise again, and you'll have coins to sell and profit, but if you sell in a bear market it will be hard to profit in a bull market, you will not have coins.

Wait for the death cross, I don't know if you've ever heard about this, I am expecting this death cross to happen by August, BTC will dip to a new all time low since 2020 and that's the time you should start buying coins, most GPU's aren't back at MSRP yet so the best answer right now is doing nothing, don't do anything.

My answer to your question is... it depends!

We are currently in a worrying and unpredictable scenario.
Well, there are several variables that need to be analyzed, because with the war between Russia vs Ukraine, cases of COVID increasing and inflation all over the world, this can interfere with the values ​​of cryptocurrencies and video cards.

If in fact Ethereum migrates to PoS, there could be a massive sale of video cards, because a significant portion of miners, mine ETH today.

If the miner already has some video cards, the kWh value is cheap or the person already has a photovoltaic panel, I believe it could even be worth it.

But (in my opinion), if some of these variables that I mentioned in the above paragraph are not reached, I believe, buying cryptocurrencies is a more sensible option... Not to mention that cryptocurrencies have greater liquidity than video card. In an emergency, if you need money quickly... I have no doubt that selling your cryptocurrencies will be much faster and more practical than selling your video cards.

Make fractional crypto purchases... but be very careful, because unfortunately there are great chances that we are currently in a FUD

I would buy cheap cards,let me make you an example,just some months ago when we were still in bull market,mainly October 2021 where we had the last ATH of Bitcoin a friend of mine bought a Rx 590 card for 400 EUR which I was strongly against for the hash rate and power consumption this card gives.Now this card costs 100 EUR or even cheap used from mining rigs that people here want to sell,this would be a good buy if you have cheap electricity cost to run your mining rigs.Also now the Rx 470/570/480/580 cost really cheap here the 4 GB versions and you can use them to mine ETC if you as I said have cheap electricity costs.

The only time I would suggest buying coins is if you do not want to have the burden of running and managing your rigs,you just want to buy coins with the money you have allocated for the mining rig and keep them in your wallet waiting for the next bull run,that is the only time I can agree to buy coins.

buy coins but we are not in the bear market yet, bear market is at least 75% btc crash from top, so btc top = 70k, 75% crash btc = 70k - 52.5k = 17.5k, so btc will crash a lot yet, this is still a pre bear market because it crashed below 28k, in all bull market and pre bull market, btc never crashed below 28k, pre bear market would be hit when btc crashed below 28k and it happened few weeks ago, btc crashed to 25k. So either sideways a bulltrap or going to hehell at moment, any rise is a bulltrap, the ideal price to buy btc is 15k or below, btc is still over priced, miners are selling, sheeps are buying. The only time to buy btc is when is below what miners are paying to mine one btc because in the bear market fiat is king. So is normal for miners to sell their coins at loss to get fiat to pay their bills, bull market is normal for miners to sell coins for a lot more than they cost to mine them.

In a bear market should one be buying graphic cards or one should be buying coins instead?.