We thought that the slight recovery of the market in the past few days is the start of another bull run for most of the coins but here we are again with another unseemingly dip in which we will see again a lot of FUDs that will only make things worse. Feels like we are given another chance to do something in this bearish market and take advantage of it. So how can we take advantage of this current situation?
It all comes down to these kinds of situation in which our trading skills are put to the test, anyone can make an easy money in the bull market but bear markets are where our skills are developed and our ability to make future profits is carved.
In a bear market, all coins are at its cheapest so it is a good chance to take some money out in the bank and invest it in a good coin but just because a coin is cheap doesn't mean it has value. DYOR on projects that are undervalued and has a potential to go ten folds or higher in the future when the market rebounds. Amidst the low quality or value of coins, analyzing one that has dropped a huge percentage from their ATH is a key.
This happens when most traders are impatient and the community has lost interest in the project even if their platform is still under development. They just want quick returns. So try and think about what you're doing so far and maybe you will realize that you are one of them and start avoiding doing these things in your crypto career.
Thanks for the quality input and question, nice to see for a change
I've been on a hold pattern for my coins/portfolio - but I have a fairly low risk portfolio, all things considered, and almost everything is still "up" from initial investment. Given the bear market, I think I agree with your 3rd paragraph, in that it's a solid time to re-invest some extra money into your portfolio, particularly if there's a certain coin or two that you have been continuing to follow that you think still has a lot of potential.
For me, that's enjin. I invested in at 2c, and it's still hovering around 10c. Not only that, but I continue to see partnerships forming and further establishing of the coin and use-case scenarios. That's a real positive for me, that even in the face of the bearish market, the developers and team are still progressing forward. Like you said, once the market starts to rebound, a lot of coins are going to rebound very strongly. I think the strongest coins will be the ones that found application even throughout the dips and drops of the market in its current state.
Again, thanks for the quality post!
If I may ask, are you specifically doing in this market? What's been your strategy?
