2022 will be remembered as a bloodbath of a year for cryptocurrencies. As we approach the end of the year, a lot of coins are down almost 90%. This has created an environment of intense FUD, which is an acronym for fear, uncertainty and doubt. We all need to realize that markets work in cycles and things can’t always keep going up. This current bear market, although brutal may be just getting warmed up, or we may be in the middle, no one knows. 

Bear markets provide opportunity

Rather than looking at a bear market negatively, look at it as an opportunity to load up on coins that you feel have great potential for the future. Slowly buy into coins rather than make one big purchase as we don’t know how much further coins have to fall. Take this time now to do deep research on cryptocurrencies you are interested in so that you are confident when you pull the trigger on investing. Bear markets provide the perfect time to pick up coins on the cheap.

Chill Out

One only needs to spend five minutes on the cryptocurrency sub in Reddit to see how out of control the FUD there is. Every second post is about crypto heading to zero and how every exchange is going to go bankrupt. Times like these, it’s best to limit your time in subs like that as it just increases nervousness in general.

Take time to relax, spend time with family and limit the amount of time you spend checking charts or portfolios. Your health and mental wellbeing are far more important than the price of cryptocurrencies. Never invest more than you’re willing to lose.

Conclusion

We have no idea how long this bear market will last, some say until the next Bitcoin halving in 2024, some say next year, others say 2025. The point here, is to see the chance to use this as a positive time to load up on heavily discounted coins and avoid the toxic cloud of FUD that’s suffocating this new emerging tech.

Good luck to all and also, this isn’t financial advice, you do you.