So what am I up to during the bear market? Well not posting on here, until now at least. Life has been busy, but I'm still bullish on crypto long term and this bear market is an exciting opportunity which could be life changing if approached in the right way.
Fundamentals we mustn't forget:
1) Don't invest more than you can afford to lose
2) Not Your Keys Not Your Crypto - keeping your crypto off exchanges and in private wallets with appropriate security is the safest option
3) Not all projects will survive the bear market, we've already seen the collapse of LUNA, there will be more that will not survive
The focus for most investors during the bear market should be accumulation. Don't worry about the $ value, worry about how many sats/coins/tokens you have, if you believe in the projects you are invested in then don't focus on what your previous purchases are now worth, look at how many more you can accumulate whilst prices are low. For those PoS coins, on chain staking is a great way to increase your number of tokens without any additional expenditure. Staking Rewards.com is a great way to look at options for the coins/tokens you own, or are considering investing in.
BTC and ETH are likely to be the safest bests in terms of long term stability, but selected alts may give you a higher % gain, although at higher risk. What we don't know is how long this cycle will last and how low things will go before we hit the bottom. Timing the bottom is almost impossible so DCA (dollar cost average - regular purchases regardless of price to average out cost) is the best way to invest over time.
So what are my picks?
BTC & ETH, obviously
Harmony ONE - a recent hack of the ETH bridge means a lot of people within the ONE ecosystem lost money and some are concerned about the project long term, its a gamble but the fundamentals of the system are good and the current price is excellent, a risky play but may be worth it long term
CRO - Crypto.com has spent a huge amount of money on advertising, and has made some unpopular changes to its crypto debit cards, and staking rates, but in light of recent high profile failures, this could turn out to be a smart move in keeping themselves solvent and the CRO token like all crypto is at a low price compared to ATH. Buy CRO on Crypto.com and transfer to the defi wallet to keep control of your keys and stake for around 12% interest, or use the various defi apps for higher risk but potential higher returns. I'm planning a bigger write up of crypto.com soon as I have been using them for over a year now.
Hedera Hashgraph HBAR - The hashgraph ecosystem is very interesting and seems to have a lot of potential use cases. Risky but could pay off during the next bull cycle.
Radix XRD - Huge potential in the world of defi as they claim to have solved the trilemma. Others have claimed this too, only to be let down further down the line, so approach with caution, but could be a good one to get in early. Limited availability on exchanges has probably hampered its growth so far, eXRD on ETH is more widely available but needs to be bridged to its native chain for staking incurring gas fees, personally I have bought on Bitfinex , which you can access without KYC if you transfer coins in from elsewhere (such as XLM for low fees) then swap to USD or BTC before purchasing native XRD which can then be sent off to a private wallet for staking. KYC is needed to deposit fiat but not to trade.
Some other alts I'm monitoring and making smaller purchases whilst prices are low:
ADA
LRC
KAVA
SOL (I don't like this long term but I think we will still get another run up in price with the next bull market)
ALGO
Disclaimers & Copyright:
Any links in my posts are referral where possible so if you sign up and use the site via those links I get something, or we both get something out of it, if there is no referral link available it’s just a straight link to the site. I really appreciate anyone using referral links as it supports covering my time writing these articles. None of my opinions or recommendations are based on whether a referral link is available and I have received no other incentive to write any of these articles, they are a true representative of my own experiences, good and bad.
This is not financial advice and I am not a financial advisor. Do your own research before making any investments.
All pictures/photos used are taken or created by me, and are copyright. Please contact me for purchase or licensing.