During the last few months, there is no denying that we are in the deepest part of the crypto bear market. Even the most optimistic of us, have finally come to this conclusion. Investing in Bitcoin and crypto while the market is skyrocketing upward is one of the greatest feelings you will ever experience. The euphoria and adrenaline are on another level. Each day waking up to your portfolio being up hundreds or thousands of dollars. Dreams begin to pop up in your head of maybe buying that new item you’ve been wanting forever, looking at new houses, and maybe even finally being able to quit your job.
As great as you feel during the bull market, it is exactly the opposite during the bear market. Waking up every day to your portfolio being down significantly. When you think it’s not possible for the price to go down even further, it does the unthinkable and drops even more. All hope is drained from the market, and people begin to cope with anger. It’s this feeling that leads many to feel that the crypto market will never recover. That it is better to sell their crypto even at a significant loss, while they can still get something for their crypto.
The constant sadness, stress, and anxiety that is often too much for even the best of us to deal with. Causing many people to exit the market early. Time moves at a blistering fast speed during the bull market, but seems to move at a snail’s pace during the cold winter. The most important factor in determining your success in this market is your ability to survive through the ups and downs of multiple cycles. Surviving is the most vital thing.
But if the crypto bear market is so stressful and moves at such a slow pace. How should you pass the time?
Focus on You
This is a time that you should be focusing on yourself and improving. While prices and profits are soaring, they can be a huge distraction. Making it difficult to accomplish anything. Now that the market is much quieter, now is the perfect opportunity to get things done. During this bear market, these are a few personal things that I’m focusing on.
I’ve been putting in a lot of effort to become more well-versed in the entire crypto market. Learning and researching projects that I knew very little about before. Experimenting with protocols and learning how to use them better.
I also have been working hard on developing my other income streams and brands. Putting a lot more effort into my crypto writing and trying to build it up. While I am not a crypto YouTuber, it is important to note that many of the biggest channels today were created during the last bear market. While I never imagine my writing will ever take off to anywhere near that level. It is my hope to become a significant income stream for me, and maybe someday become my only job.
Accumulate
You have probably heard it a million times already, but the best time to accumulate is during the bear market. While there is no guarantee that the cryptocurrency you buy will ever fully recover. However, if you are able to accumulate a good amount of a coin that does recover well, it’s a great opportunity to grow your wealth.
The truth is that wealth isn’t created during bull markets. It is created during bear markets. The bull market is when we finally are rewarded for the hard work that we put in earlier. Those who can maintain conviction and buy into great crypto projects will be very successful in the future.
Go Away
As I mentioned before, the most important thing in crypto is surviving the market without selling prematurely. We don’t want to buy high and sell low. Sometimes the stress and hopelessness of bear markets can make this task much easier said than done.
Sometimes to prevent ourselves from selling, the best thing we can do is simply to go away for a while. Taking a break from the market. Stay off crypto Twitter. Don’t watch the videos on YouTube. Delete the price portfolio apps from your phone. All of these things can significantly help your stress level. Get back to the other hobbies that you enjoyed before entering the crypto market. Watch movies, go outside, and spend time with the family. Reset your priorities to what is the most important for you.
Then when you feel the time is right, come back to crypto. For many, this might be the best decision to pass the time during bear markets.
I believe that these are the three most important things to not only survive and pass the time during the crypto bear market. But, also to ensure your success in the future. Personally, I won’t be going away from the market and will instead be heavily focusing on building my side incomes and accumulating as much as possible.
How about you? What are you doing to pass the time during the crypto bear market?
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