Dear Readers,
We all know that the Cryptos are associated with high volatility and it is too risky kind of investment in our portfolio. Those who enter into the crypto should have various comprehensive skills to make our investments reap in good return.
There would be mixed feeling of joy, happiness and satisfaction in the bull market which we have all felt and enjoyed. But contrary to this, the feelings of frustration, anger and depression are all associated with the bear market.
As the bear market almost rule the most of the time throughout this year, let's introspect the below mentioned most common mistakes that we do that put us more difficulties and to weather the bear market feelings in a concentrated way.
1. Panic Selling
This is most common mistake that we all do. As we do the sell in Bull market with mini profits, we all sell our full portfolio with high degree of panic. But those who invest wisely and resist with the bear market would gain much and get a very good profit. If we invest in potential coins, then in the bear market, we should use the opportunity to make the average which is the popular technique called Dollar Cost Average (DCA).
2. Seeing the Portfolio Often
At the bear market, not to mention, the value of our portfolio would be going down. The habit of seeing the portfolio often would give more frustrations and we would take undesirable decisions in the buying/ selling at haste. Hence, it is better not to see the portfolio often.
3. Finding the Bottom
In the bear market, we should always wait to find the bottom. Much of the time, we could not find the bottom or the ideal price to invest. Hence, it is a general advice that we should invest in portions according to our risk potential for the rewards.
4. Capability to Sustain
Most of the time, due to our erratic plan, we often could not sustain in the bear market. But the best investments that bring higher returns are those which we have invested in the bear market. So, we need to build our investment a lot in the bear market and invest wisely to make rich.
Let's practice this concepts and hope this would be helpful for all of us to make the desired profits!