What's up guys: it's the cryptobat back with another blog. Today 2/4/2022 there has been a lot of bullish action in nearly every big cryptocurrency, here is a list of some of the tokens that did well today.
Token list
(All the information about token increase came from CoinGeko.)
Bitcoin, the top dog in the market, went up an astounding 11.9%
Ethereum, the number two token went up the same amount as Bitcoin 11.9%
Other notable coins like Avalanche, Solana, and Binance coin, went up 14%, 11.1%, and 7.7%, respectively.
Ps, that token I wrote about for coin of the week, Spore, went up an impressive 37.4% since last week.
So the question on everybody's mind is, is this the end of the bear market and the beginning of the next bull market? Or is this just a trap before it plunges further down? Now while no human knows the ultimate answer, there are good clues on the charts that it will go up, and that this may be the end of the bear market. If that is the case, some people might be asking what do we do next. Here are a few good options.
Hodl
HODL is an acronym for, Hold On for Dear Life. This strategy is pretty much just holding your assets and not selling.
Buy the Dip
This strategy is to buy right when an asset dips or right when it starts to go up.
Lockup
This strategy involves locking up assets for a limited time to earn interest on the said asset.
Swap
And last but not least you can swap from one asset to another, one way to do this is to swap from one token that's not performing very well, to a token that's performing very well or a token that you think is going to perform well. The safest thing to swap is a stable coin like Tether into a nonstable coin like Bitcoin. However this still has risks, for example, the asset can crash right after you swap into it. At that point, you have to have diamond hands and you have to HODL. But if it's truly the beginning of the bull market you could receive massive gains.
Bear Market
However, if we do end up seeing a bear market come into play, my best strategy for you would be to either HODL or Lockup.
Conclusion
Popular Cryptocurrencies had big bullish moves today. Nobody knows for sure if this is the end of the bear market or not. However, if it is you might want to consider one or more of these options: Hodl, Buy the Dip, Lockup, or Swap. If we do see a bear market I suggest HODLing or Locking up.
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