One of the major pains of crypto is the bearish period, and the worst part is that no one knows how long it will take. In addition to that, no one knows how low the tokens will go.
It is a continuous pain to go through, especially if you’re only getting started when the bears hit. It is like entering a losing streak when you start wagering on MLB odds.
It is undoubtedly daunting for anyone. However, there are ways to go through the period, and when we are out of the waters, you’ll start reaping the gains. In that case, we’ve put together five expert tips to help you get through the bearish period when they come around. Without wasting time, let’s get into them.
Buy the Dip
The first thing you can do whenever there is a bearish run is that you keep buying to increase your hold. If you have extra to splurge into the crypto market, you can look for some interesting projects to buy into.
Fortunately, the crypto communities available are filled with other exciting updates that’ll help you identify new projects entering the ecosystem.
Aside from that, buying the dip will give you the chance to start close to the resistance point of your favorite coins. And as a result, you can make lots of gains once it hits peak price again. Therefore, if you have enough extra cash to invest, look for interesting projects, or you can simply increase your hold for a particular coin.
Invest or Stake Your Coins
You can safeguard your coins from dips by investing or staking on the exchange platform you use. This will help you earn money even as the market is dipping and in the bearish run.
You can set a period for this to cover the bearish period, and if you’re lucky, you’ll get out of staking or yield farming once the market trend is bullish.
Although staking or other investment forms do not offer high gains, it is great for newbies to protect their assets. That way, you are not too hit by the dwindling market, and as long as you invest your coins, you’ll keep getting returns on your investment. At the end of the day, you can enjoy an exciting run.
Follow the News
You can get more information about the dipping market from other crypto news to help you understand what is going on and know the severity. Many experts even analyze the bear run to see how long it will take and what needs to be done for the market to get back to its bull run. As a result, you’ll if you should get out while you can or hold your stance.
Aside from following expert updates, you might also want to check what other interesting news is available. With this, you can decide whether you want to buy more dips, sell your assets, or simply wait for things to start going green. It is good to note that there are no certainties, and the dipping period can take time or be short.
Hunt for Airdrop and Bounties
Undoubtedly, it is hard not to lose money whenever the bearish period comes around, which can spark some negative emotions. In this case, you should find a way to ensure that you can improve your asset level and gain more money, even when these digital assets are dipping. As a result, you might want to start looking for new projects.
Fortunately, airdrops do not reduce, and you can always hunt for bounties. With airdrops, you’ll get free entry into any project, and even when there is a bear run, you won’t lose any money, and you’ll make a profit when there is again. Interestingly, you’ll have access to these updates when you follow different crypto communities.
Hold on for dear life! During a bear run, it is easy to be tempted to get out of a position as you’ll keep seeing your money drop. However, the top crypto individuals out there understand the importance of patience, and if you can wait for the storm to blow over, you’ll start making gains.
Therefore, you should know that you can’t escape a bear run before entering crypto. So, you should be prepared to stand your ground. We advise that you have a period you want to HODL for to ensure there is a sense of purpose and you’re not simply throwing money to the wind. Once it’s time, you can decide what you’ll like to do with your assets.
The crypto market is tricky, and if you don’t understand how it works, you’ll lose more than you gain. That is why it is important to take your time learning about the ins and out of the market before deciding to buy. But know that there is a bear period; there is also a bull period. How you handle your loss is what will determine your gains.