SHOULD YOU BUY OR SELL ALL OF YOUR CRYPTO ALTCOINS NOW?! MILLIONAIRE IN A BEAR MARKET | CRYPTOPRNR

 

 

We are currently in a bear market and cryptos are in the red. Some cryptos have already lost up to 80% of their value. However, this is not the end of crypto. It's just the beginning, and it's usually in bear markets that many millionaires are created. So, if you want to profit from crypto and become the next whale, now is the time to act, but safely. You need to find a way to protect yourself from this bear market while increasing the value of your portfolio. That's why we made this video.

So, in this video, we are going to share with you, the 6 ways to survive the crypto bear market, while increasing your income.

Watch this video till the end because the last method is the one used by the whales to stay safe whatever the market conditions.

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Now, let's get started.

The first thing to do in a bear market is to stay calm and assess your options.

Whether you see the bear market as an opportunity to buy the dip or find falling crypto prices a bit too stressful to handle, always try to keep your calm and assess the situation objectively. Emotional decisions are the ones that you will most likely regret down the road — especially if you’re trading.

First, start by asking yourself why you are invested in crypto in the first place. Do you believe in crypto’s long-term success and want to tap in on the many opportunities that it could bring along? Or are you just here to earn some quick bucks doing short-term trading?

The answer to this question could be your stepping stone to figure a way out of the bear market unscratched.

Then, don’t try to time the bottom.

Nobody — absolutely nobody — can accurately predict the bottom. You could study technical and fundamental analyses all you want or listen to experts, but at the end of the day, you may still have to rely on your gut feeling while trying to time the bottom. And as you will probably agree, gut feelings are not much of an option if you’re looking for strategies to navigate a crypto bear market, or worse even, a crypto winter.

You may buy at what appears to be the bottom at a given time. However, the price could further drop. And if it does drop, you will have to sell it again to have your next shot at timing the elusive bottom. More often than not, this strategy will only cause your wallet to shrink. Speaking about a wallet, if you want to survive the bear market and continue to increase the value of your wallet, there are many techniques that you should use.

 

This brings us to the third way to survive the bear market which is Dollar-Cost-Averaging.

Dollar-cost averaging, or DCA, is arguably the best strategy that is proven to have worked exceedingly well even during the toughest of bear markets. It is a simple but long-term strategy where you continue buying small amounts of an asset over some time regardless of the price.

For example, a DCA schedule will have you investing, say, $50 on bitcoin every week rather than investing $200 at once. You may make changes to your DCA schedule from time to time to meet your changing requirements.

So, continuing from the example above, suppose you started buying $50 worth of bitcoin every week three years ago. By now, you would have invested $7,850 in bitcoin over these three years. Now, using a DCA calculator, you will find that the total value of your investment would currently stand at $21,777. That’s a sizable gain of 177.42% percentage chain over three years.

 

Another way to increase the value of your portfolio is by staking. You may say it's risky but, when the going gets tough in a crypto bear market and your portfolio starts shedding value left and right, staking comes off as a good way to earn a passive income from your crypto stash. Staking basically refers to the practice of locking away your coins on a proof-of-stake (PoS) blockchain for a period of time and being rewarded for it.

The best part about staking is that it increases the size of your wallet even in a bear market. That way, when the bull market resumes, you start with more than you had previously.

Besides, staking also lowers the possibility of panic selling because your fund is securely locked on a blockchain.

 

Another thing to consider is to avoid shorting in a crypto bear market.

Shorting is a technique traders use to profit from falling crypto prices. That should ideally make it an excellent fit in a bear market when price drops are a common occurrence.

However, you would find most experts advising against shorting bitcoin and other cryptocurrencies because it could potentially lead to unlimited losses or liquidation of your position. This is a fundamental problem with shorting and no amount of experience can prepare you for the rude shocks when things go bad.

When you buy a crypto, you can never really lose more than the amount you have invested. For example, say you have purchased BTC worth $100. So, the maximum you could lose from that investment is $100. On the other hand, the potential gain, at least on paper, could be limitless. Think of a scenario where the BTC price increases so much that the $100 investment returns $500, $1,000, $10,000…..and so on.

It’s just the opposite with shorting. If you short a coin at $100, the maximum you will earn from that trade is $100. However, if the price of the crypto starts increasing and the uptrend continues, your losses could pile up indefinitely. And if you short using margin, you will have to keep paying the interest charges on top of the original loss for as long as you choose to keep the position open.

 

#6. Avoid leaving your crypto on exchanges.

And the last way to survive this bear market is to avoid leaving your crypto on exchanges.

Like they say, “not your keys, not your coins.” This is applicable in pretty much any scenario involving a centralized, custodial crypto exchange. However, the risks of irretrievably losing your funds stored in these exchanges become even bigger during a turbulent bear market.

Consider what might happen if there was a sudden market crash? Billions of dollars would be wiped out from the market, causing many exchanges to end up insolvent.

Always opt for a non-custodial wallet app or better still, a tried-and-tested hardware wallet to have full control over your crypto stash.

Have no doubt in mind that as an investor or a trader, you’re bound to lose money occasionally. A 100% strike rate is practically impossible, no matter how seasoned you are in the game. However, by following the strategies discussed above, you will significantly reduce your chances of falling prey to crypto bears. Alongside, make sure to stick to the other basics such as always using stop-losses in case you are trading.

If you want us to make another video to bring you more tips on how to survive the crypto bear markets, feel free to let us know in the comments.

Don't forget to watch our latest video on the craziest predictions for the crypto market. The link is in the description.

We hope we were able to provide some value and helped you to move a step ahead in your crypto journey Be sure to check out our Crypto Brand called Cryptopreneur, get yourself the highest quality Crypto Merch available right now on the market, and make sure to subscribe so that you don't miss out on any of our content. Till next time, Goodbye.