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Five Things that you Should Do When Crypto are Crashing Down

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Written by   41
2 months ago

If we will describe Bitcoin cash and other cyptocurrencies in one word. How will you describe them? Its "volatility."

As we can observe in the past years, crypto prices increases and then decreases. This scenario is often described as bullish and bearish market. In this year the price of Bitcoin Cash decline tremendously not only Bitcoin Cash but the other cryptocurrencies as well.

Since we know that cryptocurrency are volatile we need to face the reality that their prices are not stable. So when bullish happened its an edge for us but when bearish happened how can you handle yourself? How can you manage yourself?

To properly manage ourselves during bearish market here are the five suggested things that we should do. I know some of us are scared especially for those who invest and buy their favorite crypto. Some of the people is also happy, why? Since during bearish market they took this as an opportunity to buy their favorite crypto in a cheaper price. So without further ado here are the things that we should do when cryptocurrencies are down.

Breath and Keep Calm

First Don't panic, stay calm and cool.

What are you thinking right now?

Do you want to sell your crypto assets? or Do you want to buy more crypto assets in a cheaper price?

Either way the first thing that you should do is to think and stay cool in this situation. Its not a good attitude when you cannot handle your emotions during bearish market. In this situation you need to reflect in the situation, what's your purpose why you entered in trading cryptocurrency.

Disguise is yourself

Act as if you are dead.

During bear market I read an article about this, you need to play dead as if that you have no idea about what's happening. If you fight back and if you panic and carried away by the situation you will become "lunch of the bear" its better to play dead if you do that you will save your assets from financial loss.

Take this as an opportunity

Good attitude plus good values.

When cryptocurrencies are down its an opportunity for all of us. The price of most cryptocurrency are cheaper and you can take this opportunity to invest. But invest only what you can afford to lose.

History can be a great teacher.

Track the records of bull and bear market.

During this time take this opportunity to do some research about cryptocurrencies. You will find out that most of the cryptocurrencies fall by 10% or more every year. For that convinced yourself to get used to it as bear market is a common scenario in trading.

Consult your financial advisor or any expert about cryptocurrency

Expert's advice

If you want to feel at ease with your emotions. Try to consult your financial advisor or a friend who knows about trading. This person can offers you a good advice on the things that you should do during bear market.

What's the most important thing to do in bear market?

  • Keep yourself calm and know your goal. We invest "because we believe in long-term opportunity. A bear market can startled us but we need to think wisely in this kind of situation if you act rashly it's your loss.

What's your thinking about bear market an opportunity or a risk?

Disclaimer: I am not a financial advisor. This is solely my ideas and opinions about bear market. Do your own research. Its better to consult your financial advisor before making any investment decisions. The lead image I used is from Canva.

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Written by   41
2 months ago
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Comments

Well, I try to act dead and also just waiting for the market goes up. Well, I k ow it would take a long way to recover my loss. But if that was about just 10 percent then it was okay but it does not seems to me 10 percent if we see from last years or last few months.

$ 0.01
1 month ago

This is what crypto trading is, the power of HODL, it a long term plan.

$ 0.00
1 month ago

Sometimes it might even be the best time to invest but we just don't want to look at it that way

$ 0.01
2 months ago

Maybe, if we are confused or we are not sure just invest the money that you are afford to lose.

$ 0.00
1 month ago

Everything in crypto now is our of control. Nothing can't be predicted so accurately. Let us hope it will pump soon. We should hold now with full control on our nerves. I agreed to your all points brother.

$ 0.01
2 months ago

Its better to be patient, crypto is a long-term investment. If we are seeking for a short-term earnings Crypto is not for us. But if our goal is a long-term goal that's the proper mindset.

$ 0.00
2 months ago