The Crypto Market Is Tanking: What Should You Do During This Time?

Cryptocurrencies are volatile assets which makes the journey to decentralized the world even more thrilling and exciting. No assets in the world will only have one direction for its price to go to and investing in crypto is literally like a roller coaster - it will go up but will also go down, it will go down but will eventually go back up.

For the past 2 months, Bitcoin (BTC) continues to dropped in price and now just sitting above $32,900 (6:30 PM), around -25% lost in value since March. The last time we saw Bitcoin (BTC) in this range was still during July 2021 after the massive sell-off in May 2021 that resulted to months of lows and accumulations before breaking another all-time high.

Again, in this not-so-new scenario, the crypto market once again slowly losing fuel to drive investors to be bullish and the overall market is bearish making fears and uncertainties from the people. Like it was mentioned by a lot, the market will not always go up and it will eventually halt at some point, but temporarily. Here are some ways you can do while being in this side of the market.

Accumulate As Much As You Can.

There are these 2 kinds of market events - bullish market and bearish market..

During bullish market is where most people get caught in FOMO as everything seems like flying and people do not intend to miss it. People get FOMOed while people who accumulated in the dips seeking a good price to sell their assets.

Bearish market is where panic selling mostly happens. The sentiment are driving people to sell or cut the loss they have as they are having fear that the market can still continue to drop and they are saving their portfolio as much as they can. In this scenario, wise investors get their assets that they think have the potential in the future by using dollar cost averaging. Every dips can be eaten by wise money while people who panicked and sold are the ones tend to lose in the game.

To put it simple, during a bullish market is where everyone should sell while during a bearish market is where everyone should start accumulating.

This is not a financial advice, during this bearish trend is the best time to put your extra money in an asset you truly believed in. Even a single dollar everyday can make a difference over time. Accumulate, DCA and hold until it reached the price where you wanted to sell.

Get a job to have a source of income and something to use in your accumulation, join crypto giveaways, be a content creator and there are more ways for you to accumulate. Just have the perseverance to do it and be patient along the way.

Don't Glue Yourself In The Chart.

Watching the market and the price of your assets shouldn't be your life. There are much more important things to do than watching the chart all day. If you think you have a great assets in your portfolio and do not want to sell with a loss, stay away from watching the chart from time to time.

Watching your assets can be really depressing especially if have invested a lot in it. Do not waste your time praying over the chart to go back up again as the crypto market has its own time for that.

Go out with your family, friends and special someone. Spend your precious time with them instead of getting depression from the market.

Focus on your work or side hussle. If you are a writer in different publishing platforms, give more time it to enhance your knowledge and enrich yourself during a bearish market.

Working and getting paid if you want to have something to use to accumulate the assets you want is one of the best thing you can do. Forget the chart and focus a little more what's outside in the chart.

Conclusion.

Seeing the crypto market being in an overall bearish sentiment is hysterically depressing. But everything that's going on now can be considered as a temporary. This is not the first time the crypto market experienced this. It has tanked a lot of times in the past but got up on its feet even stronger. Cryptocurrency is here to stay to revolutionized the world of finance.

Image Source: NewsRoomPost.