Not For Obvious Reasons
When the average person hears a statement like this, his immediate thought is that the person making it is a trader who specializes in short selling. Surely, what other reason could there be to actually enjoy and embrace a bear market? This is what I am going to be sharing in this article and especially as it pertains to my own personal life.
I will be honest and admit that sometimes the initial shift can be a little uncomfortable but once I have conditioned my mind, it becomes a challenge I actually really enjoy.
So What Makes It So Exciting?
Well, once prices start falling and it becomes apparent that they will continue to fall for some time, the perfect opportunity presents itself. Bear markets are perfect for one particular activity and that is building.
Builders love bear markets because they provide the perfect opportunity to keep your head down and focus on building. For me, it's the building of passive income streams and income-generating mechanisms. Little attention is given to charts and analysis as selling holdings for a profit is no longer on the table. An occasional trade is in order when "perfect scenarios" arise. However, your best bet in a bear market is to accumulate.
Those actively involved in the Crypto space understand that there are actually two distinct types of accumulation. There is the typical buying of assets and then there is the accumulation without any financial investment. This takes place via blogging or other "Free Crypto" avenues. I don't make mention of staking or DeFi, as these approaches do actually require an initial capital allocation. This capital can also be depleted, as prices drop.
Sometimes, the opportunities with higher yields can offset that loss to a large extent but not in most cases.
When To Do What
Buying more assets at the offset of a bear market is not the wisest move. However, earning free coins is a wise option no matter where you are in any particular cycle. Obviously, the coins earned closer to the bottom will be the most valuable due to price appreciation from a lower value. In this particular scenario, more coins are often earned due to dollar valuations and relativity.
Looking to actually purchase more coins is something that should be done as close to the bottom as is discernable. If you keep your emotions out of the picture, it definitely does get easier to succeed in this market.
One thing that I can attest to is that with every cycle you experience comes greater clarity and efficiency in regards to your strategies and approach to the market. Money is made in bear markets and realized in bull markets. If you didn't apply yourself in the bear market, then what are you expecting to see in a bull market?
I have often had people I know refer to my Crypto journey as "luck". There is a lot of hard work that went into the making of this "story". Without that work and dedication, there would be no foundation to build upon or realize gains upon. The best time to get this done is in a bear market and this should encourage anyone who later finds themselves in the midst of a bearish season.
My Current Expectations Of The Market
Looking at BTC currently, I am expecting a retest of the 55K zone. Hopefully, that support will hold and initiate a bounce, which will inevitably create a double bottom formation. This could see BTC back at the $64K mark, battling to definitively break above $70K. There are a lot of predictions and cycle viewpoints floating around at the moment, so one needs to do your own research and seek out a viewpoint that has the most confluence.
However, at the end of the day anything can happen, regardless of data and information and one always needs to keep this in mind.
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
