Crypto Winter : Is This Your First ?

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Crypto winter has blanketed the year 2022 with a deep snow pack and left crypto investors shivering in the cold and anxiously awaiting the warm sun of the next bull run.

Bitcoin and Etheruem are both down over 70% off their highs. Q2 also happened to be the worst quarterly performance for Bitcoin in more than a decade and Ethereum saw it’s worst quarter ever.

Many cryptocurrency exchanges have announced hiring freezes and layoffs . Shares of Coinbase have fallen 86% off their 52 — week highs.

The moon boys of 2021 have gone silent and many have declared bitcoin dead once again. The talk instead is of 3AC , Celsius , Voyager and the LUNA collapse. 

It’s easy to see how many entering the crypto space in late 2021 have gotten discouraged and thrown in the towel as any investors who purchased Bitcoin in the last year are under water.

Is all lost ? Not for the faithful !

If winter is here can spring be near ? It may be too soon to think about spring as this winter could last for another year or more but this is the time to prepare for the next bull run.

Read crypto news but do not become fixated on charts. Constantly monitoring charts will not change our paper losses but it could instead lead to emotional decision making that will most likely be regretted when the market begins to reverse.

Keep your crypto keys in a cold wallet. The recent bankruptcy woes going on in the crypto industry are reason enough to be proactive and protect your assets by using a hardware wallet. Are you willing to roll the dice and gamble that your crypto is safe on an exchange ?

Dollar cost average. DCA is a tried and proven strategy. Making smaller incremental asset purchases on a schedule regularly helps to reduce your level of risk and also helps to minimize chart watching and making emotional choices. Some exchanges will provide automated dollar cost averaging.

Exercise patience . Crypto winter can last longer than expected and mentally test even the most steadfast believers. Understand that the market could drop even further or trade sideways for another two years or more.

Take time to reflect and plan for the next bull run. Will you take profits regularly with sell limit orders ? Will you HODL ? Will you be diversifying your portfolio ? What are the tax implications of crypto strategy ? All these questions should be a part of your decision making process prior to the next bull run. 

Take care of your self. There’s no better time than a crypto winter to step away and find a new hobby , take a road trip or get together with friends . Let’s face it , the fact that crypto trades 24/7/365 can be mentally exhausting at times and you need to give yourself a break. 

If winter is here can spring be near ?


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$ 0.30
$ 0.20 from @Coolmidwestguy
$ 0.10 from @Sydney2

Comments

Hello! I have found a user here who has been writing inside a month and he doesn't have any readers or subscribers. In fact I am the first subscriber. I want to motivate new users here and this is why I mentioned you guys because you are already Pioneers here in the platform. 🙌

@kingofreview @micontingsabit @Expelliarmus30 @Ruffa @lonestranger @coolmidwestguy @Eunoia @Dennmarc @JRamona20 @Jane

$ 0.01
2 years ago

Ohhh, he or she really need to interact with others if he wants to gain more audience. 💪☺️✨

$ 0.00
2 years ago

Hi Ruffa ! That is a very fair statement. Honestly I have been putting the majority of my energy into Medium with less than stellar results. I believe I need to step back and reconsider. Thanks for your honest and fair feedback !

$ 0.05
2 years ago

Yayyyy, and sadly your comment was moved as a spam for some reasons 🥺. So your account is really not okay. The reason why you are not receiving any tips.

$ 0.00
2 years ago

Thanks Sydney but I had to laugh when you referred to me as a pioneer. I have stood up here in the platform but I'm still a baby 🍼 I'm only just over two months!!

$ 0.00
2 years ago

Thanks for tagging me @Sydney2. Keep interacting not only on your articles. Your content is good especially articles about crypto are usually rewarded. You can also help other people who wants to learn more about crypto too. I noticed that your comments are marked as spam too

$ 0.00
2 years ago

Thanks for the feedback ! A few other people also noted that my comments are marked as spam . I'm not sure if I need to delete this account and create a new one ?

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2 years ago

Welcome here in read.cash my friend. 🎉 We are always here to support you. Continue to inspiring everyone. Enjoy here always my friend. ❤️

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2 years ago

Thanks for the welcome and the kind words !

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2 years ago

Welcome here. You now have 2 subscribers!! More to come for sure.

I'll give you advice on how to grow. First find articles you like to read and subscribe to the authors. Let them know what you like about their content. Engagement is a big part of growing on this platform. Always engage back to comments from your articles.

You will also have to broaden your scope on what you read and write. The best and easy way to start at this is write an introduction article. Let us know who you are , why your here, and what you aim to accomplish being here. Almost always people will check it out. We like reading introduction articles. Crypto articles are popular but in order to gain viewership you must first establish yourself.

I hope this is good advice for you to follow. Take care

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2 years ago

Thanks for the advice Coolmidwesternguy ! Pleasure to meet you !

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2 years ago