Today morning when I woke up, I noticed that most of the coins on my watch list were all red. Not just my watch list but the top 10 cryptocurrencies by market cap were all red except for DOGE. I was expecting this to happen but not too soon. This is definitely a good opportunity to purchase some coins cheap and sell them later for a better price when there is a bull market again.
I'm confident about the price because many traders and research analysts have told us that the bubble break or the bear market is not in the near future. This dip is going to be just temporary and the market will definitely heal back. From what I see, this is not the first time we are seeing this dip. The frequent traders will know that this has been the case ever since BTC started pumping hard.
This time again, I'm expecting the price of BTC to heal back taking all the altcoins along with it. I don't see this as a start for the bear market. We still have lots of time for the bear market to start. This is just my opinion and that is the reason why I used this opportunity to purchase some of my favorite coins utilizing this opportunity.
ADA
I was targetting to purchase ADA for a better price. I already bought a little when the price was 1.3 USD and now that the market is down, I wanted to purchase a little more and bought it at 1.2 USD. I'm bullish on ADA and I see good potential for the distant future. I'm able to see some positive vibrations on ADA and many investors have already started investing a lot. Though some people think that the bull run is already over on ADA, I'm not going to listen to them and I see this as important crypto to be available in my portfolio.
Now, this bear market has given me a good opportunity to purchase and hold them. I wanted to have at least a minimum of 500 to 1000 ADA in my bag holding it for the long term. When there was a bear market last time, the price was ADA went to as low as 1.02 and that is when one of my friends bought a huge quantity. I was also fortunate to buy a little at 1.1 USD. I actually don't mind buying it for 1.2 USD and 1.3 USD again because people feel that it is still very low in price.
DOT
This bear market helped me get some DOT tokens cheap. I bought DOT initially when the price was 10$ and even less than that. From that time onwards I had been watching the price of DOT and how it is moving. I thought 30$ is the new base and even if there is a bear market the price of DOT wouldn't go below 30$. But the recent bear market has proved that 35 USD is now the new base price for DOT. I was confident on DOT and have purchased them today for 35 USD.
Last week the price of DOT touched 48$ which was great. That is why I was confident to even purchase it at 35 USD. I'm going to hold it at least till it reaches 45$ and book my profit. I already have enough DOT tokens in my bag for the future. So, I'm not planning to hold it anymore for the long term. But even if the bear market continues for a long time and the price of DOT is not moving any further, I would be happy to hold DOT for the long term because I'm confident about the future of DOT.
My work for this bear market is done already and I have to just wait for the next bull market and book some profits. I really wish we have such bear and bull markets frequently in the crypto world so that it is a lot easier for the crypto traders and people like me who are slowly learning to trade.
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