The Grizzly Man
The fear factor is still very high in the crypto space and looks very bearish despite the recent turnaround in the stock market. All eyes are on Bitcoin and it seems to have detached from the movements of stocks and is doing its own thing.
With the bear market lasting longer than we thought, we will need to adapt to the bear market situation. We need to be as brave as the Grizzly Man and try and tame the bear.
The Grizzly Man according to his biography, has survived an encounter with an 850-pound bear and filmed it for the discovery channel. We don't know how big or how long this bear market will last, but the Grizzly Man spent over 35,000 hours living among bears and has some insights to part with us.
The main vision of the Grizzly Man is that Humans and Bears can co-exist peacefully. We can interpret this to mean that we need to accept that there are bear markets and try and accept them as part of nature.
As part of the crypto cycle, there will be bull and bear markets and if we accept bear markets, it could be the first step towards using it to our advantage.
Getting up close to the Bear
The Grizzly Man would often crawl and walk up to bears and try to touch and film them. As a crypto investor, getting up close and going all-in on a bear market could be dangerous for your portfolio. You could keep picking up falling knives or get too attached to a shitcoin that will never rebound like Luna 2.0.
We can learn from the Grizzly Man that recording your purchases and creating a diary of your thoughts and moves you make during the bear market could be good to help improve your overall performance.
The psychology of investing during a bear market can seem daunting but being consistent and continuing your strategy can pay off. Getting close to the bear market and keep buying at lower prices can increase your profits when the bull comes. The hard part can be seeing your portfolio value decrease each week despite increased investment.
Bear Spray
The Grizzly Man had stopped carrying bear spray with him or firearms after so much time with bears. As a crypto investor, it could be advisable to have some secret weapons to use against the bear market.
If you have some fire power, you can deploy it after each drop in the market at certain stages. This will ensure you still have some ammo available if the bear doesn't stop.
A more passive approach could be to DCA into the bear at a certain interval that fits for you. This way you can take the thinking out of dealing with the bear.
Summary
The main thing is not to get complacent with the bear. Try not to get reckless and deviate from your plan or strategy. One failed move could land you as a bagholder for a shitcoin that is worthless.
Disclaimer:
This is not investment advice. This is for Infotainment purposes only.
Resources:
Title created in Canva using image source
Grizzly People
Night of the Grizzly
