Are You Prepared to Buy The Dip?
When you see the crypto market keeps crashing in a bear market, how do you feel? Things are getting so tough that it becomes difficult to survive in a bear market. You get crypto at a low price, but you may not have the funds to buy the dip. You regret it and you wish you would have enough funds to take advantage of the situation and buy the dip.
I think the best thing you can do is to prepare yourself to buy the dip and follow a strategy consistently. If you are so depressed in a bear market or too excited in a bull market, you may fail to take advantage of the situation and prepare yourself for grabbing the next opportunity.
In a bull market, it seems the crypto market will only go up and you see crazy crypto price predictions everywhere. You do not sell your crypto. Even when you see the crypto market crashes hard, you don't want to sell because you think you will lose the potential gain. You wait to sell crypto when the price rises again.
You are disappointed to see the crypto market since crazy crypto price predictions did not come true. Instead, crypto prices keep falling and you are losing due to not selling your cryptocurrency. When you ultimately sell your crypto, it is too late. That's why, you could not make the potential gain that you are supposed to do.
Again when you sell your crypto in a bull market and make a profit, you also forget about the upcoming bear market. You are very excited and happy to see the huge profit. You quit your job or stop doing what you did before. In a downtrend market, you do not generate cash inflow from crypto as you thought before.
You wake up and the reality hits you hard. You underestimate the importance of having consistent cash inflows. You get back to the same old job. Your financial situation does not change much. If you prepare yourself for the bear market, things will be a lot easier. You may not go through a hard time.
You can buy the dip and take full advantage of the bear market to grow your crypto portfolio. You can follow your strategy consistently since you have the funds to take care of other things as well as invest in cryptocurrency.