Did the Bear Market Teach You Anything?
How do you feel to see the crypto market? Maybe looking at your crypto portfolio, you feel down. You think you should have sold some crypto that you did not intend to hold. Unfortunately, you cannot do much about it because it does not make sense to sell them now.
You have to go through different learning curves. You can analyze what you did and what kind of mistakes you made in the bull market. Didn't you see the crypto market looked bearish at that time? Yes, you saw that. But you still hold those cryptos that did not intend to hold for the long term.
So what influenced you to do that?
You heard positive news although the crypto market went down. At the same time, some analysts showed how the crypto market would go up from that point. So you were bullish.
You put your trust in some predictions that the crypto price would hit a certain level. You were convinced that the price of the cryptocurrency would not go down without touching that upper level. There were talks about the supper cycle, and the crypto market would not go into a bear market.
The thing is, you gave more importance to other people's opinions about the market than your opinions about the market. You invest in cryptocurrency with your money. You are responsible for what you do with that. You cannot blame those analysts due to not happening what they said, can you?
A bear market can teach you good lessons. You can figure out the mistakes that you made in the bull market. You have experience and you learned your lessons. You would not make the same mistakes again.
If you intend to hold some crypto for the long term, you can definitely do that. But if you decide to hold some crypto for a short period of time and sell it later to make a profit, you should execute your plan. You will either come out with a profit or exit from the market taking a small loss.
Having sufficient funds in a bear market helps you the most to make your move in crypto. So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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They said when the market is bearish it is an opportunity to invest more.