1 min read
21 Jan
21Jan

A bear market is filled with fear and this is where the weak hands are flushed out. Those who got into crypto out of the conviction that it's a get rich scheme get frustrated and sell off their coins out of fear that the market will dip further. What we should understand is that dips are normal in every market. There is no normal market that pumps in every cycle.

People who have been in crypto for long will tell you that these dips do not matter in the long run. Experienced traders use these dips as opportunities to buy more coins at a cheaper price which is known as dollar cost averaging. Do not go all in even in dips. Deploy your money in bits so you can buy more if further dips occur.

Bitcoin/USDT chart on trading view


The crypto space has endless opportunities and this is why you need to keep learning. You should use this time to do research on projects you'd like to invest in and further sharpen your skills. If you learn during the dip you'll have an upper hand in the bull. You'll be far ahead of other traders because you have a plan in place.

Sometimes all our body needs is to rest. After taking your profits in the bull cycle you should use some to enjoy yourself and take a break. "Work without play makes Jack a dull boy." When the market is red it's a perfect time to take some time off, go on a vacation, meet your friends and spend some time with family.

Lastly learn from your mistakes. It's during dips that we note most mistakes that we did along the way. One common mistake is not taking profits. Take profits along the way so you can have something to deploy in the bear market. Note down all these mistakes and have a game plan for your survival in crypto.

Happy tradingšŸ˜Š

Comments
* The email will not be published on the website.