Bull and bear markets have been the norm
since the advent of investing nearly a century ago,
and they apply to crypto just as they apply to traditional investing.
Bull and bear markets are normal and inevitable.
If you want to be a successful player in the crypto investing game,
you need to have a concrete plan to deal with both of these issues.
Right now we're in what's called a secret winter.
Crypto winter is a term used to describe a crypto bear market
that lasts more than a few months.
In the first month of 2022,
over $300 billion of the crypto market was wiped.
But the trend started in December 2021
and we are indeed in a crypto bear market.
Is this new and should you be worried?
For a seasoned investor,
crypto bear markets open up unique opportunities,
and if you can keep your cool and think in the right way,
you can also take advantage of these situations.
Here are the best strategies for navigating a crypto bear market.
Buy When Prices Drop: As Warren Buffett famously said,
"When there's blood on the street, you buy",
and this applies to the crypto market as well.
Many investors wait for a bear market to buy
when prices are low and sell when the market is bullish again.
This strategy works not only in traditional markets,
but also in crypto markets.
Dollar cost averaging is a must: in the short phase,
you don't know when the price will be the lowest.
Many investors buy at once during a bear market,
but that's not the best practice.
You should divide your entire reserve fund into smaller portions
and buy at different times in a bear market.
This will give you a better chance at taking advantage of the lowest prices.
Diversify your product mix:
It's always safer to keep eggs in different baskets.
There are currently over 17,000 cryptocurrencies on the market to choose from.
It's always better to choose a few of them rather than go all out with one currency.
With Apocalypse, even the novice investor can play around in the investment market.
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