What To Do When Bear Pokes
The market has recouped some losses since the year started. Investors were shaken by the constant dips and project fluctuations due to the ongoing global crisis. No one totally saw this coming. Thriving up to the top has often been a long climb, but market’s volatility can easily manipulate landslides. Many investors have pulled out their investments, while some remained silent and focused on just holding.
The current situation between Ukraine and Russia is undoubtedly one of the reasons why the market has been so fragile the past weeks. Many times the bear market happens when economic and geopolitical events are raised even in one or two areas. While there is no accurate way to predict when the bear market will poke, it is important to equip ourselves with a sharp knowledge.
We already mentioned the bear, a situation where the market is in decline. A time that most investors fear, but an opportunity to take advantage of for some traders. On the other hand, a bull market is the condition in which prices are rising or greens are expected to wave on the chart. These two terms are often used by investors in general, and not just by crypto heads who trade crypto.
To give emphasis, there is no exact way to calculate how long the bear would last. Crypto prediction and analysis are all spreaded on the internet, but these are merely based on forecasts. These uncertainties put investors in a state of constant panicking that leads to losses. “It’s that time of the year again,” as they say. Patience, knowledge and faith of an investor are getting tested by this time. Funny how even those who intentionally entered for a long-time are also being swayed when they see the consecutive red lines.
Here are simple reminders everyone should take note once in their lifetime:
It is an underrated advice, or not an advice at all. Sometimes doing nothing is the best thing to do during a market decline. Avoiding the chart also means being safe from panicking and feeling the fear of missing out. In cryptocurrency, it is not the project nor the crypto that should be considered the villain, it is ourselves — crypto will test how bold is your faith and mindset.
Be there for the long haul
A decade ago, no one expected something big from Bitcoin. Most of the early holders are only up to experimentation. They are curious how technology would allow consumers to pay for pizza from another country, perhaps how to digitize a photo and make it their own.
One or two decades from now, crypto will be a lot bigger. Bitcoin could possibly keep pace with centralized currencies, and can do greater things for financial and economic growth of a certain country. Surely, we don’t want to miss that.
Play your own game
Your investment, your rules. Investors do not necessarily need a timeline of success, however, timeframes for investments should be taken seriously. With everything that is happening around us — friends getting their first 9-digit at the age of 20, projects being hyped by so-called influencers, etc., it is important to keep an eye at and only to our crypto goals.
Greed and enviousness will only eat us all up, so focus!