The bear market is an extremely difficult period in crypto. Nevertheless, it wasn't always that difficult to cope with it if you had a strategy. I knew players who followed their strategy to the letter and always came out on the other side to take profit.
The bear is a period where many people lose their portfolio, due to FUD and the saying that "bitcoin is going to zero", so there are always people who would sell through the bear market due to fear and begin to buy again when the bull run comes through.
Their loss is always colossal because they couldn't hold on to a unique strategy and throw in a little bit of gut.
No Gut, no Glory
For someone like me, all I did was feign ignorance from all the FUD, get another project different from crypto to work on, and keep finding creative ways to accumulate. Although most times, I fail at my accumulation goals but still accomplish my goal of staying away from FUD outlets as long as I can.
I'm someone who believes that no one should need more than three bull markets to establish themselves to a certain level, where they no longer care about bear or bull market.
However, a lot of people do not develop individual coping and building strategies, hence they end up always waiting for every bull market for scraps and they are back to being the same when the bear market comes again.
Ground Zero & The Fear Of Volatility
As someone who started from ground zero, I have come to understand the negative impact of volatility, the change in psychology when it's the bull and bear season.
One season, you're confident BTC is going to 200K and another season, you're doubting whether it would even struggle to not go below 5k.
All these are the psychological and mental volatility created by the swing in price
The only way this psychological volatility wouldn't directly affect one is if they had taken advantage of the market at one point in time to forever break free from the FUD and become investors for the technology and long-term as well.
FUD & The Fear Of The Future
One of the things I've come to discover is that people who give in excessively to FUD are scared for their future. While this is normal, the only way to get out of this psychological FUD system is to take advantage of the humongous profits that only crypto is capable of giving to stabilize your real-time finances.
However as I said earlier, building from the scratch is difficult because the biggest enemy of accumulation is distraction. It's easy to stop building when one loses focus and the sad part of not building is that one would always see the bear market as a horrific period when they could have taken the time to build.
Everyone in crypto should target a psychological level where they no longer see the bear season as terror but as an opportunity to prepare and x2 or x3 their previous portfolios.
The SEC causes Massive Drawbacks
Not a lot of people have gotten to this level and because of the present challenges faced by crypto, I believe it'll still take some people 8 to 10 years. No one likes drawbacks. The SEC and banks plus bad actors have been a niggling drawback to crypto in the past 6 to 8 months.
This will obviously affect builders. Although people who are already established builders will care less about the SEC and all these drawbacks.
This is because they know Crypto from the beginning, in fact, if there's one thing I know, they're constantly filling their bags to the extent that it gives the idea that they're not even after the profit alone. Of course, they are, just that they're also solid believers of the technology and the futuristic gratification of attaining unimaginable wealth.
Crypto Whales Are Always There For The Ride
These people are not after the short-term swings of the price, in fact at one point in time, they know Crypto will face challenges. Of course, attaining this height is obviously not for everyone, but the truth is that everyone at some point in time should aim for a position where they'll never have to care about volatility again.
Of course, this is the goal. But I don't have a solution or how to do it. I just believe people should stop seeing crypto as a means to an end but a lifetime opportunity to determine how financially stable they want to be.
Of course, I don't know how to do this. I feel like everyone should individually have their plans. The futuristic bull or bear seasons may not matter anymore if you play your cards right.
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The problem with how people burn in the bear is because of the huge amount of sentiment the losses provoke in them. It’s not easy looking at an account holding the same amount of assets, that used to 80-90% more than what it is now. Strategies go to the mud when sentiment comes into play.
I think just one bull and bear is enough to teach even a beginner the lesson they need to learn - which can honestly be interpreted in many forms, two simple ones being:
The market just works in a truely amazing way. Knowing that in a typical bear, prices are down at least 80% is a great advantage already to the informed. This gives people the chance to take profit at any point in the bull run if even not at the peak, and still wait patiently for that 80% bear discount to come back in. Amazing.
This is absolutely true but then, what causes strategies to go into the mud is because people pay attention to FUD. the truth is fud is the beginning of emotional instability and while it's not totally a bad thing. The bear market has a way of unsettling people and turning them into weak hands. This is why I think people should need like 3 bull market to finally see the bear market as a time of opportunity and not volatility anymore.
Great input. I like to think that people who build are the ones who have enough volume to take advantage.
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Well said Chief, majority of crypto investors come in for the scraps when the bull knocks and the volatility of the market plunges them back to ground zero.
Your second to last paragraph has summarized it all. Crypto should not be a means to an end but should be a long term of investment.
I have cultivated a culture of spending certain and fixed percentage of my salary (income) to certain projects every month in crypto market for the long run as well as staking them.
Thank you for this post
Majority of people, including me are all small time builders, but I've come to realize that people need to be intentional and strategies about Crypto if they want to build anything solid for themselves and their lives and also if they want to get to that stage where volatility becomes a time to reinvest. The process matters a lot..
That's really good, it'll come in very handy.
Thank you Chief
Fact! Many people that had little or no idea of crypto only ask me if that our coin is still at loss. But, they don't understand the challenges of crypto market but understand it as just a loss.
Fact! I keep doubting myself if i am doing the right time but looking at great minds and astute investors, who keep accumulating rather than selling in fear motivates me a lot.
Fact! Humans tend to do whatever is profitable but when the gains are not coming. Many will scare away and focus on other ventures that's distractions because they will eventually come back during bull seasons.
No one can completely do what's right or wrong when it comes to Crypto, even the people who are seeming financial gurus. It's a tough place out there and sometimes, the only thing we can do is just keep gaining the needed experience, learning and growing on a daily
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Fact!
Everyone can't forecast the trend of the crypto correctly due to its volatility and psychological of the people on it
For the long-term players, it is vital we develop this strategy, not to see the bear season as a time of sorrow and lack but time to take advantage of the season and build. It is very important we develop such a strategy in our crypto journey if we intend to play it long-term.
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It's important, really important, I'm hoping the next bull market can give us such advantage so that we can take a break and begin to build stable lives that will enable to continually build our portfolios whatsoever.
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The US government, the SEC and the Fed are trying their best to keep the bear market going for sure. 🤣
It's true, while we're seeing a different thing in china, I think the US government and SEC are scared that crypto will expose all the irregularities in the traditional banking system.
100%.
I think taking things seriously and devising a strategic plan is the main characteristics of crypto builders, that's what I'm aspiring to do. The FUD isn't going away anytime soon but with a strong foundational understanding of crypto, its effects wears out little by little. The setbacks can be framed into a comeback.
FUD might be here to stay, but I'm kind of certain that the market will inevitably push for higher prices sooner than we think. FUD might just a huge demotivator.
It is. FUD does more harm than good. Many a fortune has been lost because of it.
But it's the situation in crypto, sadly the US and SEC keeps creating more of it on a daily.
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Being strategic matters in all we do and when builds from the scratch, it speaks a lot of one's attitude toward the bull/bear season.
Nothing but the truth
Thank ya and thanks for sharing.
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Fact! Many people that had little or no idea of crypto only ask me if that our coin is still at loss. But, they don't understand the challenges of crypto market but understand it as just a loss.
Fact! I keep doubting myself if i am doing the right time but looking at great minds and astute investors, who keep accumulating rather than selling in fear motivates me a lot.
Fact! Humans tend to do whatever is profitable but when the gains are not coming. Many will scare away and focus on other ventures that's distractions because they will eventually come back during bull seasons.
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Bear market is difficult for sure but I think this is the best time to build. There is no easy money in crypto but if we follow a proper strategy then things can be better and much more profitable.
Governments always want control and the powerful tend to push out a bunch of those biased articles pushing their agenda. In that way, it's hard to fight against all the FUD/FOMO and I always look at articles with a skeptical view. I'd read it for information but ultimately, the decision lies with the person and I think most of them are just propaganda.
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Many are afraid of bear market not knowing that it's the best time to invest or accumulate more tokens. During bull, you'll see them galloping to buy not knowing they're investing at the wrong time. So suddenly, they end up losing assets. Even a friend told me days ago that once crypto goes up, I should tell him so as to buy and sell to make quick money. Hahaha. As for me, I do make wise use if bear market and am not even afraid of bear market because all I need is patience.