"Bull Market make you Money but Bear Market make you Rich"
Honestly, this is something we all as crypto traders should always remember because it's just the painful truth. so many traders hate to see a bear run or trend or market for the main reasons that their portfolio is reducing in value so they just close their eyes to the opportunity the bear market is presenting on a platter of Gold, while the more experienced traders pray for the bull market but they are also prepared for the dip or bear market along the way.
This is because the bear market is the best time to buy more coins if you have the money to buy the dip and add to your portfolio at a discounted price, when you do this even if you were caught in the dip your account or portfolio will recover faster, when the market starts to recover because the profit you are making from the dip you bought, will be covering up for the losses you have incurred.
And when the markets pump higher than your initial investment, you can now see that the bear market did you more good than harm if you are patient enough and did not panic sell because you will be making double profit from both your initial investment and the dip you bought, now you see that the dip or bear market is actually your friend and not your enemy.
The bull market will always make us money but not as much as the bear market will give us because even in a bull market there is always a little retracement for you to accumulate more coins during the bull market, the market does not just go up or pump straight without little dip, which gives room for the bigger pumps in the market.
Let me give you a real life example, before the Bitcoin pump to the new all time high at $64k there was a huge bear market or dip to $29k, imagine you bought Bitcoin at $29k you know how rich you would have become when the price got to $64k.
Can you compare the profit made by two traders one who bought during the bear market at $29k and another trader who bought during the bull run or market at $51k, if they bought the same quantity of Bitcoin?.
Posted Using LeoFinance Beta
This is good news for those of us who are not panicking. !BEER
Posted Using LeoFinance Beta
Yeah, panicking leads to mistakes.
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BEER.I agree 💯. Profit is made more during dips. Even me sef see am
Yes dear, that's were the most money is made.