Cryptocurrency Bear Market Survival Guide - How to behave in a bear market for beginners?

Virtual world vs real world

If you do not participate in any virtual currency, you will not care about any news of the virtual currency volatility market. Just like people who don't invest in any stock market, they don't care about the volatility of the big market today, yesterday or last month.

If you pay attention to the volatility of the virtual currency market, the general reactions can be divided into three categories: 1) Actively follow the market situation and even keep buying, 2) Continue to pay attention to the news and have no response whether it rises or falls, 3) Very worried about the virtual currency market situation, He kept spreading fears of falling markets to those around him.

Newbie trying to buy and sell

I am constantly concerned about market fluctuations and pay attention to the price trend of the big market. When the price of virtual currency falls to a relatively low level, I am very excited to enter the market. I also invested a small amount of money at the beginning, bought at a relatively low price level on the day of the big market decline, and then watched the price trend every minute and every second. Then all the attention is devoted to the direction of the price. Should it be sold if it has risen by 20%? Or continue to wait and hope to rise more? In this case, it took nearly two whole days, kept paying attention to the price fluctuations, kept trading operations, and finally obtained a profit of nearly 50%. Of course, I invested less money, so the net profit amount is not very large.

Senior's head-to-head drink

Fortunately, many seniors around me reminded me that if you just trade virtual currencies like stocks, you will easily lose miserably. If you don't know anything about the company behind the stock you buy, and you enter the market simply because of the price trend and feel that the price is relatively high, this behavior is speculation, not investment. At the same time, I also thought that if I invested a larger amount, would my inner struggle be even greater? Is there a greater chance of making mistakes? After consideration, I decided not to speculatively buy virtual currency, no longer need to pay attention to the trend of price all the time, and no need to worry too much about the risk of profit and loss caused by price fluctuations, life is much easier!

How to deal with the bear market?

Therefore, under this big bear market, I began to understand why some large virtual currencies suddenly fell, and why they fell to a very exaggerated level. I also try to understand the relevant applications behind these virtual currencies, including what work plans they are doing and how they are applied to life.

After an initial understanding, know how the value of certain virtual currencies is reflected in the price. Why are they worth the price and why people like to chase virtual currencies in this category. Then I started to learn to earn different virtual currencies by participating in different communities. Some wrote articles, some played games, some exercised, and some drew. At the same time, they also learned how to get free NFTs, started to make virtual currency live, and used a certain credit card platform to spend, and the rebates they received were all for virtual currency. In this way, different types of virtual currencies are slowly accumulated.

Don't worry too much about the price of virtual currency now, because all the virtual currency I hold is obtained by doing practical things. As the predecessors said: the bear market does practical things, and the bull market naturally weighs 👍