How to Stay Positive Amid Crypto Bear Market – Bitcoin (BTC/USD), Ethereum (ETH/USD)
Words like “bear market” and “crash” are popping up more often than ever, and it can feel like we’re living in a constant state of doom and gloom. But as they say, with every cloud comes a silver lining, and there are ways to stay positive amid the dreaded crypto bear market.
See also: How to buy Bitcoin (BTC)
Remember why you invested: One of the best ways to stay positive during a bear market is to remember why you invested in the first place. Remember that cryptocurrencies are still in their infancy and this is all part of a natural growth curve. Remember that blockchain technology has the potential to change the world – and it’s not something that can happen overnight. It will take time for the general public to catch on and for the crypto market to become mainstream. This doesn’t mean you can’t be disappointed by the current state of the market, but it does mean you won’t be as affected if you remember the long-term potential. Remembering why you invested in the first place will help put the current state of the market into perspective and make it easier to remain positive and optimistic in the long run.
See more: How to Short Bitcoin
Long-term focus: It’s easy to be tempted to sell your investments when the price is at an all-time low. However, this is the worst thing you can do in a bear market. If you sell your investments when the price is low, you miss out on the potential to make big profits in the future. You will also sell your investments for much less than what you originally paid for them. The best thing you can do during a bear market is to stay focused on the long term. This does not mean that you should not be aware of the price fluctuations, but it does mean that you should not be affected by them. Once you have purchased your investments, there is very little you can do to control the price. Rather, focus on the long-term, and you will end up as a much calmer and more positive investor.
Stay informed: The best way to do this is to keep up to date with the news, read through analytics sites and join relevant Telegram groups. The more information you have, the better equipped you will be to make decisions when the markets are low. Once you’ve bought your investments, you should constantly re-evaluate them to make sure they’re still a good fit for your portfolio. If a particular coin is not performing as well as you had hoped, there is nothing wrong with selling it and investing in something new.
Take time to breathe: The markets will always rise and fall and this is something that is out of your control. However, you can control how you react and react to these changes. Taking time to meditate and breathe when the markets fall will help calm your nerves and eradicate any negative feelings you may be experiencing. It is important to remain calm and collected when the markets fall as it will help you make better decisions and invest wisely.
Price action: Bitcoin BTC/USD was up 0.84% to $20759.96, Ethereum ETH/USD was up 4.56% to $1,624.36, and Dogecoin DOGE/USD was up 26.12% to $0.1057 as of 9 a.m. EDT Saturday, according to data from Benzinga Pro.
Read next: Dogecoin surges, Bitcoin and Ethereum prepare to soar: A look at cryptos into the weekend
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