We all knows that during bear run the market always take different formation and if you are not careful enough you might be caught in the act. For those who are in the cryptocurrency ecosystem we all knows that whenever a market is unstable you need to apply the unstable wisdom. I heard about a story of a newbie who key into the cryptocurrency ecosystem and and thinks that he has already understand everything. He was opportune to key into the cryptocurrency ecosystem during the bull market. Since it was during the bull run that he keyed in he thinks that everything is fine. We all knows how cryptocurrency works. Do you knows that any projects that he invested in, they fetches him good amount of money. Since he was making money from any trade he his into, he was carried away and he thinks that cryptocurrency is like that all the time. While people were trying to put him through/educate him the more, he neglected it. Just like what I said above, he sees himself as cryptocurrency king. As we heard it from the houses mouth, he said that bull run ended and time for bear market came.
While others were running into tether because it was a heavy dip, he refused to do so because he doesn't know if any thing like tether exist. He was thinking he will keeps making more money, so he decided to use more money to buy coin without making research. As we heard, his portfolio dip from $500,000 to $2000. He was surprised. Now things could have have still played to his game but he was unable to hold, he sold when he noticed that he needs cash heavily. Since he needed cash, he had no other option than to sell from his holdings. Years after selling, some of the coins that he sold pumped badly. What a double loss for him. He was really made with himself. Lesson learnt for him and others. Well, that is not the issue right now, the issue right now is that he took cryptocurrency for granted and that is why he paid heavily with his ignorance. It is always good to know about anything that you are into so that you can get positioned when the need arises.
What to do during unstable Market
We all are no longer new to cryptocurrency, we all knows that when it comes to cryptocurrency there is one thing that makes it interesting, fantastic and amazing. The bear and bull market makes the cryptocurrency ecosystem unique. For those who still don't understand what bear market and the bull market is, permit me to throw little light on it. During the bull run demand outweigh supply. What this mean is that they are a lot of buyers in the cryptocurrency market. Bear period is simply the opposite of bull run, it means that they are less buyers in the market. Supply simply outweighs demand. Since this is now known, we should know embark to the topic of discussion. What exactly should we do when the cryptocurrency market is unstable. As for me these are the few things we should do when the cryptocurrency market is unstable, they include;
Research before buying into a cryptocurrency project: Don't just rush into buying into any cryptocurrency project because it has dropped in price, make good research before keying into any cryptocurrency project. Failure to do this, you might regret deep along the line.
Invest less: You should be mindful about your cryptocurrency investment if not you will regret doing so.
Embark in Airdrop activities: For those who have time to spare you can embarked on airdrop activities, who knows, you might be lucky by running into good cryptocurrency project that might change your cryptocurrency portfolio for good.
Research about upcoming cryptocurrency project with good use case: This is very integral when it comes to cryptocurrency. Before you key into any cryptocurrency project endeavour that you understand it use case. Don't just jump into any cryptocurrency project without knowing it use case. You will regret it at the tail end. I have always hinted that irrespective of what you are doing don't joke with cryptocurrency project use case.
Attend cryptocurrency seminars: Remember that when it comes to life, no knowledge is lost. It will be better for you to attend more cryptocurrency seminars so that you can grow your cryptocurrency knowledge, it will help you deep along the line. Don't think you knows it all, remember that when it comes to cryptocurrency more and more things are being introduced day in day out.
I will end the post here, hope you love it.
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