Suggestions For Surviving The Bitcoin Bear Market

That is an opinion editorial by Boomer, a long-time and energetic member of the monetary independence/retire early (FIRE) motion.

Deep down, all of us knew this was going to occur. Bear markets suck, and so they’re particularly dangerous if it’s your first. Each bear market is completely different and there’ll at all times be folks on the market that may let you know that the sky is falling. Please don’t be a kind of folks. I do know the value motion has been a bit higher prior to now few weeks, however whereas we is probably not in a (cough cough) recession (cough cough), issues are nonetheless fairly dicey on the market. Personally, I’ve no situation with seeing bitcoin bouncing between $20,000 and $25,000 for some time longer, however I understand how scary these huge crimson candles may be in the event you haven’t skilled them earlier than. In the event you purchased your first few sats again in fall 2021 when issues had been wanting like we had been heading for $100,000, you’re most likely feeling fairly defeated proper now. I get it; it’s a horrible feeling. This is likely to be my first bitcoin bear market, however I used to be round for the inventory market craziness from 2007-2009 — the final time that it felt just like the world was ending — and it wasn’t any enjoyable. There are a bunch of self-help articles on the market that may information by the turbulence of inventory market downturns, and I’ve discovered that a lot of the recommendation interprets effectively to bitcoin. Listed below are a handful of suggestions which have helped me prior to now.

Author: Traciwininger

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