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Beginner Guide What to do during a Crypto Bear Market

Discussion in 'Beginner's Bootcamp' started by MAGA, Mar 21, 2018.

  1. MAGA

    MAGA Master of Crypto Staff Member Super Admin Premium Member

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    Disclaimer: This is not financial advice

    We have recently went through a nearly 3 month Bear market in crypto (bear market means prices dump and lots of selling going on) and this usually causes a lot of people to panic sell, especially people new to this type of volatility. This thread is meant to help new comers make good choices during these times and hopefully come out with big gains once the market returns to Bull (prices up, lots of buying and hype).

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    Here are some tips
    • If you didn't sell way before the dumps happened, HOLD. Don't sell for a loss in either satoshi or USD. I know its hard sometimes to see unrealized gains turn into potential losses, but if you bought high, don't sell low. Only exception to this could be if you bought into the hype of a shitcoin like bitconnect.

    • The market follows Bitcoin: Hardly anything will pump during a bear market even if the coin has amazing news.

    • Buy up cheap coins you believe in: You don't have to throw your life savings at it, but buying every once in a while during a Bear market allows you to average down and end up with profit way sooner on the next Bull run.

    • Think longer term: You hear a lot of people claiming Bitcoin or other crypto currencies are dead during these times. A few years from now we'll be looking back saying how cheap some of these coins were and asking why we didn't buy more.

    Feel free to add on to the list if you have other tips in this thread.
     
  2. cryptodude

    cryptodude Master of Crypto Staff Member Super Admin Premium Member

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    Great tips, I might add another one. During the bear market, keep preoccupied with your job, family, etc. so that you're not constantly focused on the price which can be depressing.
     
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  3. MoonWalk

    MoonWalk Scholar

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    Start a business and focus more on that in the down times!

    -To make more money for crypto.
     
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  4. criptobitco

    criptobitco Contributor

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    so hodl is the best pick during the dumps
     
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  5. IQover9000

    IQover9000 Scholar Premium Member

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    You can also use the IO9 method aka IQOver9000 method!
    It's been helping me through several bear markets, and I am able to continue trading.
     
  6. KarenC

    KarenC Contributor

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    Please share your knowledge Sam.
     
  7. jitenrajput

    jitenrajput Contributor

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    In addition to your tips:

    Don’t margin trade when the market is bearish. Even if the market is bullish, do it with the part you are willing to lose!
     
  8. spindle.ico

    spindle.ico Contributor

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    I suppose it fully depends on the goals: you a person invests short-term for profits - then in bearish market the best way is to sell.
    In case a person truly believes in crypto power and invest long term - of course to hold - hodl:) - and wait for the market to recover.
    Also it's very important to diversify your portfolio
     
  9. JohnChart

    JohnChart Contributor

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    I bought bitcoin at 19000$ and hold to die :)
     
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  10. Zei0801

    Zei0801 Contributor

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    Great tips. you provided good vision to guide everyone during bear market. Instead of worrying when it will recover, you can do other things in your own comfort.
     
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  11. angy

    angy Contributor

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    I read that today. Anybody knows which one crypto they wanna implement?
     
  12. theminery

    theminery Contributor

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    Good counsel. Anyone else any thoughts?
     
  13. ICODA

    ICODA Scholar

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    Thanks, that helps in my "crypto list to do"
     
  14. Angla Watson

    Angla Watson Contributor

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    How much down Bitcoin at this time. Also, wanted to know about what is the best time to buy it?
     
  15. NOAHCOINOfficial

    NOAHCOINOfficial Contributor

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    The only way is patiently wait and don't panic and rush to sell everything. The market is volatile by nature, that's ok. After downs we'll have ups
     
  16. XIntel

    XIntel Contributor

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    Many will be buying while others panic sell.

    Do the opposite ;)
     
  17. xyzzy

    xyzzy Master of None Staff Member Super Admin

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    Or sell with a stop loss and buy back in cheaper!
     
  18. Arpit

    Arpit Moderator Premium Member

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    Those are some really interesting tips. Since the dip can be seen across the entire market, buying cheap coins in bearish market may still be risky.
    I am a margin trader majority of the time.
    I particularly try to use Tether to my advantage to switch between bitcoins and tether and then convert it back.
    Tether is stable and it looks like a good technique.
     
  19. Ann

    Ann Beginner

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    I was just thinking, " who bought this for 20,000?"And I saw your comment.
     
  20. Arpit

    Arpit Moderator Premium Member

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    He might go for the right averaging points and bring the pricing down ;)
    But still, that's a very high price considering the scenario now.
     

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