Finding Peace in the Crypto Bear Market

There is a stereotype that getting rich by investing in cryptocurrencies is one of the easiest things you can do. All that is required is picking any random crypto, investing a decent amount of cash into it, and waiting for your gains to roll in. Something that could be accomplished within a year. There are stories of that happening, but we need to be honest with ourselves. That will never happen to us. For the regular people in crypto, becoming rich will be one of the most difficult things you have ever done. Testing you mentally, and likely will turn at least a few of your hairs gray in the process. The stress is something that not everyone can handle, especially during the deep winter of the bear market.

Unfortunately, that is exactly where we find ourselves today. We are deep in the cold market and crypto companies are becoming insolvent all around us. The price of Bitcoin fell much lower than any of us ever expected to see again. As usual in bear markets, this has led to extreme doubts about the future of the crypto market. Will it be able to thrive, let alone survive? Will we ever see new all-time highs again? Why won’t prices stop dropping? Should we sell and salvage what value is left of our crypto while we still can? Your once strong conviction in crypto likely now has some strong doubts that have been thrown in the mix. Maybe we weren’t right about the future of the cryptocurrency market.

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These are all common questions and feelings to begin having while the crypto market is seemingly collapsing around us in the bear market. It is completely normal, and we have all been in this situation before.

However, if you can survive the crypto bear market and continue investing throughout. There is a very high chance that you will be a winner in the crypto market and eventually become wealthy. But the key is surviving the bear market, which can get to even the best of us.

Conviction

The most important thing that you need to do to find peace during the bear market is to re-establish your conviction. Researching, reviewing, and remembering why you got into this market in the first place. Remembering that there will only ever be 21 million Bitcoin and that 4–5 million of them are already lost forever. That it is the most decentralized protocol, allowing for self-custody and trustless transactions. It solves the byzantine general’s problem, and due to its halving reward system, actually rewards you for saving. Remembering that you are in this for the long-term and that current prices do not matter. That 1 Bitcoin = 1 Bitcoin.

By re-establishing your strong conviction you will be able to take on the FUD that is often spread during bear markets.

Everything is on Sale

After you have been investing in Bitcoin and crypto long enough, your way of thinking changes in some interesting ways. When you first got into Bitcoin, perhaps you panicked upon seeing the price of Bitcoin drop drastically. Because that meant that the value of your portfolio was also dropping rapidly.

However, once you have been investing in crypto long enough, you begin to see how everything works. How there are cycles and that while history may not repeat, it does often rhyme a lot. That is when you begin to look at these huge price drops as Black Friday type of sales. Recognizing these are the opportunities that provide the best opportunity to become rich. Once you have true conviction in crypto, you might actually begin to hope that prices don’t increase in the foreseeable future. You know how high prices will eventually go, and you want to accumulate as much as possible before that happens.

Get off the Computer and “Go Touch Some Grass”

For those who are becoming stressed by crypto prices being down so much much. One of the worst things that you can do is to stay on the computer or phone for several hours at a time devouring everything you can about crypto. Right now Crypto Twitter and YouTube are one of the most toxic and depressing places on the internet. People have lost a lot of money, and have become angry. By participating in these places, all of that anger, fear, and stress will be passed on to you.

If you can handle all of that it is a great time to research and find the big next projects. But, for others, the best thing might be to put your phone down, and go outside and interact in the real world. Remember that these are just numbers on a screen, and aren’t the most important thing in life. That computer will always be sitting there waiting for you when you are ready to jump back into the market.

Invest Only What You Can Afford to Lose

This is advice as old as time, but it is truly one of the most important things that you can do to stay sane during the bear markets. By investing only what you can afford to lose, it no longer matters if it would go to zero. Because mentally you have already accepted that as a real possibility.

However, if you invest too much where your financial standing completely depends on the price movements of crypto. That is when bear markets will become too much for you to handle. Causing you to be forced to sell out of the market.

By following these simple tips, you will be able to find peace during the crypto bear markets. By surviving and continuing to accumulate while prices are so low, you will already have a good start on becoming wealthy in crypto.

Have you been able to find peace during the bear market? What methods do you recommend?

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