3 Ways To Not Loose Your Hair During A Bear Market ?

Patience Is A Virtue

But let’s face it, being patient is extremely hard, especially when there is a long bear market and your beloved coins continue falling! Everyone has different ways of dealing with it, but some have a hard time and tend to give up just when the night is the darkest and sell before the next uptrend. This Is why I think it’s important to learn to deal with the bear market and here are some of my suggestions to not loose too much hair !

1- Mindset

Evaluate how much money you are willing to loose. There is no guarantee that cryptocurrency will continue the crazy uptrend that has been, many of course believe it will go up, but I think it’s worth keeping the worst case scenario in mind. Once you make this decision, you don’t have to bite your nails worrying about any future economical problems and you will not react to strongly to the downtrends.

Think of a time frame, are you willing to hold on for a long time ? 1, 2, 3 years or even longer ? Then the current moves are irrelevant to how it will look in the future, if you are Bullish that is.

My own mind frame is that I can loose the money I have invested right now. It will burn and set me back, but it won’t effect my future too much. On the flip side if I hold on and the market develops like I think it can completely change my future outlook. So for me the risk reward ratio is very good and I plan to hold on for a long time.

I will make one change however, and that is when the next upswing come I will sell atleast 25 percent of my holdings. Taking profit is normal and the fact is that you haven’t made any actual money until you do cash out. Selling the entire stack of a coin I won’t do however, I’m way to much of a Golum to do that hehe.

2- Passive Income

I have altered my choices of coins since quite some time back. The fact is that thousands of coins are already dead and a lot of ICO where riding on the euphoria of the bull market but never delivered on one word of what was written in the white paper. I have started looking much more at how sustainable the coins are and if I think it will be around a few years from now.

Passive income coins is therefore a big target of mine. Steem is my favorite by far because you can increase your stake and make money even in a bear market. I’m certain Steem will be extremely hard to earn in the future and now is a great time to accumulate more !

I also have invested in Smartcash that gives smart rewards each month and therefore it’s growing and accumulating nicely and I don’t have to do anything.

EOS is also a great hold for me because of all the airdrops that are happening. This will also be a great side income.

3- Don’t obsess .

What I mean is that you’re not gonna change the market action by watching your portfolio 20 times a day. Now thatnit is summer time, atleast where I live, make sure to get away from the screen once in a while and get out of the crypto bubble. Stop watching the kettle boil, just relax and if the market is going to develop like we think, soon we are going to be riding the bull again and this bear market will be long forgotten.