HOW TO REMAIN CALM AMID CRYPTO BEAR MARKET

04, February, 2022
By: Carl Iyke

The digital form of the financial market, otherwise known as cryptocurrencies, has been in a state of recurring dips for quite a while now. This has started to get to its investors and not in a good way necessarily. From previous years Technical Analysis – TAs – the market usually takes a hit towards the end of the year, which may be attributed to many reasons. Some people like to believe that those who had invested money all year round begin to take the money out to go on vacations, holidays, Christmas, and the likes of them. Some also like to believe that it might be due to market manipulation through the king of the market,  bitcoin. 

Regardless of all these, the market would still rise at the beginning of the following year. After that, things would usually go back to normal, but it seems that would not be happening this year or may come in later than expected as all the signs are pointing towards a further dip as things progress. Nevertheless, we must remain calm and stay focused now more than ever.

Here are a few ways we can remain calm amid the bear market.

TAKE A BREAK

We may have noticed that anytime we keep going at a single thing, we tend to lose focus and don't even know what we are doing anymore. Breaks have proven to be quite an adequate approach for most people. It’s not running away from the problem. It's more like taking a step back and looking at it from a different angle. It may surprise you to know that some people may even go as far as deleting the mobile apps and muting words related to it. Some people also try meditating and reconnecting with nature. The point here is to find what works for you and do it. And trust me, when you come back with a clear head, you will see things differently. It may be a week or some days or whatever you think would be enough for you and your mind to get into the right frame again. Please take it.

TAKE ADVANTAGE OF THE DIP

Like we all rightly know, a dip is the best time to invest in crypto so that you may reap its fruits when it's time for harvest. Buying dips of an asset that you own by splitting your reserve funds into smaller units to make several trades over time - also known as Dollar Cost Averaging or DCA for short - is an effective way to recover when the market starts going up again. It has been advised that crypto should be bought with spare cash, the money you won't be using anytime soon, or money you don't mind losing. Still, human greed is something that even the strongest of us cannot fully overcome. So, we buy it with funds that we borrow or even that which was entrusted to us to keep. Funny how the mind works. But if one can stick to this rule, now is a good time to invest in crypto, for it will rise again.