It's lovely how the whole crypto world is talking about the bull run and nothing else. It's been going on since the beginning of the year and it's far from over. Speculations, analysis, theories, debates, banter, depending on the person, but the bottom line is, everyone is hoping to get rich at the end of the bull run.
However, we have to be realistic here, not everyone is going to be rich. If you have a few bags filled with good coins, bought early and will be able to play your cards right, get out in time, you may make a good profit, but I doubt a couple of hundreds can make you life changing money.
And here comes the question. Let's say the bull run is over and then what? Have you thought about what is going to happen then? Most of those who are holding large bags of crypto today have started to accumulate early, years ago. This is not their first bull run and they know exactly what to do, when and how.
The correction that will come after the bull run is over, will be brutal. No one knows what's going to happen, but there's a high chance not every token will survive that, which is why having a plan for after the bull run is essential. At least for me it is.
I'm excited about the bull run, like everyone else, but I'm more excited about what's going to come after. It may sound stupid, but that is when you can accumulate, fill your bags to be ready for the next bull run, which may not be in four years. Times are changing, this bull cycle has already showed us it's not like the previous two and with more and more people and institutions involved in crypto, the cycles may not be similar anymore.
I'm not looking to cash out at the end of the cycle completely and spend the fiat earned. I'm going to spend some but not much, actually it's going to be very minimal. What I want to buy is an office chair, which will be around $100. Yeah, I know :) For me, this a long term investment, that I'm planning to continue for a few years minimum, if not for life. Crypto is the future, it's not just a short term trendy new thing, that will fade away once the next shiny thing surfaces.
Photo by Ryan Parker on Unsplash
BTC is the No. 1 token right now, from every point of view. It was the first crypto token, it has the largest market cap and it's the most widely adopted so far. It is the most expensive in dollar value as well at the moment for a good reason. However, that is going to change in time as there's no way BTC can lead forever. Change on the other hand won't happen overnight, we won't see another token just rocket to the moon and take over BTC. ETH is in a good position right now to compete with BTC but it still needs time.
So I guess it's safe to say it matters a lot how you start the bear season and what tokens you choose to invest in. Getting a good entry is essential as well. Staking your tokens to get some revenue is also crucial.
Three days ago I published a post about the Auto-Invest option on Binance. At the time of writing that pos, they only had 3 options: BTC, ETH and BNB.
Today there are other three options added to the mix: DOT, ADA and SOL.
If you have a look at the market cap, these coins listed on Binance at the Auto-Invest option are all Top 10 coins. I believe there will be other tokens as well in time, but don't expect to see low cap alts.
Binance is not the only saving option and definitely not the best either. When the whole craze is over and you decide it's time to enter the crypto market again, because the price is right, it's better to look for platforms where you can have control over your assets. Your key, your crypto as we say. Buy yourself a cold wallet or more if you need to and move your assets to a safe place and/or stake them. Put them to good use to generate some passive income for you. Farming tokens is the easiest way.
The way I see it, there's no time to lose, you have to have your plan ready and act when it is needed. Time is everything in crypto and you're either in at the right time, or pay extra, if you're late.
So what's your plan for the bear market? Have you thought about it yet?
