I love this week's hivenaija topic simply because it contains the word bull run lol. I think every crypto guy loves to hear that word.
Bull run, a term that refers to when the crypto market is trading in the upward direction compared to its previous days, weeks or months.
This is the time all crypto holders are very much excited about, but before one can benefit from such a period he/she needs to be prepared and be ready during the bear market like we are now.
Though I still don't have much experience in crypto, in my two years on Hive, and researching other crypto platforms and following the markets, below are how I'm planning for the next bull run.
Understand the market cycle.
According to historical data, the next crypto bull run is expected to occur when BTC mining rewards halves again and that should be in 2024.
Though there are strong indications that we might experience a bull run before the end of 2023 if the massive adaptation of crypto can happen. When that happens I definitely wouldn't want to miss out on taking a bite of the pie.
Staying inform and tracking the market
Leofinance community is helping me in this regard to keeping tabs on the current market happening. Also
I recently started tracking and studying the price of some wish list coins using coin marketplace.
Getting involved with multiple community crypto related projects.
Getting involved in multiple community crypto projects is something I'm learning to do more, so that I can equip myself and position well with deserving crypto assets for the next bull run.
Keeping my emotions in check
Emotional discipline is very important when holding and waiting to take profit at the appropriate time. Though I have just a few assets I can sell, I'm disciplining myself not to give in to any fear of missing out and then sell before the arrival of a bull market.
Keeping some liquid assets for ready-to-trade
I'm working towards keeping some assets in liquid so that I have access to them for trading when the market is right.
Keeping my assets safe
Because of so many Ponzi schemes and scams out there disguised as legit projects, I'm very careful not to fall victim to them by doing thorough research before getting involved with any projects.
This is by no way an expert advice, but basically my personal thoughts on the given question, do well to consult an expert
This is my entry into this week's hive Naija prompt, answering the question ; how I'm preparing for the next bull run and you are free to join In the fun.
