I think we can all agree that we are about to enter a hard time. Whether it is in the crypto space, the stock market or even the real estate market. All of these asset classes will have a hard time ahead and we are in the middle of it. So what to do? Are we just giving up, not believing into any asset classes now and just letting everything we learned so far go to waste? In this article I want to talk about what to do during the upcoming bear market and I would like to know your feedback on what you are planning to do!
Are we close to the bottom or is there still along way to go? Because crypto and stocks are not the same asset class but generally corelated very similar, I would suggest that both of these markets still have a bit to go until they reach the bottom. In a recent article of mine we found out that the stock market will hit its bottom around Q2 of next year and this is probably the case for crypto as well. So are we going just sit and be desperate for the next bull run? This would be wasted time and all in all probably the worst thing to do right now!
Many people are expecting the next crypto bull run around 2024 when the next Bitcoin Halving will be happening. Until then we have a great chance to stock up some of our favorite projects and Dollar-Cost Average into the coins that we truly believe in. First and foremost, Bitcoin! I think that by now everybody should recognize that this is one of the projects that is here to stay and very difficult to have a future without it. Other than that, you can invest in every other project you truly believe in! There are so many out there, but you should really stick to a few.
Furthermore, I think that Dollar Cost Averaging into existing projects is not the only thing to do now! Currently is also the chance to further educate yourself. Maybe learn a skill or two that might help you out in this industry or in life in general. Understand the whole system behind crypto or look deeper into a project. I think that finding a Play 2 Earn Game is also a very valid thing to do right now. For me personally, I am playing Splinterlands and I am looking forward to play Illuvium which is already in Closed Beta right now! When the Bull-Run starts again, these Games will certainly be one of most popular ones and hence the demand for the in-Game Assets will be astronomical!
Staying outside of crypto, I think that it is always a great idea to invest some time into possible business ideas. I always wanted to look into droppshipping or similar things. Of course this will take time and probably some nerves but at least I tried something that I always wanted to! I think now is the time to take some calculated risk and try things out that are either cooling off or that people might forget again. If it does not work, it is not a big deal and you have the experience of trying!
Last but not least, the most important thing that I want to share. I thing it is very important to stay active and not getting demoralized by the situation. Yes it is very easy to throw everything and be unhappy with the blogging rewards that you are getting. But I think right now is the time to step up the game and make connections in the space! I think that during this time you will see who wanted to ride the bull wave and who actually believes in this space! I think this is a great opportunity for future wealth and set a major step into a future financial freedom direction!
What are your thoughts on the situation? Do you have any other advice in this hard situation that is going to come upon us over the next few months?
Published by ga38jem on
LeoFinance
On 28th May 2022