There is this popular saying if you can not stand the heat in the kitchen get out of the kitchen, in the case of crypto it will be if you can not stand the pressure of the bear market do not get into crypto or close all your trades, which in my opinion I do not think that is a very smart idea because you will be selling at a huge loss, but if you know you can not HODL your coins or hold your trade positions until the market recovers then it is up to you to sell but as I have said earlier it is not a smart decision in my opinion.
If you can remember during 2018, and 2020 crypto market crashes, many people thought the crypto market will not recover again just like they are thinking now and have been saying on social media, but if the previous crypto crashes have taught us anything it is that the crypto market will always recover and as usual the crypto market keeps coming back to reward those who are brave enough to buy the dip and those that could hold their coin through the bear market no matter how brutal it is. Instead of panic selling, this is another perfect opportunity to buy the dip that a lot of us prayed for during the bull market or bull run, so they can buy more coins at a much cheaper price but here we are now, we have the dip, instead of buying they are now running scared and panic selling.
Scaredy cats and cry babies are not meant for the crypto space because they will keep jumping in and out of trades without thinking it through, they just act on their emotions and react based on how they feel at that moment, which is one of the reasons I like and respect the President of El Salvador Nayib Bukele who despite all that has been said about him and El Salvador investing in Bitcoin, a lot of people have said that the Bitcoin investment is going to cripple El Salvador's economy, he still stands strong and has not panic sold, because he does not let the pressure of the bear market and all the noise on social media get to him and influence his trading decisions.
The president of El Salvador has been tweeting a lot about his love for crypto, the importance of crypto, and the work he has been doing to improve the lives of his people or citizens. And very recently on the 17th of November, he said that El Salvador will start buying one Bitcoin daily and that is what the country has been probably doing every day. El Salvador is the first country to accept Bitcoin as legal tender and it is still a Bitcoin country no matter how hard the International Monetary Fund (IMF) tries to bully them to take Bitcoin off as legal tender besides USD. This is the kind of people we need in the crypto industry not cry babies.
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