Bear Market | How To Survive?

"The time to buy is when there's fear in the streets." -  Baron Rothschild 

Contrarian Investing

The Rothschild Family, one of the richest families in the world, made most of their wealth buying assets in periods of panic when public sentiment was low. A contrarian investor uses the same tactic, by "going against the crowd". 

Even Warren Buffet said, "Be fearful when others are greedy, be greedy when others are fearful." This highlights the key aspect of contrarian investing, you have to control your emotions, and think rationally. Buy assets when they are low, wait patiently, and sell when those assets appreciate in value. The same applies to cryptocurrency.

Bitcoin below $7000?

The key support levels for Bitcoin under $7000, are $6.5k, $4.5k, and $1k. If Bitcoin drops below it's first support level at $6.5k, it really is no big deal. Have you forgotten how volatile this market is? In December 2018, Bitcoin went from $9000 to $20,000 in a matter of days. Try to have a broader perspective on the cryptocurrency market, and think less about current events. Think about past events, and what the future holds in store for blockchain, bitcoin, and cryptocurrency - then you'll see the bigger picture!

Remember, bitcoin was created only 10 years in 2018. The cryptocurrency market is still very new and has a long way to becoming a mature market with stable price levels. 

So stay calm, buy low, and sell high!