Remedy for bear market pains

As with anything, all good things must come to an end. With any crypto project, there are certain to be bull and bear markets that influence the coin/token price.

Experienced crypto traders have come to know and anticipate these market trends. Spotting patterns in charts and making price action predictions are key for them to avoid getting rekt. New traders often learn these lessons the hard way, and with the recent plunge in crypto prices, you can bet many just did.

With Bitcoin tumbling to $56k from its recent ATH of $60k, some are predicting that the crypto bull run is over. It’s surely up for debate whether or not the surge in Bitcoin and other cryptocurrency prices are over, but what can traders do during a downward trending market?

Bear market preparations: pro vs novice traders

Those who have navigated crypto charts before are well aware of impending declines in price and how it may affect their investments. Typically when the price of Bitcoin falls, the price of altcoins may follow the spiral as well. Price has an impact on buyer confidence and experienced traders know this.

Less-experienced traders often struggle with assessing marketing trends or may lack time to do so at all. Their portfolio takes a heavy bruising and they are quick to sell off at the wrong times.

New traders may lack the time to learn and develop their skills (pro traders have spent years perfecting their talent after all). Tracking crypto trends via TradingView and other charts will also eat massively into your time.

So what can a newer trader, or one who lacks adequate time, do to safeguard their portfolio?

Using trading bots to protect your crypto

For any crypto trader who suffers pricey defeats, it’s beneficial to have some backup. This “backup” of which we speak is algo trading bots. Having a great set of bots to manage your trades is a great way to prepare for market downturns.

Trading bots are typically thought of to be profit-generating machines that you can place on autopilot. While that is a major attraction of using them, they also do a great job rescuing your portfolio before it’s completely gobbled up in a bear market.

Algo trading bots are on notice 24/7 and ready to batten down the hatches when a market storm is brewing. The crypto market doesn’t wait for anyone, so it’s handy to have some bots minding your crypto portfolio.

Let’s take a look at how the BTC Optimus bot performed when Bitcoin tumbled from 63k to 52k. If you view the 2nd trade down from the top in the below picture, you’ll see it stopped out once Bitcoin hit 61k.

This example showcases how a bot can accurately interpret a market downturn and do what’s necessary to limit losses on your portfolio.

While trading bots are great for accumulating profits, they can work a double shift to also protect your portfolio. To start safeguarding your crypto assets you can join our free MVP platform and begin using BTC, ETH, BNB, and AVAX bots.

The crypto market doesn’t care who you are or what you’re doing so it’s never a bad idea to be prepared.