I have heard tales of how many individuals lost over 90% of their portfolio after the previous bull run ended about four years ago. This led to regrets and people outrightly leaving the crypto scene for good.
Fortunately, I wasn’t around during the last bull run but i did learn a few things about other people’s experiences and i am trying to implement some safety measures pending the inevitable bear run at some point.
This puts me in a position where i might not go all out during this bull market to make as much as i can. I am not taking too many risks which are needed if you pursue huge gains.
@aceontop mentioned in his post yesterday that fundamentals are dead. I agree to a certain degree given how many of these supposed shitcoins keep climbing in value. However, that's where the money is currently.
If you are going to make a lot of money this period then maybe you would want to follow @grandhibaba’s strategy of buying the rumour and selling the news. This is a popular concept in the crypto sphere but it does come with its drawbacks.
I am sticking to what I have done ever i joined the crypto sphere-- write and support projects i believe in. It has been the most rewarding for me. Although it is not the fastest way to earn a lot of money but to some degree, i mitigate the chances of losses.
Another thing i am doing to stacking a lot of stable coins that i can reinvest when things go south. Then i would patiently wait for the next bull run no matter how long it takes because when it does happen next i would be financially free.
I am also investing in my property so it can provide me with some form of revenue that i can always use to buy the coins of my choosing. I desperately want to get that off my list of things to do because it has tarried for so long.
At the end of the bull run, i want to be stable and have multiple streams of income. Rather than just stacking i want to invest in things that would continuously provide me with daily/weekly income.
So i am not doing anything complicated. I am just being simple and straightforward with my plans for the future. I would like to know what measures you're taking during this bull market to preserve your wealth and your perceived position at the end of the bull run. Share with me in the comment section.