Be it the bull or bear market, there's always so many lessons to be learnt and experiences to be gained. It really doesn't matter how long we've been around this space, there's always innovation going on and something new to be learnt from our actions or those of others. I've learnt one tangible lesson since the bear market began and while this might look so little, it has a great impacts on quite alot of people, both new and old investors.
The lesson is to dump all my shitcoins in the bull market and stick to the solid projects in the bear market. Well, I had actually dumped most of the shitcoins I got late last year and held on to a bit just incase the market recovered. Well, I was definitely wrong about that and it doesn't seem like there's gonna be any form of recovery for most shitcoins. They literally have no use and those behind the few I held have been suspected of rug pulling us. Well, I sold more and dumped almost everything I had just when the market was crashing harder and I'm glad I sold off, even if it was late. Looking at their current prices, I'll probably be rekt by now if I had held on.
Don't get me wrong though, some cryptos like Shiba Inu did so well in bull market and our performed quite alot of similar projects (shitcoins), but that really does change the fact that when the bear market comes, they exhibit the reasons why investors should have stuck with projects with great potentials, utility and so much more to offer.
Generally, I've learnt to take profit during the bull market and reinvest that profit in the bear market. Even though I did that, I feel I didn't do it do well or I should have done it better. Now that I know, I can lay out a better strategy for taking profits and selling in the bulk market and also creating a plan for buying back when the market crashes.
What is you biggest lesson from the bear market?
