What Is a Crypto Bear Market and How to Survive It

The issue with a whole lot of people is the fact that they fail to actually understand how the crypto works most especially the crypto market. A whole lot of them just rushed to the crypto space probably because of the hype they have heard about it and at the end of the day, they get disappointed because it is not what they predicted it to be.

I personally, how I wished I understood the crypto market fully before diving into trading. I also make the same mistake. I just rushed to it because I was hearing that it is really making a whole lot of millionaires.

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When it comes to the crypto market, I have come to discover that it is like a roller coaster, it goes up and down. Sometimes, it goes very high, and people make a lot of money. Other times, it goes very low, and people lose money.

One of the worst times in the crypto market is called a bear market because that is when the market price goes down and people make the least profit. Today I want to talk about how you can effectively overcome the crypto bear market when it comes.

A crypto bear market happens when the prices of most cryptocurrencies fall for a long period of time. This can last for weeks, months, or even years. In a bear market, there is fear everywhere. Investors are scared. They sell their coins at low prices because they don’t want to lose more money.In simple words, a bear market is when the crypto market is “sick.”

The value of coins like Bitcoin, Ethereum, and others keep dropping. People stop buying. Many give up. Some go silent. Everything looks dull. I have been in that shoe several times. Whenever the price drops massively, I feel like giving up because imagine you buy a coin at $100 and suddenly it drops to something like $20. It can really be so frustrating.

The issue is many of us have even been hearing about the bear market but we don't even know what causes it. Let me talk about it briefly. The first factor that leads to the crypto bear market is bad news. What do I mean by that? News like government bans, exchange hacks, or strict crypto regulations can make investors panic and sell their coins.

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Not only that, even global economic problems can lead to it. When there are financial issues in the world, like inflation, war, or high interest rates, people fear investing in risky assets like crypto. Then the last cause is when there is a massive whale action. Whenever Big players in the market (called whales) can sell large amounts of crypto. This can crash the prices and start a bear market.

Now how can you survive the crypto bear market when you find yourself in one. The first is that you should not panic sell. What do I mean by that?Many people make the mistake of selling their coins when the market is down. They do this because they fear it will drop more. But selling at the bottom means locking in your loss. If you believe in the project, it’s better to hold and wait for recovery.

Another thing you should do during the crypto bear market is that you should reduce your risk. How I wish I knew this earlier. Don’t invest all your money in crypto. Use only what you can afford to lose. In Nigeria, it’s important to pay your bills, buy food, and save in naira or stablecoins before taking the risk to invest.

You should also learn more about crypto. Bear markets are a good time to learn. Study about blockchain, DeFi, NFTs, and how the market works. Follow good YouTube channels, read articles, and join crypto communities. The more you know, the smarter your decisions.
You should also make sure that you diversify your portfolio. Don’t put all your money in one coin.

Try to spread your investment across strong coins like Bitcoin, Ethereum, and a few altcoins. You can also keep some in stablecoins like USDT or BUSD to avoid heavy losses. Lastly I will add to it that you should watch out for scams. During bear markets, scammers will try to trick you with promises like “double your coin” or “get rich quickly.” Avoid them. If it sounds too good to be true, it is a scam. Be wise and protect your wallet.

As I conclude, I will like to add that a crypto bear market is tough. It tests your patience, knowledge, and discipline. As Nigerians, it can be harder because of our economy and daily struggles. But with the right mindset and careful planning, you can survive and even grow during a bear season. Remember, the bear market is not the end. It is a time of preparation.

Learn, adjust, protect yourself, and wait. The bull will come again, and those who stay strong will smile.Crypto is not a get-rich-quick game. It is a long journey. So, stay safe, stay smart, and stay strong.