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It is best to keep an eye on the long-term trend in a bear market. If too focused on the short-term, you may miss some opportunities that emerge from a broader perspective.
As with every bear market, cryptocurrency prices are currently in a downward spiral. However, it is crucial to remember that markets move in cycles, and prices will fluctuate over time, not just to the downside.
Some traders give in to FUD (fear, uncertainty, and doubt) and start panic-selling assets at a loss, further impacting the prices. Yet, this isn’t the best move to make in a bearish market.
Instead, one of the best ways to benefit from a bear market is by taking the time to grow your portfolio. It is a clever idea to diversify your investments, especially focusing on allocating funds to projects that display robust growth prospects over the long term.
But before you go about diversifying your portfolio, it is vital to consider the following:
Bear markets create the right environment for people to spread rumors. You’ll find a ton of speculation, opinions, and theories circling the web, especially during extended bearish phases. It is common for humans to fall prey to these statements and opinions, which in turn may influence your decisions.
If you come across any news or statement that concerns one or more assets in your wallet, take the time to review the authenticity of the source (and the claim). Although it sounds like a no-brainer, taking control of your emotions during bear markets isn’t as simple as people claim it to be.
Remember that fear and greed are two of the most influential motivators, often
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