Five essential tips to overcome the bear market
Posted by Chetan Bali on April 24th, 2018
Panic is what usually arises when the prices of the cryptocurrencies undergo a downward trend. As most of the investors would have invested in the cryptocurrencies just in a dream of becoming a millionaire overnight. It is obvious that they do not possess much knowledge as of what actions are to be taken during the market fall. They tend to make very doubtful, ambiguous, and hasty decisions. Even though Bitcoin is showing the bearish trend from a past few weeks. The overall trend is observed to be bullish. So as a short-term trader it is not possible to gain enough profits. But for long-term investors, the returns might be promising.
Also because the cryptocurrencies are potentially being banned by getting advertised on platforms of bigger tech gains like Google, Facebook, Reddit, etc it is a great opportunity for other organizations to take full advantages of it. The market trends seem to repeat the history. In the first quarter of 2018 Bitcoin lost 9.9 billion of market cap and a number of people are piling out due to FUD. There are many ways to make progress in a bearish oriented market. They are as follows.
- Search for suitable coin. Currently, in the cryptocurrency market, there are more than 3000 variants of ICO’s or similar number of Altcoins also. Most of the organizations are launching their own cryptocurrency and ICO’s, to be a part of this revolutionary idea. Hunt for a promising ICO is difficult as there are hundreds of ICO’s which means to attract masses by offering them incentives for quick profits. If the owners of the Altcoins have been involved in illicit activities it is more likely that the coins are worthless. It is our duty to do extensive research on the coin and does not fall into traps. As Altcoins are tending to solve many bitcoin-related problems it is highly probable that they are sure to rise. As the experienced investors know all the nook and corner of the market a good ICO investor foresees the advantages of a particular Altcoin over others.
- Do a lot of technical analysis. A good investor analyses the trends of the markets and invests whereas a great investor puts his technical knowledge to work. One must perform extensive technical analysis on a particular ICO for a steady gain and returns. This bearish market is a suitable time to perform to understand the technical keywords like resistance level, support level, breakout, breakdown, trends and the most confusing Indicators. They are sure to bring profits to the investors over a long term.
- Hodl is the next step. Post investing in an ICO we must believe in our extensive research and Hodl (is a lingo used when we hold an asset even if their market price is falling) the assets even their trend seems bearish. It is also suggested to drop the ICO which doesn't feel promising. Always trust your instincts. Do not let FOMOs and FUDs drive your decisions with them.
- Arbitrage. Arbitrage is nothing but trading swiftly in order to gain profits from the short-term fluctuations. It requires a lot of time and a frequent process of buying and selling of commodities to make profits. Everything comes with hidden terms and conditions which again invoices a lot of uncertainties with it.
- Get yourself doing something on crypto. Ample of opportunities are available for the freelancers small for the full-time workers like content writing, technical positions. We could also start with our own YouTube channel to review various concepts and products of the Cryptoworld which be of some use to the people. It will also pave way for self-improvement as even we get a chance to learn many things.
These are a few Blockchain related companies which might provide you with 5 an opportunity.
- Moneo
- Hire Match
- Blocklancer
- Bitjob
- Ethlance.
- Applancer, etc
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