Those who started crypto in 2017 peak 2018 and 2019 was a hard time to pass as a #crypto holder.
I am writing to share my #GOATMoments of how I managed to survive the challenging times of the 2018 crypto bear market. The year was marked by severe price drops, market uncertainty, and significant losses for many investors. However, by adopting a strategic approach and remaining diligent, I was able to navigate this turbulent period.
First and foremost, I made sure to educate myself thoroughly about cryptocurrencies and their underlying technology. Understanding the fundamental principles and market dynamics helped me make informed investment decisions. It enabled me to analyze projects critically and differentiate between potentially promising ones and those lacking substance.
Additionally, I diversified my portfolio, avoiding overexposure to any single cryptocurrency. Instead, I spread my investments across different projects, both established and emerging. This strategy minimized the impact of any single investment's volatility and allowed me to benefit from positive developments within specific sectors of the crypto market.
As the bear market persisted, I remained patient. Rather than panicking and selling off my assets at every downturn, I focused on the long-term potential of the projects I had invested in. This resilient mindset allowed me to ride out the storm and maintain confidence in the technology's future growth.
Moreover, I closely monitored the market and kept track of relevant news and updates. Staying up-to-date with regulatory changes, partnerships, and technological advancements helped me adapt my investment strategy accordingly. I also utilized risk management tools, setting stop-loss orders to limit potential losses in case of sudden market downturns.
During this period, I actively engaged with the crypto community. Participating in online forums, attending conferences, and networking with like-minded individuals allowed me to gain valuable insights and learn from others' experiences. Collaborating and discussing investment strategies provided me with additional perspectives, reinforcing my conviction in my chosen approach.
Lastly, I maintained a disciplined approach towards investing. I set clear financial goals, established an investment plan, and followed it diligently. By avoiding impulsive decisions and focusing on a long-term outlook, I was able to sustain my financial wellbeing despite a challenging market environment.
Surviving the 2018 crypto bear market required a combination of knowledge, diversification, patience, adaptability, community engagement, and disciplined investing. While the journey was undoubtedly turbulent, it also served as a valuable learning experience that fortified my understanding of cryptocurrencies and shaped my investment strategy for the future.
What is your #GOATMoments in crypto?