As you probably read from our daily crypto news today, Bitcoin and the rest of the market are proving that Santa doesn’t exist (at least today) with their steep fall this Christmas. And while we should all cope with the losses of Bitcoin, Ethereum, Ripple, Bitcoin Cash and other altcoins, it’s better to think of a strategy for investing in a bear market like this.
Below, we are listing the best tips to make most of the current bear market.
First on our list is the technique known as short selling or “shorting” which happens when traders predict that a market is going to decline. If their prediction is correct, they benefit from it. If the market moves and the prices go down, traders can re-buy the asset (which will be cheaper) and make profits.
Every trader learned what HODLing is this year, triggered by the downward trend of Bitcoin and other altcoins. And if you don’t know, ‘HODL’ basically means “Hold On For Dear Life” meaning that investors should not sell their coins even if the market goes deep in the red.
Buy Low, Sell High
Investors are drawn by profits. One of the best ways to make profits is to buy at lows and sell at highs. Now, even though no one knows if these are the bottom lows for the market, the risk is sometimes worth it.
Last but not the least is a strategy known as diversification, which basically revolves around buying more than one coin and diversifying your capital while keeping more cryptocurrencies in your wallet. This can increase the chances of making a right call.
Time to trade, folks.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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