As bears dominate and markets slow down, Twitter user DeFi Edge asked crypto veterans who experienced the 2018 bear market, what advice they would give to traders who are facing it for the first time.
In response to the thread, Guy Swann put buying bitcoin (BTC) at the top of his advice list to tolerate market cheaters. Additionally, Swann also told traders to keep their keys to themselves, ignoring the market price and regularly stacking them.
• Purchase #bitcoin
— Guy Swan ️ (@TheGuySwann) May 19, 2022
• Hold your own keys
• Ignore the market value
• Stop gambling on garbage
• Get rid of leverage
• Work
• Stack regularly
• Prepare for Financial Collapse
• Take care of your family
• Use any spare time to learn new bitcoin tools and services
In addition to declining crypto prices, a crypto bear market is characterized by several other factors, including a lack of investor confidence in the market, a continuous period of declining prices, lower highs when good news comes in, and lower falls when bad news occurs. Amidst these circumstances, Eric Vorheso gave advice “Doing nothing” traders.
According to Voorhees, ordinary traders need not do anything because their “seeds are planted” and “the wheat will grow in the spring.” Voorhees, on the other hand, said that crypto businesses should cut spending and ensure they have a “24-month runway.”
Nick Carter also weighs and share His advice with crypto traders. According to Carter, the crypto community needs to put its energy into building the things that people want. He also warned against assuming that everything would come back, saying that “some things die permanently.”
related: Contrasting bitcoin investors identify buying areas, even as extreme fear grips the market
A bear market also often shows many signs such as low trading volume, which means people are holding onto uncertainty, negative comments from crypto hatred and backwardness, a phenomenon where the price of assets in the futures market is much lower than the normal market price. It becomes The big question is when will this end?
In an exclusive Cointelegraph interview, macro investor Raul Pal shared that the bear market could end if the Federal Reserve stops raising interest rates. Investors expect this to happen in the coming months.
