It’s never financial advice and doing your own research before investing is the way to go. But then again, what does DYOR mean?
Well, it might mean learning to navigate the market with the help of lessons others have learned along the way.
One such lesson could be how to survive a bear market. In crypto, there is a pseudo-written rule for this – no matter what HODL.
According to crypto analyst Ran NeuNer, that is the trick. However, it takes patience. In comments shared on Tuesday, the analyst says rushing a bear market might only yield one result – you get wiped out. Here’s where he opines:
Remember that “a bull market is a sprint [while] “a bear market,” with all the pain, “is a marathon.”
1/Firstly, come to terms with the fact that the bear market will last way longer than you anticipated, just like the bull market ended way sooner than you predicted. A bull market is a sprint, a bear market is a marathon. Prepare yourself mentally for a tough road ahead!
— Ran Neuner (@cryptomanran) May 24, 2022
That’s not all. In a bear market, it’s pointless to keep checking prices and Crypto Twitter might not be your friend.
2/Stop looking at the screen. Checking prices in a bull market is fun, it re-affirms what a genius you actually are 🤣! In a bear market it will not only distract you from the fundamentals but sudden temporary price declines may also cause you to panic and sell.
— Ran Neuner (@cryptomanran) May 24, 2022
As Binance CEO Changpeng Zhao observes, projects need to use the bear market to build. For an investor, this is the time to check out projects, focusing on their fundamentals, NeuNer notes.
Seasoned investors will also tell you that a bear market provides for a buy-the-dip opportunity. However, it pays to be careful as this is also the time the market gets literally flooded with meaningless tokens targeting new investors.