A bear market is a very long race, get ready: analyst

It’s never a case of giving financial advise before investing, and doing your own study is the best way to go. But wait – what exactly does DYOR imply?

It may imply learning to navigate the market using lessons other people have gained along the road.

When it comes to cryptocurrency, DYOR means delving into the vast world of online resources to get a grasp of the basics before making any decisions.

This is because the digital currency landscape is still emerging, and largely unregulated. So before investing in cryptocurrency, be sure to DYOR.

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.

What does HODL mean?

HODL is a term that originated from a misspelling of “hold” in a 2013 Bitcoin forum post.

The original poster, who goes by the name GameKyuubi, was responding to a market crash caused by China’s then-largest cryptocurrency exchange. BTC China, announces it would no longer accept Chinese Yuan deposits.

The “hold” strategy has since been adopted by many cryptocurrency investors as a way to weather the storm during market downturns.

A bear market is defined as a period where the prices are falling and widespread pessimism dominates the market.

Typically, during a bear market, investors sell off their assets and “panic” trading becomes rampant. As you can imagine, this can result in prices plummeting even further.

According to crypto expert Ran Neuner, that is the key. It does, however, require a lot of patience.

The analyst says that rushing into a bear market might just result in one thing: you lose everything. He goes on to say: Here’s where I think it should be placed:

Remember that “a bull market is a sprint [while] “a bear market,” with all the pain, “is a marathon.”

According to Ran Neuner’s Tweet, it is essential to have a strategy and stick to it during a bear market. This will help you weather the storm and come out on top when the market eventually recovers.

So, if you’re thinking of investing in cryptocurrency, or are already invested, make sure you have a solid plan in place. And, most importantly, don’t panic!

That’s not all. It’s pointless to check prices in a bear market, and Crypto Twitter may not be your friend. Some analysts even go as far as to say that you should avoid social media altogether. According to Ran Neuner in another Tweet.

To stay sane and not give up on your investment. it’s important to remember that a bear market is just a phase and, eventually, it will end.

Projects, according to Binance CEO Changpeng Zhao, must take advantage of the bear market to develop. This is the time for investors to examine projects and concentrate on their fundamentals, according to NeuNer. 

Expert investors will tell you that a bear market provides a chance to buy at a lower price. It’s important, though, to exercise caution since this is also the time. When the market is swamped with worthless coins aimed at new investors.

New investors in cryptocurrency often don’t know what to expect when the market turns south. A “bear market” is simply a prolonged period of price declines – typically 20% or more from the peak.

For many new investors, this can be a shock. Here are a few things to keep in mind if you find yourself in a bear market:

Don’t panic: The first and most important rule is not to sell in a panic. It’s natural to want to get out when prices are falling, but if you sell now you’ll just lock in your losses.

Focus on the long term: A bear market is just a speed bump on the road to cryptocurrency adoption.