Drastic financial measures...
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We have been going through a rough time for the last couple of months in crypto market. It is not a new news to everybody. People who are surviving off of crypto has taken a massive hit! Making it one of the worst financial hit for many of us. Do not go else where, I am one of those fellow who has been going through that worst phase. A lot has been happening and the importance of a bear market is now officially known to me. I wish few of the aspects were known to me earlier, before I went through this bear market.
Since many of us are in crypto for some time and had the idea about the upcoming bear market during the past bull. Many crypto hodlers took the measures and just awaited for the winter season to hit us. Since the preparation was complete many just thought of this bear market as an opportunity. So did I! In fact, I was prepared with the amount and needs that I thought was probably enough. But little did I know, crypto had other plans.
Bear market is taking much longer time than I expected
I have made wrong decisions in the past. In fact most of them were for some reasons of survival. I do not regret those at all! While this bear season was probably the difficult one to handle for me. As I knew it was coming but yet before it is going away completely I am still not able to completely survive this winter.
Amateur mistakes! Well, since there is no professional course available in crypto or related to it, going through the real experience makes us worthy of being able to survive in here.
We probably are not aware how long this bear market is going to take. But we all are aware there will be a bull trend in the coming days. Which makes this bear season an opportunity to build. I was mistaken about the time frame of this winter season of crypto. Which is why I have been in the odd position of taking decisions and debt has been a real pain in the ass in this bear market. So I had to get rid of few of the assets of crypto, which is sort of hurting a lot and I wish I would be able to recoup those before the market starts to show its true color in the bull market.
Is it over!
Technically not yet! I am still here right! So a lot can really happen and a lot of improvements can be made. Since there are endless possibilities to survive in crypto. And luckily we have a HIVE account! In addition some of the tips that I have learned over the time
- Have decent cash flow
- Do not be fully dependent on crypto unless you have chunks lying in here
- Buy when everyone is panicking
- Do not take decisions based on gut feelings
- Be wise
- If you have failed just get started again. Since its better late than never
- One just needs one good opportunity in crypto ;)
Hive has been one of my go to platforms! Giving me some very wise ways to get some decent ROI's on my investments. May that it be time or money. This bear has been a very good teacher to me and it has showed me how things could actually go if one gets to plan in the wrong way. Making it one of the worst decisions of life. Nevertheless, it has also showed me how being wise could really turn the tables for me. And guess what, crypto can not be controlled and never ever anyone can say for certain what is going to happen next.
Which is why being prepared for the worst case scenario could be the best possible advice anyone can get or give to others.
Best regards
Rehan
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