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How To Hustle In The Bear Market
The bear market can be an extremely scary place to be in. This is a time where it seems like the world – or at least the market – is crumbling and everything is going to hell in a handbasket. This bear market has been especially traumatic because there seems to be no sanctuary in any industry. However, nothing is ever quite as it seems. For those that have experienced the bear marketlypse before understand that this is the time where you take advantage of the market stagnation.
There are plenty of things we can be doing right now to set us up for ultimate success as soon as the market turns back bullish. Most people don’t know that conquering the bear market all boils down to how you hustle.
During a bear market, the first thing people like to do is run for the hills and disguise it as “taking a break”. If this is your approach, you’re making one of the biggest mistakes of your life.
Staying engaged is key. This is literally the difference between you grabbing a front row seat to financial freedom and potentially prolonging your ascension to the halls of crypto Valhalla.
The bear market is where you get a chance to slow down and really take time to learn the space.
You should be using this downtime to find the projects that are still relentlessly building, and figuring out what could be the next trends to power the bull market in the future. You can only achieve this while sticking around and not leaving at the first sign of trouble.
In crypto, sharing is caring. This is especially true in a bear market.
Your mission is to drown out all of the FUD and seek out the communities that are still focused on supporting strong projects while seeking out
Networking is one of the most valuable skills you can possess in crypto. This space is pretty much impossible to tackle alone. You need friends and aquaintances…..and not just any friends and acquaintances, you need smart people that are well versed in the crypto space.
Aside from portfolio benefits, learning and growing together leads to some of the best lifelong friendships. You want to surround yourself with people that have the same grit, passion, and determination as you do during the tough times.
Even Cathie Wood understands the importance of sharing information.
Master New Skills
Now is the time to double and triple down on mastering whatever skill you’ve been wanting to develop. If you’ve been wanting to become a better researcher, this is the perfect opportunity to roll up your sleeves and dive deep into white papers, team information, Discords, etc.
If you’ve been wanting to become a better writer, this is a great time to start practicing writing thought pieces on a thesis you may have regarding the space.
While prices may be dropping, your skill level will be rising, which is valuable in itself. Not only will this be valuable to you, it will also serve as a value to others.
Web3 is lacking in the talent pool, and this is the perfect chance for you to work on providing something meaningful to the space.
Get A Headstart
A huge benefit of a bear market cycle is that it can almost serve as a time machine for those that are smart enough to treat it as such.
Throughout the bull market you constantly complained about what you would’ve, could’ve, and should’ve done if you only had gotten into the market when prices were low. Well here’s your opportunity.
While most people are giving up on crypto (just like they did in the last bear cycle), this is your opportunity to take advantage of a few of these juicy entry prices that will be popping up.
It is important to still exercise caution and not get too carried away…but sticking it out during the bear market is almost the same as being early. They both produce the same results in the long run.
Preserve Capital, But Don’t Forget To DCA
Now is definitely the time to carefully guard your funds. However, you still want to take advantage of some of the discounts on solid projects that will be popping up left and right.
The best way to participate responsibly is through Dollar Cost Averaging aka DCA. We’ve talked about DCA’ing countless times on this channel, but this is truly the most foolproof strategy that will allow you to benefit from any market swings whether you’re Dollar Cost Averaging in or out of a project (aka taking profits).
The great thing about DCA is that it’s not just a bear market strategy. It works in any market condition.
*Let me add a caveat to this. While DCA’ing is great for the long term, it only works on projects that are solid. If you’re buying into a shitcoin, no amount of DCA’ing will save your investment. You will just continue buying into a sinking ship. Also, during the bear market, this is a strategy to help you fill your bags for the next bullish run. Another important thing is to make sure that you have a consistent flow of external capital (a steady paycheck) before taking part in this strategy.*
Continue To Build
This one is for all of my founders out there. Being a founder/builder myself, I understand all of the struggles, worry, and turmoil that comes along with staying motivated while managing a team during the bear market.
However, now is the time to put your best foot forward, step up as a leader, and show and prove that your project deserves all of the glory that comes along with the bull market hype.
Building during the bear is the best way to put your team and yourself ahead of the game and ensure success. It can also be a serene experience because it gives you time to perfect your product without having to worry about facing the harsh criticism of the crowd while you work out whatever kinks you encounter.
As you all can see, there are plenty of ways that you can “hustle” during the bear market that don’t require taking unnecessary risks. The most important asset at your disposal right now is your time.
If you use that asset wisely, it will eventually result in financial gain. Along with strategically utilizing your time, the most important thing to remember is that surviving is thriving.
This is not the time to get discouraged because you aren’t going to become rich tomorrow. Do what you need to do to maintain your health and standard of living while waiting for the bears to go into hibernation.