Bear Markets Are Where Millionaires Are Made
Seeing the crypto market turn red and drop almost by $2trillion dollars should be alarming and scary
But it isn’t to me,
It’s the most exciting time for traders and investors looking to accumulate more and more tokens from their favourite projects,
It’s like Christmas has come early for some,
For others, it’s an opportunity to say ‘I told you so’.
I believe we are entering a golden phase of crypto, a phase which will make the ordinary extremely rich.
‘Bear Markets Are Where Millionaires Are Made’
A very common term used by most in the crypto space during a bear market, but quite frankly, it’s true.
Bear markets strike fear into people, seeing their investments go from all-time highs and into 100% reversals leaving them down can be depressing and stressful.
The smart investors will have already left their positions months ago having realised that we are on the brink of a recession due to extremely high inflation rates worldwide, the impact of Covid19 and an extremely high housing market.
Those smart investors are now buying projects at extremely cheaper prices, far cheaper than the all-time highs of Bitcoin in November 2021. Let’s not forget that Bitcoin & Ethereum are the market leaders, If their price decreases by 50%-60%, altcoins will decrease by 80%-90%.
March Madness
March 2020 was absolute madness, everyone had the same feeling we all have right now.
‘CRYPTO IS DEAD’
‘IT’S A SCAM’
The March dip sent many altcoins to all-time lows, Bitcoin was extremely cheap at $5000 and yet March became the month that turned Crypto investors into Millionaires.
A $5000 Bitcoin soon became over $64,000 in just over 1 year.
That’s a phenomenal return on investment.
Anyone who invested in more affordable Altcoins saw their money skyrocket into the millions.
Here’s a list of Altcoins and their rise from March 2020 to March 2021:
- ADA — $0.03 to $1.50
- BNB — $8 to $350
- DOGE — $0.002 to $0.08
- VET — $0.002 to $0.09
- LINK — $1.50 to $30
It’s important to realise that successful investors don’t buy when the retail gets into the market, that’s when they leave when the extreme greed takes over and everyone’s winning.
Smart investors buy when everyone is hurting and when it’s too risky to enter a position in the market due to the volatility.
“I will tell you how to become rich. Be fearful when others are greedy. Be greedy when others are fearful” Warren Buffett.
March 2020 all over again?
What if I told you that you’ve got a 2nd opportunity to buy projects at the same price as 2020?
Would you take that chance again or would you walk away for it being too risky?
Bear markets strike fear into retail investors however it’s important to look at the positives.
Most altcoins won’t survive a bear market as they struggle to bring in new investors. The quick pump and dumps will disappear whilst paving a way for good solid projects to make a solid run under the radar.
If you find those diamonds in the rough, you could see yourself providing yourself long term financial rewards for some short term pain.
Please remember that someone invested heavily in Bitcoin at $69,000. As of writing this, Bitcoin is currently $29,000.
Regards
Owen
Disclaimer — Always do your own research, Don’t invest more than you can afford to lose. Please do not share any security data with anyone. If in doubt, set a stop loss to protect yourself from volitivity.
