The life of crypto is perhaps one of the most critical thoughts going through the minds of several crypto communities globally and to this end, the DPAD Team judged it right to provide a market analysis about the much celebrated life of our dear crypto- dead or alive!
Indeed, the market trends in recent times have been really devastating and a lot of individuals have lost their investments, with several crypto holders watching their net-worth diminishing on an hourly basis. Numerous businesses that were deemed “too big to fail” have gone insolvent, costing different investors and the whole crypto market in general, billions of dollars. BTC dumping > 60% from its one-time high of > $66k and ETH almost touching triple digits certainly did not help matters either. It may seem to many as “the last prayer for crypto” as some passionate crypto enthusiasts several months ago have recently joined in singing the “Adieu Crypto” chorus.
Our correlation analysis of historical crypto events, however, has presented some greenlight that this is definitely not the end for crypto. In fact, the bear and bull run is exactly one key reason why crypto keeps gaining popularity and acceptability traction, particularly when compared to the ups and downs that characterized the TradFi space which many financial analysts often love to ignore.
As this is not the first time and while it may be the last bearish run, it is important to identify that adequate research, preparation and following the rules of the game, all- have a way of shielding crypto users from these bumps and dumps-impacts that occasionally pop-up in the cryptosphere.
A quick flashback to the 2020 crash, for example, BTC went from around $10000 to below $3000 in just three days, wiping out billions of dollars from the market. Everybody thought that was the final breath for crypto. Mainstream media also reported that Bitcoin and crypto had died for good and were never going to bounce back to their former glory. A few months later, however, BTC was back at $10000 and even proceeded in its glorification agenda to $65000, a 6.5x return from the 10k top, and a massive 21.7x return from the $3000 bottom. Ethereum, BNB and all the other huge caps performed similarly, regaining their previous prices and soaring to new all-time high prices.
The meat point is that: CRASHES HAPPEN ALL THE TIME IN BOTH DeFi space and the Traditional markets. They are a normal part of crypto dynamics and it is somewhat important for the market to go down so that it can be catapulted much higher. Ultimately, the end result will be very positive and several crypto users will have forgotten that this current crash ever happened!
How to prepare for another bear market
Since we have iterated that bear markets happen all the time and cannot be terminated, it is important that we touch on how to prepare for the bear cycles.
- Always have $USD to buy the dips: Bear markets are an amazing time to get phenomenal returns on your investments. Ensure you always have $USD in the form of stablecoins to buy the dip.
- Don’t be afraid to pick up your favorite projects: Bear markets represent opportunities for risk-takers. Many, if not all altcoins that have been affected by this crash will rally to new highs once the crash is over. If you want those gains, you may have to be bold enough to buy when the prices are low.
- Always apply Dollar Cost Averaging (DCA): Don’t just go all-in into one altcoin. DCA into your favorite ones by buying a fixed amount of the altcoin every day. For example, if you have $300 to invest, spend $10 a day buying your favorite altcoins for a month. Do not just FOMO into one or pour out all your money in a single day.
So, we ask again, “is crypto dead?”. The answer is a resounding NO! Crypto will rise again from the ashes as usual. Essentially, patience is part of the rule and also readiness to stock more coins when prices are down. While the bear market lasts, one good way to live at peace is to join the DPAD hustle group as well as our main communities and participate in our Gaming Nights Shows. This will keep you entertained and you can also win some DPAD Tokens for yourself. Our Spin and Win event is also at the testing stage, but you will do well to join our communities to explore our world of opportunities that remains unshaken and immune from crashing.
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