If you ask me, I can tell you for free that there are basically two ways to earn in the crypto space.
1. Buy/ Accumulate as much crypto asset(s) as you can afford to invest during bear seasons and HODL.
2. Trading (Futures trading / Scalping)
Today, i want to focus on the first point, Buy and HODL
You definitely must have read or heard people talk about the bear market as well as the bull market. To put it in simple terms, Bear market is season when prices and value of cryptocurrency assets drop and tendency for massive sell off, that’s the value of crypto assets are at discounted prices. All these are characterized and triggered by maker cycle and sentiments. This is also the season true value of crypto assets are tested.
Bull market is the reverse, a season when value of crypto assets rise and test their all time high (ATH). This is the season of harvest, to reap gains off your investments.
If you have come this far, You will realize the value of your assets has increased exponentially, especially if you bought into the crypto asset at a fraction of its value.
To achieve this goal, the basic rule is to buy the dip during bear season, when prices are low and selling for a fraction of the asset’s true value and “hold on to the asset/ hold on to dear life (HODL), regardless of the market sentiments during the bear season where there could be “fear, uncertainty & doubt” (FUD) and “fear of missing out” (FOMO).
Do no panic sell regardless of market sentiment during the bear market for the goal and target is the bull market, when prices shall rise again.
Conduct thorough research about the crypto asset you which to invest in and understand the market through access to relevant information and updates, before going in.
It’s important to note that cryptocurrency markets are highly volatile and speculative.
Remember, this is not financial advice.
Goodluck!