Let me start by saying that I don't think we've entered a bear market. As others have said, I think the dip we're experiencing now is similar to what happened in September 2017 (China fud, of course) during the last bull run, which was a minor blip (crashing from around 5k to 3k) before going on to make a new ath of 20k just 3 months later. But obviously I don't know what's going to happen next anymore than the rest of you.Either way, if or when a prolonged bear market does arrive, you don't necessarily have to see this as being such a bad thing.Thanks to the 2-3 years of accumulating during the last bear market, I was able to accumulate over 10x the amount of crypto that I had during the bull market, even though that 10x was actually worth less in fiat value come March 2020 (I was down 50% after 2 and a half years in this game. Not a wonderful feeling at the time I've got to say). Those painful days, weeks, months and years turned out to be an absolute blessing in disguise. I don't have a high paying job, and I never would have come close to owning the amount of crypto that I currently own had the prices continued to go up and up.The previous bear market put me in a great position entering this bull run. I've even started profit taking for the first time and have managed to take out all of my initial investment while still keeping a significant amount of crypto, way more than I could have imagined in 2017.Just like you, I want to see the prices going up, and would really rather not enter another bear market right now. But sometimes the things we want are not necessarily what we need, and sometimes the things we fear the most can actually turn out to be the best thing that can happen for us.To tweak a Warren Buffet quote:"the stock market Crypto is a device for transferring money from the impatient to the patient.”Bear or bull, patience is the key.Keep learning, keep stacking what you can afford to stack, stay safe and enjoy the ride!
Submitted May 29, 2021 at 05:31PM
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