About bear season

[WellRozey]

I heard that bear market is the most scary part about crypto now I want to ask a question, how do you guys survive in bear market? Many abandon crypto in such season, miners sell their equipments too..

[Daodex]

Newbies and inexperienced crypto investors are the ones that abandoned the market at such time, there is nothing more beautiful than bear market because that's when the millionaires place their betting cards, bear market has more advantages than bull market.

1. Buy coins at discount price and make much more money few years later.
2. Getting your hands on more ETH through mining due to low mining difficulty is easier.

Bear market is a planning time for the smart ones.

[NeuroticFish]

I heard that bear market is the most scary part about crypto now I want to ask a question, how do you guys survive in bear market? Many abandon crypto in such season, miners sell their equipments too..

Those hit by FOMO and bought at or near the ATH will suffer the most. Some will sell at a loss, some will hold (hence not losing because 1 BTC = 1 BTC).
Some will buy: bear market means cheaper coins for those thinking long term.

Miners... few of those who were using overly expensive electricity may switch off, which means lower difficulty hence cheaper coins for the rest. The network is fine. And while in 2015 or 2016 I've heard about miners switching off, I didn't hear the same in 2019, but I may have been missing that though.

If you're news and/or all your eggs are in the crypto basket, bear market (and crypto winter too) sounds scary. If you think on long term... they may come and will surely go.

[PrivacyG]

Dollar Cost Averaging.  When I run out of cash, I just hold on, sit back and wait for better times.  Panicking or day trading always ended bad for me.

I have seen them abandoning as you say every single bearish run.  Funny how when the bull comes back, they also return with regrets for not purchasing cheaper when they had the opportunity.  Then the market goes bearish, and they run away again.  At the end of the day, it is about whether you set real goals or not.  Most will say they would never sell Bitcoin even under $10,000 and they lie to themselves.  Set real goals, stop lying to yourself.  If you trusted Bitcoin so much you invested a thousand in it, why would a bear market suddenly change your mind?

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Regards,
PrivacyG

[Bitbtc8]

Things started going well for me when I stopped FOMO addiction in me, now I have few set of rules when buying and selling crypto like..

1. Always create your crypto portfolio in bear market with the exact amount you are ready to throw away for longer time till market start turning green again.

2. Never hesitate to take profits when your coins are look good in your wallet, take profit and wait for stronger dips.

HODL isn't that easy but it's possible if you use that money you aren't going to use on the long run, also HODL is easier if you have other source of incomes.

[tranthidung]

Dollar Cost Averaging.  When I run out of cash, I just hold on, sit back and wait for better times.  Panicking or day trading always ended bad for me.

When you run out of cash, where is source for you to spend your expenses? You will have to sell your Bitcoin or cryptocurrency to spend. If you have to sell them in bear market, you will sell in loses. It means when you sell $100 in bear market, its value would be $200, $500 or $1,000 in bull market when you originally invested in them.

I had to do this in 2018 and 2019 as well so my advice for new comers is

• Don't use all your money to invest in crypto
• Have a reserve for your expenses. No matter you like fiat or not, you have to reserve either fiats or stable coins in order to spend in case of bear market

[DevFile90]

Every holders journey always look easy at first but as bear market stays longer they start to lose patience, you want to be well prepared for bear market? Make sure you have other jobs that's enough to handle your spendings in such bad season and only invest what you can afford to lose, you will be a successful holder in the end.

[Lucius]

I heard that bear market is the most scary part about crypto now I want to ask a question, how do you guys survive in bear market? Many abandon crypto in such season, miners sell their equipments too..

On the contrary, it is a time when smart people invest as opposed to those who do it in the bull run. In addition, not all people make a living just from trading Bitcoin, for most it is just an additional source of income in addition to their regular job. Ignorance, complete misunderstanding, and eternal misconceptions are factors that make most people only small fish, which means that sooner or later they will be swallowed by some big fish.

My advice, leave the bears to hibernate, and you drink one beer and start thinking positively

[stompix]

how do you guys survive in bear market?

The same as poeple survived before crypto and the same as poeple survive without bitcoin right now?
The moment you tie your life to crypto in such a way a bear market can actually get you to the point of asking about "survival" then you're obviously way too dependent on a source of income that might evaporate tomorrow.

1. Buy coins at discount price and make much more money few years later.

Yeah, the usual cheap coins slogan that is getting tiresome old.
If you're in deep trouble because of the bear market as your revenues go down how do you magically produce the money needed to buy those cheap coins? If you have money set aside for those purchases then it's clear you don't depend on crypto for living a regular life so the bear market wound;t have any effect in the first place.

Miners... few of those who were using overly expensive electricity may switch off, which means lower difficulty hence cheaper coins for the rest. The network is fine. And while in 2015 or 2016 I've heard about miners switching off, I didn't hear the same in 2019, but I may have been missing that though.

Why 2019??
The drop happened in 2018 at the end of the year and the difficulty did go down:

548,352   2018-11-01 22:54:16   7,184,404,942,701 - 7.18 T   + 0.02 %   51.37 EH/s
550,368   2018-11-17 01:51:24   6,653,303,141,405 - 6.65 T   - 7.39 %   47.61 EH/s
552,384   2018-12-03 13:59:28   5,646,403,851,534 - 5.65 T   - 15.13 %   40.40 EH/s
554,400   2018-12-19 01:32:45   5,106,422,924,659 - 5.11 T   - 9.56 %   36.55 EH/s

[NeuroticFish]

Why 2019??
The drop happened in 2018 at the end of the year and the difficulty did go down:

OK, 2018 too, you're right.
I said 2019 because I think that then it was the bottom and somehow I tend to believe that bottom is more likely for capitulation. But 2018 is also good.

The diff may have been going down, but I didn't see the drama I remember in 2015/2016 crypto winter, when miners did complain on the forum.

[stompix]

The diff may have been going down, but I didn't see the drama I remember in 2015/2016 crypto winter, when miners did complain on the forum.

Because the number of home miners is going down each day and by 2025 we're probably going to be an extinct species, a lot migrated to altcoins and GPU mining so BTC mining is less and less discussed here from the actual miner's point of view, not even counting the number of miners that are still actually on the forum.
I'll give you an example, right now we dropped revenue per TH/s from 40 cents back last April and October to 15 cents,  apart from a few guys in the mining forum who are debating gear prices and revenue drop and what the point of switching for some is everybody is cheering how hashrate is going up  
While bitcoin might still not be in a bear market, mining definitely is.

[NeuroticFish]

Because the number of home miners is going down each day and by 2025 we're probably going to be an extinct species, a lot migrated to altcoins and GPU mining so BTC mining is less and less discussed here from the actual miner's point of view, not even counting the number of miners that are still actually on the forum.

Yes, that's indeed one of the reasons. Also I expect that in those years China based mining was using so cheap electricity nothing did matter on the large scale.
I kinda expect that - maybe in 2029 though - the miners who don't produce their own electricity will also get extinct, no matter how big they are.

I'll give you an example, right now we dropped revenue per TH/s from 40 cents back last April and October to 15 cents,  apart from a few guys in the mining forum who are debating gear prices and revenue drop and what the point of switching for some is everybody is cheering how hashrate is going up  
While bitcoin might still not be in a bear market, mining definitely is.

Yet some do sell.
I'd expect some of the miners simply hold instead of selling under a certain price (or better said under a certain profit).
Every cent the electricity is cheaper for some makes the life difficult for the rest of the miners. I guess that's not a fair fight.

[PrivacyG]

When you run out of cash, where is source for you to spend your expenses?

I do this all the time and never ran out of money for spending my expenses.  I would have to be nuts to invest every single penny in Cryptocurrencies and not save for the other purposes.  Part of my Fiat savings are particularly there for good investment opportunities, including but not limited to Cryptocurrencies.

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Regards,
PrivacyG

[XUR_TIP]

I'm laughing silently inside about new crypto members who thinks that holding coins is a piece of cake, as a matter of fact it's the hardest thing to do in crypto space, if you are rich it will be a lot easier but if you are struggling making some hundreds of dollars per month it will be hard .

1. Responsibilities will call upon you.
2. Bear market will look like it's never going to end.
3. You need to stop watching your portfolio from time to time.

[Issa56]

During the bear season most trader always give up and the always endup selling their coins at lost, most people believe bear market is scary but to me bear market always flush out unnecessary coins which are created from the market, there are lot's of coins now that are really useless bear market always flush out those coins because the won't be able to survive the bear market, only the strong coins always survive bear market. I believe only the newbies should be scared of bear market, bear market always give traders opportunity to accumulate more coins because it is alway cheat.

[pooya87]

It is only scary if you are bag holding altcoins. Otherwise those who have bought bitcoin never had anything to worry about for many reasons one is the fact that bitcoin price always goes up in long term and the other is that bitcoin is still useful as a decentralized censorship resistant currency even if its price drops. However, neither of these are true for altcoins. The altcoins have always gotten dumped over the long term (as you can see from 2018 dump that none of them ever recovered from) and they have no use cases in real world so when their price dumps there is no reason for them to exist anymore.

[Jawhead999]

Bear market isn't only on crypto, it's happen anywhere on any investment asset which mean it's already exist from a long time ago.

How do I survive? keep holding even though the market could be worse than yesterday, but it will not forever. I'm not kind of person who always check the price everyday, I usually check once 3 days or above so I'm not really worried.

[Poker Player]

I heard that bear market is the most scary part about crypto now I want to ask a question, how do you guys survive in bear market?

I keep accumulating Bitcoin. I don't care if it's bull market or bear market, rain or shine. I accumulate little by little to have more and more Bitcoin. It is the strategy known as DCA, although I do not follow pure DCA because from time to time I spend Bitcoin but in net terms at the end of the monty I usually have more Bitcoin than the previous month.

I like it better when we are in bull market, yes (and who doesn't?). It's more exciting to see when we beat ATHs. I also tend to spend a bit more if I see that we are at highs.

But the strategy boils down to the fact that in a month, a year, and 5 years I will have more Bitcoin than I do now.

[passwordnow]

I heard that bear market is the most scary part about crypto now

I don't think it's the scariest part in the market. What's scarier is when you've missed to buy during the dip and selling at the peak or at least close to the peak.

I want to ask a question, how do you guys survive in bear market? Many abandon crypto in such season, miners sell their equipments too..

Just do nothing and keep with the flow. It's normal to get into the bear market and just keep going with what you've planned. I'm not into mining so that's not a problem to me. If it's bear and you're good as holding, that's all you need to do and if you have more fund, invest and buy more bitcoin.

[Lucius]

I'm laughing silently inside about new crypto members who thinks that holding coins is a piece of cake, as a matter of fact it's the hardest thing to do in crypto space, if you are rich it will be a lot easier but if you are struggling making some hundreds of dollars per month it will be hard .

In fact, it is very easy if a person has a strategy and knows what he wants, and it is very difficult if someone changes their mind every day because they believe everything they hear or read in the media. It all comes down to whether someone is thinking in the short or long term, realizing that Bitcoin is more than just making a profit and the ability to see the bigger picture.

It is only scary if you are bag holding altcoins.

While I generally agree that the risk with altcoins is far greater than with Bitcoin, as someone who collected them quite through faucets in the past, I can say that most are worth nothing today - although a few have survived and are worth far more today than 5-6 years ago. But these are just exceptions, a little treasure that one forgets and then appears when you least expect it.