What do you intend to tell loved ones about the bear market?

[Zaguru12]

I am very sceptical about advicing friends and families to invest into crypto currency. When a bad lose happens one takes the blame for it. I have only discussed about how bitcoin could save us from banks centralisation but I hardly discuss the profit part of it. So if I could advice a love one already involved in bitcoin I will say it is the period to be patient and not rush off selling ones assets. It is also a period to buy more for investors planning to add more

[tjtonmoy]

I live alone all by myself. So there's nothing to tell to anyone. But I have friends who are involved in crypto. And they know the situation well, what is happening and what will happen in the future. I am glad that I don't have to explain this to them, as they already know about it well.
Unfortunately they are not in the forum as they only trade and not much interested in forum. I have tried to get them here but they are busy with life and work. One day, maybe.
But this post is interesting. I'm here to read other's reply. LOL

[ajiz138]

I have said before that investing in bitcoin is risky, you can start but you have to be mentally strong to face bear markets and other situations.
Even though I have an excuse because many friends have invested in bitcoin, I have explained from the start how bitcoin works in the market, not only in bullish times but also in bearish ones. We must be prepared to face all of them, especially in their mental pressure.

At dinner I talked to each other with my friends and talked about the bearish market conditions, but fortunately they already understood the current situation. I didn't get any pressure except that they both said "HODL" and never sell bitcoins that have been traded. owned because in the future it will definitely go up again and my friend also understands about the bitcoin cycle which always has a good history.

Actually I'm still happy that bitcoin is still at its lowest price, meaning that I can still get as much bitcoin as I can buy with dollars.

[Bitstar_coin]

I don't think it should be that had to explain to family and friends the two circles in btc i.e the bull and bear, once they understand these, they will be prepaid or understand the reason why the price always fluctuates.
No one should be made to believe that BTC will only increase price without any correction, it is better to give this information from the very beginning to be aware of the risk involved. 

[serjent05]

What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?

If the price is falling we can say people are cashing out to buy gifts and family needs during festive, and if the price is increasing then we can say, people who got their bonuses are investing their extra money to Bitcoin.  Honestly, these kind of explanation are just assumption, we never know the real reason unless we do a survey to everyone but the thing is the demand and supply often give us hint on what speculative reason we have to say.

They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?

To get ready for them then we have to do our own research, see how the market performs this year and read speculations and predictions and select the one we think is the most likely to happen in the future.

[BIT-BENDER]

If you have told someone about bitcoin and also told them that it’s acting volatile and has had so many bear market times and the person you introducing Bitcoin to is still interested then I don’t think you should worry too much.

But is bear,  Bull and investment all you tell people about Bitcoin? Then you aren’t even fit to tell people about bitcoin because you don’t actually know about it. Teach people all about bitcoin and all it can give them aside investments.

[Smartvirus]

I think it's a very simple thing to do. At least, they could see what's going on in the market with there very own eyes. I have a family member I brought in and not for once has he dared or bothered me on the on going bear market. That's simply because, he understands.

Where most of the errors are made is bringing in individuals with the get rich quick ideas, people who only see cryptocurrency for what they could acquire and not the risk that surrounds there choices. You ought to make them understand that it's not all rossy out here and they could lose too and lose big.

It all depends on what they are being told at the initial phase of being introduced. Should you have projected the lose more, then it would be a lot more easier to explain what goes on in a bear market. Best to let them know, they don't lose if they don't sell. When it happens to be alts, then it might either be a matter of cut the lose or be ready for whatever becomes of your investment. Its just that simple, the market is in phases and the bears offers you a buying opportunity so, don't lose by selling instead, you buy and hodl.

[Obari]

Actually I don't do more of talking but rather encourage them because most persons I've convinced into joining crypto, were all well educated of the risk involved because just as I told them to buy now as the best time to buy since we're in bear market, I always make emphasis on the fact that just as there are possibilities of you waking up to double the price of your capital, same thing can also happen and you'll wake up with a blown account ad that is why it is referred to as volatile and with this alone I've shaded away a whole of talks because what ever they do after this plain truth is now at their risk and nothing is guaranteed over here.
I also ensure to teach them how to study the market and do almost everything by themselves.

[romero121]

I just make them understand the ongoing situation as well as the growth that have taken place through years. So, they'll understand the growth as well as the drops that have happened. It makes them clear that bearish and bullish move out of the market is common thing. It is our responsibility to get adopted to the market and find possible chances to make the best amidst the market situation.

It is always advisable to spend what one can afford to loss, and it is a must to understand one's need, and the ability to hold before making an investment. Because, only the person who have the patience and ability to withstand experience the success.

[lalabotax]

The say that Bitcoin has Bearish and Bullish cycles. So it's not just about FUD and various negative news, but indeed now is a bearish market where the price of Bitcoin will continue to fall to its lowest point, which we can't predict. Also say that in this Bearish era investors usually do DCA, to buy Bitcoin in several price stages. So that investors are able to collect more Bitcoin at a low price. However, one thing that must be done by investors is that they continue to be patient with the current conditions. The new market will start to rise usually after the Bitcoin halving period which will probably happen around 2024. Indeed, we have been waiting a long time for a bullish while the bearish period is very long. However, this does happen in the crypto market. Don't panic and stay patient. As long as we hold Bitcoin, it will be safer than altcoins.

[GideonGono]

Whenever I have some relatives or even close friends who would ask me some crypto or market related question,
I would just explain to them what I know about it in the simplest form that they could also understand.
I have some non-crypto friend or relatives who are interested in it so I would just give out example that they could easily understand.
The key to it is knowing how much they know about the topic.

[Harambe]

The bear market is surely coming to an end. In the past couple of months from around 10 crypto related news approximately 5 had a negative tone, 4 were neutral, and 1 were slightly positive. It's a good indication for the market cycle. The capitulation already happened. It can hardly be worse than this. So this is the best time to accumulate. 2023 should be similar to 2019 in terms of price increase.

[JoyMarsha]

There is a technique to follow someone in anything that requires money. When financial issues arise, my family members can occasionally be dramatic. When they haven't inquired, I wouldn't dare to start educating them (family members) about bitcoin. However, if they were interested, I would inform them of the risks associated with bitcoin and what they need to know about it. I don't want to put myself in a position where a family member accuses me of causing their or future cryptocurrency misfortune.

[Fundamentals Of]

If in 2021 you've already explained Bitcoin to them without bias, I think there is no need for further explanations now. They must have already understood that there is a bull and bear cycle in Bitcoin. The price jumps high and corrects and then consolidates and bounces back up again. That's the reality with Bitcoin. If an ATH is reached, that's when you consider selling. And when the price falls hard, that's when you consider buying.

But if in 2021 you only hyped Bitcoin because it went as high as $69,000 and didn't briefed them of the reality of Bitcoin's price, then they aren't aware and possibly caught by surprise. You really need to talk about it today, that it is normal and there's no need to panic. If at all, they would even consider stacking more while the price is cheap.

[Bazzu]

what I will tell my family or friends about the bear market, of course I will say to my family or friends, that is, we must be strong before we make a profit, and must have positive thoughts, because if we sell during a bear market it is a big loss. and also in investing in bitcoin and crypto. we have to take the risk. that is
loss or gain.
 and I will not relate about the conflict between Russia and Ukraine.
because from the past also bitcoin and crypto cycles. it is like now. that is, there are ups and downs.

[hatshepsut93]

My relatives are more bullish on Bitcoin than me, they are convinced it will go up and up and constantly tell me to save the coins and don't sell them now. But even if it was the opposite, I wouldn't be bothered, because I only invest my own money and never any money from the family budget or something like that. Remember the golden rule of investing "invest only what you can afford to lose". Sometimes the "you" part must also be stressed.

[michellee]

If I were asked about the state of the bear market, I would reply that it is time to start investing in crypto as most of the coins are dropping in price so people who are new to crypto can start buying it and making it their investment. But they have to have a plan on how they are going to start buying it and I always recommend buying crypto gradually so that in the event of a further decline, they can keep buying cheap. And I advise them to stay calm and always watch the market to find ways to buy at a lower price.

[TOM B]

During the 2021 era bitcoin price flourished and many investors made lots of profits, out of love for our family and friends it’ll be improper not to preach the crypto gospel to them. Even when they’re asking so many question and ready to invest into the market to earn like every other person did. Though I could remember, sometimes last year, telling the writer of my project who asked multiple questions about bitcoin not to buy bitcoin at 50k as he may not gain profits yet. Some of us may have inspired their loved ones to invest into bitcoin. What do you have in mind to tell them about the falling price of bitcoin during the Xmas Dinner?

Coin market cap made an article about this and how to explain things in details for them to understand. Beginning with the Terra fall, Three Arrow Capital, Celsius, down to FTX who tried to save the market, but ended up tearing the recovering bitcoin price apart. Don’t forget to add the Russia-Ukraine war as an attribute to the bear market.

What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?

They’ll be lots of questions to be asked by our family members who invested into cryptocurrency last year, how do we get ready for them?


https://cointelegraph.com/news/xmas-dinner-table-what-to-tell-your-family-about-what-happened-in-crypto-this-year

It is because it is a bear market now, so I told my friends that I can buy some bitcoins appropriately. Although I think this is uncontrollable, I still have confidence in the market. I think this is the right time to enter the market Yes, I know they may lose money, but I still don't want to be a person who doesn't care about others.

[YouYou0321]

I will not tell my relatives, because it is difficult to make a correct judgment without entering this industry for a certain period of time, and 99% of people who enter this industry have to experience a very cruel side. Some people can still stand up, and some people will completely collapse Down.

[Accardo]

Also please stop using the word "gospel" when telling people about crypto/bitcoin.

That has been corrected, though I've never used such word to address cryptocurrency to anybody. However, didn't know how it makes some people feel just added it to my thread to better explain the write-up.

What are your contributions to the right answers for people who ask questions like why the market price is so affected during the festive period?

If the price is falling we can say people are cashing out to buy gifts and family needs during festive, and if the price is increasing then we can say, people who got their bonuses are investing their extra money to Bitcoin.  Honestly, these kind of explanation are just assumption, we never know the real reason unless we do a survey to everyone but the thing is the demand and supply often give us hint on what speculative reason we have to say.

You've got a nice response, but the bear market started long before the festive season. It's just a clear fact that cryptocurrency has no specific time to go bullish or bearish, because this was the period the price started moving up in 2020 then skyrocketed in 2021.