Crypto in times of a bear market
Well, it happened folks.
Trying to explain this bear market is useless. A myriad of factors may have caused the scenario we face today: the threat of a global trade war, a wobbling currency, even a postponed announcementby a key financial institution. No one may not have foreseen how big the dip would be, but what I know for sure is that we can take advantage of it.
As CEO of LEXIT, a marketplace focused on helping entrepreneurs to exit startupsand sell their tech assets, I know that a man’s failure can be another one’s biggest hit.
Beyond buying tokens at bottom prices (or what seems to be bottom prices), focus on building a portfolio that has a longer horizon and is prepared for the worst of times. This is not easy at all, especially if you entered the market because you thought you would reach the Moon in a matter of months. Hoping for another 16’-17’ market growth is ingenuous. As the Great Gatsby learned the hard way, you cannot repeat the past no matter how hard you try.
But you can build an alternative future.
You can choose to extend the dip by hoarding your tokens -or worse-, dumping them into an already overflowing market. Or you can choose to remain calm and learn to be a pro investor like good old sport Warren Buffet. Instead of embracing the hottest currency around, find less sexy but more useful projects to buy into. Look for teams who have spent more time closing partnerships than planning parties (shout out to my team at LEXIT who are busier than ever running our ICO). Buy real solutions which can scale steadily, rather than ones promising explosive potential. And, please for the love of all things Satoshi, diversify and buy into more than just a single crypto project.
I am aware this post was not a fun or super optimistic read to many of you. But when you’re doing business in hard times, sometimes you need a dose of reality without any sweet theoretical BS. Of course, you can do whatever you want with your tokens. HODL, buy or sell your crypto. But don’t rule it out altogether.
Adopting crypto is not for the faint of heart. It is about being willing to become part of a big picture that won’t be truly visible until ten, twenty, even thirty years from now. Even one of the most powerful nations in history had to wait eight years to reach the Moon. We will get there as well, just not tomorrow.
Stay aware. Keep doing research. But most of all, remind yourself that you are part of a history still being written. The future is never crystal clear and, especially in business, most of the best choices you can make for your future are hidden in plain sight today.