Tips for Surviving the Bitcoin Bear Market – Bitcoin Magazine

This is an opinion piece by Boomer, a long-time active member of the Financial Independence/Early Retirement (FIRE) movement.

Deep down we all knew this was coming. Bear markets suck, and they’re especially bad if it’s your first. Every bear market is different and there will always be people who tell you the sky is falling. Please don’t be one of those people. I know the price action has been a bit better over the past few weeks, but while we may not be in a recession (cough cough) (cough cough), things are still pretty dicey there . Personally, I have no problem seeing bitcoin bouncing between $20,000 and $25,000 for a while, but I know how scary those big red candles can be if you’ve never experienced them before. If you bought your first sats in the fall of 2021 when things seemed to be heading towards $100,000, you’re probably feeling pretty defeated right now. I understand; it’s a terrible feeling. This may be my first bitcoin bear market, but I was there for the stock market craze from 2007 to 2009 – the last time I felt like the world was ending – and it wasn’t fun. There are a bunch of self-help articles out there that can guide you through the turbulence of stock market downturns, and I’ve found that most of the advice translates well to bitcoin. Here are a handful of tips that have helped me in the past.

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