At the time of the writing, BTC is currently hovering around 20K. Who would've known that the price could dip more than 50% compared to its ATH back in 2021. Except for some Bear Traders maybe.
It is looking rather gloomy on the outlook of the market, especially in those market charts. The fear index is not looking rather good too, with fear spilling out every now and then. It seems that the market is going to capitulate hard with one bad news from the crypto side. Mind you that is not accounting for what FED might do in the upcoming time. Bleak. That is one way of saying the direction of the crypto market is going. Yes, of course, we still get those temporary short relief rallies now and then due to some new updates on favorite projects like Luna and tax burning, etc. Soon enough, the market will do what they do best, correcting itself to the downside. Some of my friends made a little bit of money now and then in the small upside and downside by trading the volatility. But it was pennies in comparison to 2020 and 2021's mega pumps. Some of you might already make a good amount of money that by the time the dip is here, you wouldn't need to be worried as much as those who bought at the top during those pumps. Of course, if you had sold your bags while it pumps.
Maybe there are not enough mentions that the bull will come at the worst possible timing for those who leveraged their shorts and sold their bags too early. Buy high, sell low, a good recipe for financial disaster. It may sound like a broken record, but, it is never out of context - never invest more than you could ever afford to lose. But damn, even hodling USD these days is going to get your REKT. So what is the best way to invest during these challenging times? Who knows. Earning yield is good during the bear market, as BTC might stay at the 19K range for a good period of time. Staking your coins or stablecoins during these periods of time could reward you with a good amount of bounties when the bull finally shows its horn. Some of my crypto friends suggested that we could even borrow stablecoins against the assets that you have - but mind you, this method is for those who really know how it works to be able to come out with a good profit. Crypto is already risky as it is, pitting your assets as collateral is double the risk - if you do not know what you are doing, best to stay away.
Personally, I'm still looking for a way to make good use of my crypto assets to earn some rewards while we wait for the horn to show up. Feel free to suggest some good strategies that have been working for all of you. I would really appreciate it! Thanks for taking the time to read my jibber jabber and I'll see you in my next post!