Are you going to end up buying high and selling low? Market going down is nerve-wracking especially if you joined a project at its peak, sadly a lot of game developers are also not prepared for market trending down, and it clearly shows when the value of their NFT collapses and dips almost 90% from its original floor price, and worst-case scenario, the reward pool is depleting and it can't keep up with the demand, hence it ends up killing the game.
Here at Memetaverse, just like anyone else who invested in Play-to-Earn (P2E) games, we are also a bit worried about other projects that we invested in, but at the end of the day, it is what it is, and we should focus on what we can control, also we have to always consider that cryptocurrency is a high-risk business, hence we are prepared to lose what we invested in.
Without further ado, here are our quick tips to survive in the bear market, and hopefully, we can see some light soon!
- Fix your mindset, this is the crypto market and everything can go up, or go down.
- Accumulate token rewards and HOLD it until the market recovers --- only HODL if you believe that the project can pull it off and survive the bear market.
- Look at Staking options if it is available in the game/project you invested in, it's the best way to generate passive income while the market is still recovering, but again you need to do your research and decide where your hard-earned coins are safest and only expose what you can lose.
In a bear market, investors can feel insecure because of the dwindling value of their assets, and they often look for ways to cushion their portfolio. In the crypto space, one way to increase your security and profit during a long-term hold is "staking."
- Diversify your assets, it's a good time to review and check other games/projects that can survive and grow in any market condition, this is the best time to revisit your portfolio as well, your short and long-term goals in crypto.
- Having a long-term perspective, Bitcoin and/or crypto millionaires are born due to long-term perspective and can withstand the test of time, and as always, you have to make sure that the developer is also in the same perspective and it shows in their actions, not just words! Or maybe it is best to shift in tried and proven cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana, and Cronos (CRO) as your investment.