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Historically whenever crypto market has gone down, two types of people ran havoc in the market. One of those were, panic sellers who thinks this is probably the end of the market. Thus getting rid of their assets, thinking let me get the remaining amount before my portfolio goes even further down the gutter. On the other hand, there are those who seem to reap the opportunity of this downfall and collect as many tokens/coins possible to fill up their portfolio in the given time. So that the phrase of "buy low, sell high" seems to perfectly fit in this scenario.
At present, whole of crypto market is going through a rough phase. Panic sellers, FUD and some people are claiming this is probably the end of bull cycle etc etc. Which brings the question of whether we are going through a bull cycle or we are about to enter one or we have already crossed the bull cycle? If I am being honest, with the upcoming events and everything which have happened in the past, I di believe we are going to enter the bull run very soon. US elections alone is going to take it to newer heights. Do not forget about all the fresh money which are entering into market via the ETF's. This will act as a catalyst once we get to see the boost in prices, once we enter the real bull market. FOMO is going to crush people's mind, hence more and more FIAT will enter the market.
What could be done?
At present, I would probably bet onto those projects, which has promising backgrounds. Those projects have strong fundamentals will outperform the older coins. Projects which has a strong foundations such as ZKSync, LayerZero and many more. DCA is probably the best possible course of action at the moment.
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Keep in mind, if bull run arrives in late 2024 or early 2025 those will cherish their bags who have tokens in their portfolio. Without any portfolio there will not be any sort of profits. So better prepare for such time and bag as much token as possible in this current and or any upcoming dips.
Hunting
There are countless projects which has strong foundations, even at the current bear market they seems to be performing surprisingly well. Just imagine, when the bulls hits the market, the scenario is going to be epic. If you can find one of those projects, your bag is going to make you rich! Which is why, keep on hunting those projects and once you find them, you know what to do! ;)
What have you been upto lately? The recent crypto market condition, was it able to change your portfolio? Are you preparing yourself for the upcoming trend of the market? Do share your POV with me in the comments.
Best regards
Rehan
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