The cryptocurrency market has undergone brutal volatility in the last few months. In 2017, there was a sudden increase in demand for coins such as bitcoin which surged to $20,000 by December 17, before reducing sharply to the current levels in the $8000 + range. All coins including the top coins have seen a brutal beginning this year. However, the present crypto bear market status could still be a profit-making period for most investors.
A common thinking among the inexperienced traders is that at such crypto bear market conditions, the only thing to do is engage in other activities as they wait for more favourable conditions. However, people can make informed decisions regarding the bear market when the hype is gone. Additionally, these traders can engage in profitable activities that do not require much experience as they await the bull to resume.
For instance, bitcoin investors do not have to wait for its price to increase for them to make profits, the coin needs to move. Any movement can be profitable to the trader provided they are well informed about trends in the bear market. However, the shorter the timeframe, the greater the risk of liquidation but the less time for payment. Such perpetual contracts are offered by Bitmex and Okex and are funded every 8 hours.
Also, one can use this time to research undervalued coins that have the potential of gaining ten times more when the markets rebound. When you carefully examine some of the coins that have dropped 70% or more from their ATH (All-Time High), you’ll notice that the crowd that losses interest quickly is the one to be blamed. Information from social media feeds, and the news could also help in revealing more information on these coins. Other ways of earning in the bear market include margin trading, brushing up on your technical skills and getting a crypto job.
Do you think traders can still earn from the current crypto bear market? If so, what are some of the ways one can earn?
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