The biggest unknown for crypto investors is what to do when a bear market occurs. We are in the midst of a bear market right now. These bear markets can last for months and even years.
For new crypto investors, the fear is to sell. For seasoned investors, they view this as an opportunity to create wealth and strengthen positions. The crypto whales want people to sell right now and they will buy up your positions. Remember this, you don’t lose unless you sell.
Use this time as an opportunity to look at what you’re currently invested in and where else you can invest. There are thousands of cryptocurrencies out there and there have been thousands that have failed. I have a few tips for people to think about what to do while in the midst of a bear market that I always utilize.
- Research projects that have actual utility. (Utility means that the crypto project you are looking at has an actual purpose and use case.)
- Look at the leadership for projects. Research if the leadership is visible and experienced. This is what the term ‘doxxed’ means.
- Review the project’s website and make sure it looks professional and explains the project clearly and who the leadership is.
- Look for, and read, the whitepaper or litepaper. This is the document that explains and outlines what the project is all about and the project goals and strategies.
While there are no fail-safe ways to determine the success of a cryptocurrency, following these tips will position you for success. That is what brought me to WeGro.
Browsing the website, I saw the breadth of experience, success, and diversity among WeGro’s leadership team. These were the types of leaders that were accustomed to success in the traditional business world and were now actively bringing that innovation, technical knowledge, and experience to the crypto world and blockchain. All of the team had clearly defined biographies that I could research, LinkedIn profiles, and resumes that I could greatly appreciate. After seeing this, I knew I had to dig deeper.
The utility of WeGro is the other biggest component that attracted me to the project. When I read about what the project was doing, it fascinated me. It was a hybrid business model that was traditional business combined with a crypto arm. The project hit on points that attracted me right away:
- BNB Reflections
- Data remuneration
- Expansion of the CAM (Complementary and Alternative Medicine)
- Creation of their own blockchain
Millionaires are made in bear markets! For people new to the crypto world, you are joining at a very exciting time. Following simple tips like I outlined above, writing them down, and then weighing different projects against each other is a great way to help you be ready for the next bull run.
I hope you enjoyed this blog and that you will consider joining me and my colleague Abbey Sklar, Director of Marketing & Events, for Power Hour. We share information and answer all of your questions about crypto, blockchain, and WeGro Coin in a relaxed and comfortable environment for all levels of crypto knowledge! For more information email firstname.lastname@example.org.