Hi friends.
Talking about crypto is one thing that I wouldn't want to do on a good day. This attitude of mine has taken the best of me following an ugly experience I had during the bull run in the year 2020, that may be a story for another day. For this week's prompt, my preparation for the bull run will be as follows but let's first get to know what the term bull run means.
What is Bull Run?
The bull run in the crypto market is the period when the prices of cryptocurrencies are moving on an upward scale. That is the price of cryptos (tokens) like Bitcoin, Ethereum, and other tokens increases in value, and holders of such tokens are selling off their wares to make profits. During the Bull Run crypto price increases and new interested buyers clock the market to buy tokens so that they could also become holders. Stale holders also do buy more tokens to keep their value and wallets bigger than they were.
However, some of the notable steps that must be taken to prepare for the bull run are as follows. I would like to mention that the under-listed points are not formal advice for individuals who want to take part in the next bull run. Hence, personal results or research is what I am considering while putting this post together.
Stay Informed
I have decided to follow up on the latest information in the crypto market to see what is happening and also to see what is happening in the general crypto world by following platforms where such information is made available. Platforms like #Leofinance and #Twitter are where such information is easily spread.
To be abreast of what is happening in the market, one has to check sites like #coingecko, #Binance, and many more specialized platforms for crypto.
Multiple Crypto Communities
One thing I have decided to do before the bull run and to prepare for the bull run is to ensure I take part in many projects and gather as many crypto tokens as possible. Note that when a new crypto is launched, the price is always affordably cheap, giving opportunities to many individuals to buy and hold.
In some quarters there are airdrops. You would be asked to perform a simple task before the token would be issued. This has given a lot of crypto enthusiasts a lot of financial opportunities and freedom.
Set Clear Goals
As a Hive holder, I have decided that I would only change my tokens for fiat only when the price reaches a certain amount. And I have also decided that when the bull run begins I won't sell off all my crypto assets. This is my personal goal and I have been using this idea since I got involved in crypto-related activities.
Watch Out For Scams
Though I have not experienced scam in any form concerning crypto. This may be because I do not go for crypto I did not invest in. This may not be the only reason why crypto holders get scammed. One must not be in a haste to reap where he did not sow, else one may fall to scam.
In guarding against this, I have determined not to follow unsecured links to get rewarded with crypto.
Consult Unbiased Experts
From time to time, I would keep up with experts (we have them all around, even on the Hive blockchain) for prompt updates. This will keep me posted as to what to expect per time as events unfold. These set of people (those who one must have mingled with for quite a reasonable period of time) are always apt in getting the information that is needed and approaches to apply before, during and after a market experience, either Bull Run or a Bearish Market.
Keep My Security Secrets
One thing that will decide whether I still have possession of my crypto or not is the vulnerability of my passwords or security. Hence, I would not get too drunk to begin to share that aspect of my life with a second party. To guard against any unforeseen circumstances that may arise as a result of sharing my security with any person whatsoever, the topic should not even come up at all.
The foregoing are steps that would indicate how prepared I am for the next bull run. And kindly, do not forget that this approach is not recommended to any other individual or group or organization.