Getting excited that you are finally working in your dream job which is crypto and suddenly getting an email from the crypto exchange company that you are being laid off because of the market price crash can be really devastating. I feel so sorry for the staff of crypto exchanges that got laid off because of the crypto winter season. You must have seen the news on blogs about crypto exchanges like Gemini, Coinbase and more laying off their staff because of the crypto bear season. At least most people are beginning to call the season what it is which is a bear season.
Lots of people were in denial to accept the fact that we are in a bear season. The moment we started heading below $40k, I knew we were in a bear season, but I was hoping I was wrong. During winter season, the doubters are always quick and ready to talk about how close crypto death is and here we are in another season. The smarter ones are taking advantage of the winter while some are spending their time complaining about the winter.
2018 Thought Me Better
I am still grateful to have started my crypto journey during 2018 crypto dip. I went from a crypto noob to a Diamond hand hodler in split seconds because, that was all I had left to do. I came into crypto with so much enthusiasm and big hopes of making a lot of money, but I came in 2018 at all time high prices so I was one of the people that started crypto in 2018 buying the top. I watched the value of my portfolio fall 70%, I was hopeful. But people kept on building, I knew people were building because, if you look at some successful projects today, some of them started building during the bear season.
During the bear season, the price of coins get lower thereby making them cheaper to acquire, if tokens were required to build a project on a blockchain and the native token gets cheaper during the bear season, doesn’t that mean that it’s cheaper to build during the bear season? Acquiring more seems like the greatest advise to give one during the bear season, but what if you work for a crypto tech company that pays you in crypto, during the dips like this, the value of your earnings is different because the value of the crypto market has been dipping. So how do you acquire? Well, adjustment in spending comes in so you can save more of your crypto.
Crypto Is Not Dead
It’s easy for doubters to say crypto is dead because it’s down 60% forgetting that some companies stocks are down more than 30%. This year got companies stock like Facebook, Netflix, Apple and Google down too. These companies have been in existence far more than crypto, crypto is still a baby close to these companies, just 13 years old. We are still early and it just begun, as you can see, lots of people are building just as it should be.
I believe play-to-earns were built during the last bear run, 2020 and 2021 were the years they blew and lots of people who got in early during the bear run took profit during the Bull run.
Crypto has a long way to go and as a crypto investor who believes in crypto and the space, the best is too keep hodling and don’t forget that this is not a financial advise.