How to Make it Through a Crypto Bear Market
In this clip from the Chain Chatter pod, we talk about how to make it through a crypto bear market. Crypto cycles hit very hard. You feel extreme elation when the top is hit... you feel rich to no avail. You feel on top of the world.
Then the crash comes and you wonder how it all went wrong. You may have expanded your lifestyle. You may have taken on debt to buy big things. You may have leveraged your positions.
Regardless of what you did, the bear market is when you need to hunker down, make sure you have the runway in life and business that you need to sustain yourself, and ultimately: keep stacking crypto.
The bear market can make you a fortune. That's where fortunes are truly made. We simply collect our fortune in the bull market.
In this clip,
- Khal: All-in podcast - Create a runway
- Take profits, endure the losses
- Bear markets are to learn lessons, never feel the pain again, now there's defi and stables to store value and earn
- Fund your own development
- The bears might not be over and there might be more pain, so better to have 3-5yrs worth of $
- No runway $ = bad decisions
- Dan: Also down 95% down last bears
- As a founder make sure you have the funds, and a ride or die team that is not easily poached
- It's different to be an investor than a founder, cause you're not making decisions for yourself but for everyone
- Be smart, don't be greedy, take profits
- Have a side hustle to not sell when it hurts
- Humble yourself and be able to make money while the bears
- Matt: It's not about finding a good business, it's about passion and not just the money
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