Preparing for a Crypto Bull Run: What Should We Expect

by
Preparing for a Crypto Bull Run: What Should We Expect

We frequently prepare for a major bull run in the altcoin space. And while it’s not very difficult to just buy more while you watch the markets, it’s also not easy for everyone to get in at the right time.

We recommend a few strategies here that will help you better collect those altcoins when preparing for a bull run!

Using Extra Sources

You aren’t just limited to buying cryptocurrencies to prepare for a bull run. A lot of them aren’t able to purchase beyond a particular limit due to financial constraints. And they end up losing a lot even though they’re almost sure of a bull run. This is simply bad.

For this, we won’t suggest you go beyond your budget and break the bank. That’s not sound financial advice from any angle. However, what we will recommend is to look at ways to earn cryptocurrencies which you can invest just before a bull run!

  • We’ve seen people dabble in a Bitcoin casino to win cryptocurrency rewards and increase their side income. If you choose a reliable platform with attractive welcome bonuses, sticking to a few games and a budget. You can derive a steady BTC income, which you can then convert into an altcoin of your choice.
  • Almost all skills and trades today have projects where the pay will be in cryptocurrencies. This is true for freelancers like designers, copywriters, programmers, artists, and so on. Use websites like Upwork or Fiverr to land these gigs.

Approach new cryptocurrency projects and offer your skills like SEO, social media marketing, design, writing, development, or testing. They will most likely pay you in a common altcoin. It’s better to work on a sound project as there will be scope for future work when it succeeds. And for this, you need to understand the project through its whitepaper.

Quality, not Novelty

In a bull market, rising prices of large-cap coins trickle down throughout the crypto world. The whole market starts gaining value. But as the bull market matures, gains are restricted to reliable performers with realistic business plans.

We have said it many times already but here it goes again. A good project has a solid team, a good promise, and most importantly, a bulletproof and well-written whitepaper.

Coins that rise only because the best-performing coins led the market upward are sure to stop rising before the bull market is over. They might even start falling once people figure out what’s up or if the developers are too greedy.

Bargain-Hunting

In the early phases of a bull market, some coins and tokens are undervalued and can be bought at a discount. If you can separate the wheat from the chaff all on your own then it’s best. But if not, we suggest you follow the journey of a few promising coins and see how well are they hitting their milestones.

Basically, you are looking for opportunities to buy quality assets at a lower price. At this point, things can get a little risky because crap cryptocurrencies can sound promising too. Again, the devil is in the details. So, go through the team and the whitepaper.

Follow the Experts

Some experts recommend investing in handpicked coins that have the potential for growth during a bull run. There are tons of crypto influencers on Twitter that you can follow, for example. Some communities curate high-quality content such as the altcoin subreddit or certain Telegram channels and Discord servers.

We can’t list out all the experts here and it also depends on what your current preferences are. So we recommend you do your research and be prepared with a list of experts to follow when the bull run comes.

Experts will select investable coins based on their fundamentals and potential for long-term growth. This cuts down on the homework you have to do on individual projects on your own.

Create a Profit-Taking Strategy

It’s important to have a profit-taking strategy in place and look for wise reinvestment options for when the bull run ends. No bull run will last forever and you’d do well to remember that. There will almost always be a high point from where the value of your assets just comes down.

You should have a foolproof strategy for taking your profits and reinvesting them in other cryptocurrencies. Here’s a good plan to follow:

  • Go along with the bull run and at every sign of a down-trend (follow the candles for more accurate tracking).
  • Take out some of your profit (and not the principal amount).
  • Put it in a liquid cryptocurrency that’s more stable like Ethereum.

If it was a false alarm, then you just buy it again. You can accumulate a good hedge this way and one of the times will be an actual end to the bull run, more or less, at which point you take all the rest.

In Conclusion

Investing in cryptocurrencies always carries significant risks. The market is more volatile than stocks and bonds, for example. But as long as you follow the stuff we outlined in this guide, you’ll be in the clear.

Above all else, it’s important to maintain a long-term perspective and not be swayed by short-term market movements. Focus on the underlying technology and potential of the projects you invest in.

– For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

– Manage Your Crypto Portfolio with Regular Updates and Top Insights for only $15/ month. (Hot WEB3 Trends | Undervalued Crypto Gems | Daily Portfolio Strategy)

Sign up here on our Patreon and Youtube.

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Bodog. Copyright Altcoin Buzz Pte Ltd.

The post Preparing for a Crypto Bull Run: What Should We Expect appeared first on Altcoin Buzz.

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Web Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – webtimes.uk. The content will be deleted within 24 hours.

Leave a Comment