We’ve been in a slump for a while now, and by the looks of it will remain in one for a good while longer. How long, how low, and how slow the recovery is anyone’s guess. If you’re reading these words, you’re still here, and thus it’s safe to assume you’re in this for the long haul. Even the most ardent of bitcoin believers is apt to feel despondent amidst the prolonged doom and gloom, but it’s not all bad; in fact bear markets can bestow some considerable benefits.
Also read: How to Get a Cryptocurrency Job
You Discover Who You Can Trust
Crypto Twitter (CT) tends to be bipolar: when things are good, they’re great, and when they’re bad, they’re awful. Right now, things have been so bad for so long that most pro traders have stopped dispensing tips and switched to full-time shitposting. Meanwhile, the less scrupulous “experts” have been quietly deleting all their previous tweets predicting the moon, sun and every other planetary position a crypto asset can conceivably reach. Bear markets are great for discovering who you can trust. The CT veterans you learn to rely on aren’t the ones who’ve never issued a wrong call – it’s the ones who have the humility to admit when they’re wrong, and who refuse to take a lengthy hiatus when the market turns sour you can trust.
True OGs remember Mt Gox and have been trading crypto for longer than 18 months
Bad Coins Die Faster
Bear markets are great for separating the wheat from the chaff. This applies to identifying influencers and “experts” you can trust and it also applies to coins. There’s schadenfreude in watching your most hated altcoins get rekt, or that moon-bound ICO you missed out on
