Unconsciously, 2022 is coming to an end. This year, people have witnessed too much "history", ranging from three arrows to LUNA, and then to FTX. When unilateral decline occurs, a series of risks and thunder often appear, but it also reminds you of the cruelty of the encryption market. The following content will answer for you.

1、 Bear market decline

A bear market is not only a decline in the market, but on the other hand, we also see that many projects still go deep into the blockchain, which is very different from the last bear market. It also shows that the blockchain makes more people worthy of in-depth cultivation. The project side does not shrink, which also represents the capital's view on the blockchain. In 2022, the financing frequency and amount of investment institutions for blockchain projects have not decreased, which also represents the views of institutions. Although the market is a bear market, it is not particularly serious, At the same time, the share of Bitcoin has further declined, people have more recognized stable currencies, and stable currencies such as USDT/USDC/DAI have also gained a lot of market shares. The concept of soul bound token SBT Ethereum merger has become a topic of concern. After the merger, Ethereum miners were forced to dig ETCs, and some even shut down directly. The mining industry also experienced great turbulence.

The stock market is like this. It is impossible to have several giants at the same time, and one must exit, so as to ensure the smooth development of the industry. The FTX outcome will be tragic, but it is also an irreversible loss. It is very necessary for blockchain players to firmly control their own currency.

A bear market can no longer be as busy as a bull market. In fact, for blockchain users, if you focus on transactions in the bull market rather than using blockchain products, you can experience the bear market. Here, we summarize the survival guidelines that need attention in the bear market for your reference.

Reduce transaction frequency

Exchange thunder, hackers stealing coins, project parties and rugs are common cryptocurrency risks. Although people hope to reduce the risk of the encryption market through various ways, it is still not completely solved. DeFi reduces people's dependence on the exchange, but all kinds of authorizations have left a deep shadow. This not only exists now, but will continue to exist for a long time to come.

For bearish users, it is important to learn to stop paying attention to the market. Most markets in bear markets are horizontal, and only a small part are in a state of rapid decline. It is very difficult for the market to have trading opportunities, and excessive attention to trading will become a loss taking.

Most transactions in bear markets do not actually make money. Reducing the trading frequency is to establish your own trading mode and wait patiently. For example, when you set a decline at the end of the year and hit the bottom, what you need to do next is to wait patiently until the real decline. Or you can set your weekly/monthly fixed investment and strictly implement it. At this time, the price may not be everyone's concern, but frequent transactions, even if they make money, will take a lot of energy. In fact, it is not worth it.

2、 Patient experience of decentralized products

The rise of the DeFi meta universe and gamefi is actually another direction to be concerned about. All kinds of decentralized applications built on the blockchain are revolutionary. If you only consider the token hype behind these decentralized applications, you will obviously miss a lot of things. If you really experience and use them, you may find the convenience brought by these decentralized applications. Therefore, if you are keen on speculating in a bull market, you might as well settle down in a bear market and experience these products.

Uniswap, 1inch, dydx, ens and other projects are actually one of the good evidences of user airdrop. Potential airdrops encourage people to use these products to develop the habit of "decentralization".

At the same time, in the bear market in the past, the transactions on the chain also declined significantly, but these decentralized applications can make up for these problems, and may also lead to the existence of value behind each transaction when the cost of the transaction gas on the chain rises. Therefore, the increase of the transactions on the chain represents the increase of the value on the chain. Therefore, the blockchain is no longer empty talk, but really useful.

3、 Stay interested in new things

In fact, many new things were born in the bear market. There is not much real innovation in the bull market, because everyone is talking about concepts and visions. The bear market is usually a direct function that we can use directly. Another focus of the bear market is to be interested in new things. It will be hot in 2020. In fact, DeFi already exists in 2019, but many people have not noticed the changes brought about by decentralized finance, thus missing the opportunities. NFT and GameFi were born in a bear market, while breaking out in a bull market is such a top project.

summary

To sum up, from this perspective, it is necessary to remain interested in new things. At the same time, we cannot just look at new things on the surface, nor can we quickly draw conclusions. At the beginning of the birth of new things, there are often many problems. Its development requires a certain process, which is not achieved overnight. Early conclusion often reduces people's judgment on things, and maintaining interest is also an important factor that will not miss opportunities in the later period.