Bear Necessities
How you spend your time in a bear market matters much more than you think.
You wake up, roll over, and immediately check Coingecko. A sea of red greets your tired, swollen eyes. You close them and wish it was DeFi and NFT season again. Remember those days — waking up early, giddy with excitement, seeing a new ATH on Zapper or a fresh NFT flip on OpenSea? Cha-ching! Alas. Reality hits and a single tear slides down your sad, greasy face.
Ahh, those were the days. Wen again??
Well, your yunt friend Berg has some good news…everything is going to be OK! Markets are cyclical. Moreover, this space isn’t going away anytime soon. The recent Executive Order from the Biden Administration has been largely seen as bullish crytpo as the government looks to define its boundaries. This, in turn, will hopefully give more of a green light to the institutions that are itching to get off the sidelines.
Another little fun fact for you — the sad crypto nerds who bask in a sea of red and continue to wallop in sorrow are doing the complete opposite of what they should be doing in a market like this. With that in mind let’s turn that frown upside down and see what you can be doing to set yourself up to be successful during the next bull.
1. Stay Hungry
When you first entered this space, what was the first thing that you did?
You read everything.
You read it all. You researched protocols and platforms to death. It was all fascinating and you learned so much. You joined Discords and asked devs questions, you did your DD on the team, and you made sure to attend community calls to understand the latest alpha and direction on said project.
When the project that you invested in was in the green, it was a dopamine hit like no other.
I get it, the above requires a lot of time, dedication, and focus. On top of that, the space has grown tremendously since the last bull and it is flooded with scammers, copycats, and just awful ideas. We all want the easy buck but I promise you that by continuing to stay hungry and keeping an open mind, you will find that elusive hundred x bagger lurking in the shadows, and you will look like a genius to all your crypto friends when it comes to the spotlight.
2. Frens, pls
I’m going to be blunt here and give you not only crypto advice, but life advice, anon. It goes like this:
You do much better in just about any area of focus with a group of like-minded individuals that are in sync with your pursuits.
Lone wolves be damned (unless you are Rambo, he was pretty cool). You will always do unequivocally better when you connect and bounce ideas off of a group of people. When it comes to crypto and the range of expertise in this domain, ideating, sharing whitepapers, posting alpha, etc. is extremely crucial to understanding the scope of what is current and upcoming.
I’m not talking about listening to your favorite influencer/shiller (hint: delete these people), I’m talking about forming a genuine connection with internet avatars and forming group DMs or even separate discords.
In fact, this was initially how Yunt Capital was formed. We all met on a Discord, found out that we more or less liked each other (except Sath, he doesn’t like any of us) and we formed a Discord. Little did we know that we actually had an insanely deep set of expertise amongst us and ventured forth into our focus areas with the intent of bringing it back to the whole group for discussion. This helped us really narrow in on platform/dev teams/NFT series that we thought were promising and bam, we yunted in and found those precious ROIs that we all long for. Assemble your squad!
3. Escape the Nerd Nest
At the end of the day, crypto is crypto and like any pursuit, it shouldn’t overtake and dominate your life. Getting out of your nest and potentially… gasp…going outside is crucial to maintaining peak performance. OK, I don’t mean actually going outside but you catch my drift. Recently, we have seen numerous devs and influential people take more of a backseat and/or quit crypto altogether to focus on themselves. I completely empathize with these people because in a space like this where there is no shortage of rabbit holes it is so easy to just burn out.
I personally went through something similar during the last cycle. I had been spending way too much time online and had neglected my personal relationships. For me, it was understanding what my over obsession was doing to others and the realization that I could still be ‘productive’ by having a more regimented schedule. Blocking off certain times of the day when I was in crypto mode vs non-screen-time (it hurts to write that) was a compromise that helped my relationships and my health.
Once you begin to think more actively about how you spend your time online and what ramifications it is having on yourself, you can start to gauge when it makes sense to step back. Scheduling, walks, gym breaks, driving around town, etc. all have impacts on different people so try them out and see what works best for you.
4. Yunter Gatherer
What do you do when you love a project so much?
You double down and invest more capital and energy
That’s right. When the market sucks and you’ve done everything from researching, reading whitepapers, talking to the devs/community, and you are utterly convinced this is going to be big….act with conviction, invest hard, stay engaged with the project and continue to show up. Hell, you might even connect and form a new group!
One thing that is clearly missing from crypto is patience. Yes, this is a human trait that is extremely hard to practice and even more so in crypto. However, patience has almost always paid off in my experience. We are all used to the quick flips or the long holding of 2 weeks. You might be shocked to hear this but 2 weeks is not long — I am talking months to even possibly a year+ of holding on to those ultra-high conviction projects.
One strategy I like to deploy on this is that I have a separate wallet that houses those mid-to-long holds. The separation from my day-to-week wallet for quick yunts vs the long holds keeps me from looking at how my portfolio doing. Essentially, I am trying to forget about the long plays so I am not enticed to make any rash decisions — I am an adult that can’t trust myself and therefore need barriers. I’m the type of guy who can’t buy Oreos from the grocery store because they will all be gone that evening. You might have more self-control than me and I am incredibly jealous.
Bears Turn Bull
I hope some of these ideas have sparked a little bit of motivation as we continue through this bear market. I want to reiterate again how important it is to do something during all of this instead of sulking about your coin prices. Turn that negative thinking into something productive. Putting in the effort on researching, connecting with frens, working on yourself, and being a good community member not only sets you up for financial success, but it also helps YOU which is most important.
You got this, Anon!
Love,
Berg
