Types of Traders in the Bear Market
We come to another quiet period in the market, and while it’s all fun and games when everyone is enjoying the pump, it’s always interesting to see how people react to the dip.
What type of trader are you in the bear market? Are you the ‘rush into the bloody throes and stake your flag in the ground by doubling down’ type? Or do you stick your head in the sand and completely forget about the crypto world altogether? We break down four common types of traders that we see in the market during this time– do you recognize yourself?
(Of course don’t take this too seriously… we’re just saying).
1. The FOMO Uncle You haven’t given up, in fact you’re stacking stats and taking it as your mission to educate your friends and family on what to buy on social media. After all, they might have missed out on the previous rounds, but here’s the opportunity for them to get into the game at such an opportune moment. You’ve benefited from this space, and it only makes sense that they should too. You might not be as influential as the KOLs that you follow religiously, but your charts are legit, you have a track record to prove it.
The market is tough, but when you act fast and continue to monitor, you still can make money in this market. It also helps that gas fees are significantly lower than what they were!
2. The Zen HODLer It comes and it goes. What you spend doesn’t rely on your digital asset holdings after all, and you’re in it for the long haul. This is the technology that will change the world, and if you pick up a little something during the next bull run, that’s just the icing on the cake.
You take the time to dig through and read up on as many industry projects as you can. You may not be willing to put in money for the time being but you want to be sure you’ve done all your research for when the time is right.
3. The BTC Die Hard There’s only one to go, and you had what was coming if you bought into the scam alt tokens. Afterall, Bitcoin was what started it all. Who would want to risk it with all these rug pull projects?
You delete all your trading apps, tracking apps, and mute all notifications on your phone and log out of whatever remains. You read the news, and know the market is going to hell, but it’s different from looking at the red percentages for your portfolio. It’ll go up at some point, and you’ll reinstall everything then.
4. The Emotional Trader Buy? Of course you couldn’t help it when everything was going up! There was green across the screen and everyone was talking about how much money they were making. To the moon to the moon! But now that we’re seeing dips in the double digits every single day, doesn’t that just mean it’s the end of crypto? What if it never goes back up? Thank goodness you made some money back then. Who cares that you just lost some of your profits, you got out before it dipped any more. But who knows, maybe you’ll get in the game again if things start getting better again.