Surviving the Bear Market: A Personal Journey Through Consecutive Days of -50% Drops. -95% loss even for coins as Ethereum and -80% for Bitcoin.

Hey community,

I wanted to share a personal experience that I believe many of us in the crypto community can relate to, especially those who have weathered the storm of a bear market. My aim is to help you endure any future bear markets (we are probably still in one).

I'm not going to talk about the recent/current bear market, but rather the one before that. Year was 2018. I had been hodling for several years and had invested a significant portion of my income into various cryptocurrencies. Then, it happened, the market started to plummet. It wasn't just a minor correction or a temporary dip. It was a full-blown bear market, with prices dropping by as much as 50% per day for several days.

Many coins, even those in the top 50, lost 97% of their value. Ethereum lost 95% of its worth. To put that into perspective, that's like seeing the value of your tokens decrease by 50% each day for five consecutive days. It was a brutal experience. Everyone was saying that crypto had died. We get worried when there is a 20% drop, imagine those days.

Let's take a numerical journey back to the peak of the last bull market on December 7, 2017. On that day, the total market cap of all cryptocurrencies was around $800 billion. Bitcoin was priced at $17,802.90, and Ethereum was at $1,158.26 a few days later. Fast forward to the depths of the bear market, and these prices had fallen dramatically. Ethereum went down to $84 just 12 months after reaching its ATH, and Bitcoin reached $3,497 in the same time period.

The experience was a reminder of the volatility and risk inherent in the crypto market. It's easy to get caught up in the excitement of a bull run, but it's equally important to remember the potential downside. Many people even went to the extreme of taking out loans to purchase more crypto in the middle of that bull market.

In the face of such drastic losses, it's natural to question your investment decisions. We always say: "don't invest more than what you are willing to lose." It's crucial to remember that the crypto market is still in its early stages. Volatility is to be expected, and while bear markets can be brutal, they also offer opportunities for those who are patient and believe in the long-term potential of cryptocurrencies. Bear markets are also the best time to load your bags. We've seen what happened after that; Bitcoin reached another ATH in 2022 of $65,521. The potential rewards are significant. Patience is key.

TL;DR: The last bear market was a brutal experience, with many top cryptocurrencies losing up to 97% of their value. However, it was also a learning experience, highlighting the importance of long-term investment strategies in the volatile world of cryptocurrencies.