Updated: Nov 4, 2022
With the current state of the markets, it is hard want to stay involved in a declining asset class - Cryptocurrency. However, this bear market may be the once in a lifetime opportunity to set yourself up for success beyond anything previously possible.
With Pulsechain around the worlds seemingly longest corner, there is time to understand all of the projects being built on the network long before they ever go live. This means that you will have the opportunity to understand all of the possible investments you could make, how to maximize them, the game theory, and which ones are worth ignoring(if any) long before the majority even find out about them.
With that being said, let's dive in to my 4 part plan to dominate the Bear market - and also stay sane.
Invest as much time and energy as possible into learning projects being built on Pulsechain
Like I previously stated, now is possibly one of the only opportunities we may see in our lifetime. This time before launch is the perfect opportunity to get way ahead of the game and be able to make highly intelligent decisions the moment Pulsechain goes live - For more information on Pulsechain, see my previous blog posts and videos. The question is though, do you know how to learn in this ecosystem in an efficient manner?
I have used a few resources in my journey that really accelerated my learning. The first gem that I stumbled across was cryptopedia.com, an online crypto dictionary where you can search crypto specific words that you stumble across in whitepapers, news, technical write-ups, etc.. Not only does Cryptopedia have definitions, but it also has longer form explanations for many technical words or phrases. I would highly recommend bookmarking this into your browser.
The second resource has been twitter spaces. There are so many Hex and Pulsechain focused people running spaces seemingly 24/7 who are there specifically to answer your questions regarding the ecosystem. If you don't have twitter and do not want to engage on twitter though, I have another option for you: Telegram.
If you have found a product/ project that you like within the ecosystem, chances are they have a telegram group that you can usually fin d on their web page. These groups have some seriously smart people in them who understand the project to an insane depth. They are often involved in the project in some way or are actually a founder themselves. As the project grow in popularity, it can get harder to get your questions answered as more people enter the groups, so getting in earlier can really help you get a great conversation going with some of the 'big brain's' in the group before others snatch their attention.
When it comes to understanding the fundamentals of crypto, there are two Youtube channels that really helped me - and still do - learn fundamentals on a given subject. The first channel, Whiteboard Crypto, can be found here: https://www.youtube.com/c/WhiteboardCrypto . They specialize in illustrated explanations of both simple and complex topics within the crypto sphere and about blockchain technology. The second channel, Finematics, can be found here: https://www.youtube.com/c/Finematics, and also do great illustrative breakdowns of complex crypto and blockchain topics. Make sure to subscribe to both!
Once you've understood the fundamentals, its time to dive in to a specific project and spend as much time as you can learning it until you have grasped how it functions at a base level, as well as how to maximize the use case and any game theory involved. You don't ever have to use it, but understanding a product on this level really helps to understand just how likely a project is to succeed.
So to wrap up #1 on my list, take this opportunity to learn as much as you possibly can while we still have time. Your future self and your wealth will thank you.
2. Take care of your Mental and Physical Health!
Since it is so easy to get completely immersed in learning the new projects in this space and preparing for pulsechain, it is even more important that we make sure to take time to quiet the mind and take care of our physical health. My personal favourite way to let go of all of the noise in the mind after a long day is through Meditation.
I won't go to off into the weeds here, but I strongly recommend sitting still and focusing on your breathe for around 15 minutes every day. A little game I used to play in meditation is this: Focus on your breathe, both the inhale and the exhale, but count each full cycle of breathe that you complete. The goal here is to count the breathe and only allow the number you have counted to be the only thought you have. The number you get to does not actually matter, and you probably won't find you are very consistent at all day in and day out. The point is not to be consistent, or get a high score, but instead to train yourself to catch when you are drifting off in thought and bring your attention back to your breathe. The only catch to this game is that if you notice yourself drifting off in thought and not counting, you must restart when you re-focus your attention. If this game is too much for you or you just don't understand my explanation, try a guided meditation through an app like Headspace.
When it comes to physical health, you don't need to reinvent the wheel here nor should you expect yourself to complete transform. Making small changes in your habits is still a massive step towards healthier living.
I am not a nutritionist nor a personal fitness trainer, so I won't give technical advise here. What I will say, is that by taking care of both your mind and body while you are trying to capitalize on this opportunity in the market, you will be sharper, have more mental stamina, and most importantly be able to control your emotions even a little better. To me, that is invaluable in this sphere, where it is so easy to click the 'buy' or 'sell' button because we get caught up in "the feels". By training ourselves and keeping ourselves healthy, we have a much better chance at making better decisions.
3. Have Patience and Give Yourself Some Credit!
Simply put, Rome wasn't built in a day. We can't expect everything to happen over night and we can't expect ourselves to be able to achieve that. Sure, there are some people who make incredible wealth in what seems like a night, but that simply isn't the reality for +99% of us. Have patience that your hard work will pay off eventually, but just keep moving forward even if it hasn't happened yet. You are here, learning and trying to create change in your life and have almost certainly come a long way; even if you don't have tangible evidence to show for it yet. Don't beat yourself up. Keep moving towards the goal and acknowledge yourself from time to time.
4. Take time away from Crypto to enjoy life as needed.
This one is tough for me. I always get so wrapped up in research that I burn myself out and then can't even enjoy the time of that I've basically forced myself into. Life is too short, make sure you are still taking breaks when you need to spend time with family, friends, or whoever you need to see.
Crypto can be an awfully serious place at times, but one of the most important lessons I've learned recently is to be able to laugh at myself (in a healthy way and not at my own detriment) and the world as often as I can. Laughter really is a type of medicine, and we often don't get true laughter like we can get with people in the digital space.
What is your 10,000x plan for the bear market?
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