Collective Shift’s CEO Ben Simpson Shares 5 Tips To Success In The Crypto Bear Market

Collective Shift is a company that specializes in providing investors as well as traders access to a suite of tools, alongside expert daily insights, opportunity alerts as well as a thriving community.

Ben Simpson is the Founder of Collective Shift and currently has the role of the Chief Executive Officer at the company. Collective Shift was started to help investors and traders access the tools they need to have a better chance of succeeding when it comes to their endeavors.

Why a Bearish Market is Scary for Investors:

A market that is experiencing sustained or substantial loss or decline in value is what is known as a bear market. This is a point in time when the supply becomes much greater than the demand and when the confidence in cryptocurrencies becomes low, which results in prices falling.

It can be difficult to predict when a bear market might end and when a bottom price has been reached for a specific cryptocurrency. Rebounding is also typically slow and unpredictable. Making an investment decision can be scary for investors, but it does not have to be.

How to Utilize the Bearish Market to Your Advantage:

Not all is lost, however. Collective Shift’s CEO Ben Simpsonhas created a list of the top 5 tips that every investor needs to follow in order to have the best chances of succeeding within a crypto bear market.

1. Diversify Your Portfolio

Make sure to spread out your investments to lower your risk. By diversifying your portfolio, you are not putting all your apples in a single basket.

2. Store Cryptocurrencies in Cold Storage Devices

No matter how secure an on-exchange wallet or browser-extension-based wallet might seem, it is always connected to the internet and, as such, always has the possibility, no matter how slight, of getting compromised. Due to this, you should store thecrypto you plan on HODLing on offline, cold storage devices.

3. Do Not Invest More than You are Willing To and Can Afford to lose.

This is the most important rule that you need to follow. Always invest what you are willing to and can afford to lose. Every investment you make has some level of risk associated with it, and the last thing you want is to worry that you will lose everything. Invest what you have as expendable income, and do not compromise your daily life.

4. Be Patient and Do Not Freak Out

We will most likely see Bitcoin (BTC) and many altcoins remain volatile over the upcoming weeks and months. However, they will return in value, just like they did countless times before.

5. Believe in Your Investments

If you do not believe in a blockchain project and in a cryptocurrency, how do you expect others to believe in it and invest in it? Therefore, always do solid research and only invest in projects you genuinely believe have a future.

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