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Which cryptocurrencies should you hold in the bear market now?

 


What does a bear market mean?

A bear market is a term used for financial markets and describes when a market is dealing with a trend of falling prices and values. In a bear market, the values ​​of the listed assets in a market fall sharply and the investment climate is very negative. Mass sales of assets occur, resulting in sharp losses in asset prices.

Traditionally, a bear market is said to be when asset values ​​have fallen 20% from their highs. With the crypto market, however, we have to apply different standards. This is because cryptocurrencies are much more volatile than other forms of financial investments. A bear market often results in losses of 70-80% and a lack of a short-term recovery in prices. Such is the case with the crypto market in 2022.


What does the bear market look like in 2022?

The crypto market is in a bear market right now and most cryptocurrencies have fallen sharply over the past few months. In November, most major cryptocurrencies hit their all-time highs. These included Bitcoin and Ethereum, among others. 


Since November, we have seen heavy losses for most cryptocurrencies. Bitcoin has lost between 75-80% since November. Ethereum lost more than 80% since this month. We can therefore say with some certainty that cryptocurrencies have been in a bear market since November.


What do cryptocurrency bear markets typically look like?

The crypto market keeps switching between bull and bear markets. The market has so far always stuck to certain cycles. These cycles are determined by Bitcoin . Most other cryptocurrencies follow the development of the Bitcoin cycle over a medium to long-term period.


The course of the bitcoin follows the cycles of the bitcoin halvings. In a halving event, the rewards for mining a bitcoin are halved. Mining and thus the "creation" of new bitcoins becomes more and more difficult over time. After a halving, the bull market started again and again.

Bitcoin Halving Cycles

The Bitcoin Halving cycles have been repeated again and again so far. After the halving, we saw the start of the bull market. About 1.5 years later, bitcoin and other cryptocurrencies hit an all-time high. This was the case in 2013, 2017 and now also in 2021 at the end of the year. 


What characteristics do cryptocurrencies have that you should hold in the bear market?

In order to survive the coming bear market, which can last several months or even 1-2 years, you should know which cryptocurrencies you can trust now. The following factors will help you assess which cryptocurrencies to keep. 


Market Cap : Cryptocurrencies with a large market capitalization have a higher probability that these cryptocurrencies could continue to gain investor confidence even in the bear market.

Utility : Cryptocurrencies that have a unique utility and unique selling proposition have a better chance of surviving in the market over the long term. 

Time in the Market : Cryptocurrencies that have been around for years also have a higher probability of continuing to perform well in the upcoming bear market.

Which cryptocurrencies should you hold in the bear market?

You should also hold the following cryptocurrencies in the bear market now. They are considered stable even in a bear market and should rise massively in the next bear market.


1. Bitcoin 

Bitcoin is the first and most well-known cryptocurrency. It was founded in 2009 and has gone through several cycles in recent years. Bitcoin is arguably the most solid option to hold among cryptocurrencies in the bear market. Every investor in the crypto market should hold a significant stake in bitcoins. You should definitely hold your bitcoins now in the bear market.


2. Ethereum

Ethereum has been number 2 in the crypto market for several years. The cryptocurrency has existed since 2015 and was the first blockchain to introduce smart contracts. Ethereum thus became the basis for decentralized applications. Ethereum is by far the most important blockchain for the DeFi and NFTs space . Ethereum should also remain stable in the upcoming bear market. In the long term, blockchains like Cardano or Solana could offer strong competition for Ethereum. However, Ethereum should remain at the top for the next few years.


3. XRP

XRP is the cryptocurrency of the payment network Ripple. Ripple offers its own payment network for banks based on the blockchain. In recent months, Ripple has been struggling with a legal dispute with the American Securities and Exchange Commission (SEC). As a result of this legal dispute, XRP did not rise as much as other cryptocurrencies in the bull market. In the next few months, however, an agreement is in the offing. The history of XRP is also long and the Ripple network continues to grow steadily.

4. Cardano 

Cardano is a blockchain network that combines security, decentralization, and scalability. The network is technically excellent and uses scientific methods to further develop the blockchain. In the future, Cardano could become a serious competitor for Ethereum and even replace the blockchain in the field of smart contracts. Cardano has proven itself in the last bear market and should be one of the cryptocurrencies you should definitely own.


5. Polkadots 

Polkadot is the leading multi-chain platform right now. Interoperability among different blockchains is at the heart of Polkadot. Polkadot uses so-called "parachains" that can connect different blockchains with each other. This gives Polkadot a unique selling point. Polkadot's usefulness and the prospect that Polkadot can help create an "internet of blockchains" should help the cryptocurrency in the bear market. Polkadot should also be one of the cryptocurrencies you should hold in the bear market. 

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