Keep a Cool Head: Experts Tell You What To Do When Bitcoin Dips Below $20,000

It’s been a brutal summer for crypto markets, with BTC hovering around its 2017 high.On June 30, Bitcoin (BTC) fell 5% in two hours and Ether (ETH) fell to near $1,000 as pessimism gained a grip on crypto markets. Although the price has rebounded that night, it has been in sharp fluctuations.

A Bear Market of ‘Historic Proportions’

Glassnode analysts have been thoroughly analyzing the current bear market and evaluated it in a video uploaded earlier this month, as originally reported by Bitcoin.com, in which they noticed that historically, BTC’s price decreased by more than 80% during bear markets before reaching a bottom. A drop of 80% from the cryptocurrency’s all-time high of $69,000 would be roughly $13,800.

According to the firm’s researchers, as the Bitcoin market matures and grows, the “magnitude of possible USD denominated losses (or gains) will naturally scale alongside network expansion.”

The Way to Survive Crypto Winter, Advised by Experts

According to analysts, Bitcoin ($BTC) and other cryptocurrencies are currently in a “historic” bear market, with the digital asset space experiencing “the largest capital outflow event in history.” 

However, crypto traders have already heard enough such bad news. More than future trends, now they are concerned about what strategies they should employ to survive such a harsh winter, avoiding the fate of becoming victims of the giant bear.

Based on historical experience, experts advise traders on the following:

First, keep a cool head.

The fear caused by the market’s crash is inevitable, but if traders quit the market now, they will not be able to recover the losses that fall into the food of the bear. It is critical to understand that the price cannot drop to zero, and there is always a chance of rebound. As long as traders think calmly, listen to experts, and allocate their assets rationally, they will have a chance to be the winner of the cryptocurrency carnage when the dawn arrives.

Then, experts advise investors to prepare in two ways:

1. Put money in a wallet and enjoy the passive income.

Just like in the bitter cold winter, hunters need a warm cabin to rest before venturing into the dark forest to hunt the giant bears. In the face of volatile market fluctuations, investors can reduce the risk by depositing funds in a wallet with high APRs. The BTC stored in the wallet will be highly secured and free from the risk, allowing investors to earn a high passive income.

2. Use some of the money to profit from shorting.

Then, on top of that, traders can use the right tools to short the market, profit from the visible downtrend, and tame the fierce bear with their courage and wisdom.

Instead of waiting and losing money in the crypto crash, futures trading with leverage is the best option for traders to hedge loss and make great profits. It enables traders to go short or go long which means both price rising and falling are profitable. With the leverage feature, they can also enlarge their potential profits with a small capital investment.

Of course, it’s better to choose a reputable exchange with both features: a wallet with high interest rate and a leverage tool, like Bexplus. Traders can enjoy an annual interest rate up to 21% with the BTC wallet and earn profit by shorting the market at the same time.

Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on various trading pairs: BTC, ETH, ADA, DOGE, XRP, etc. Bexplus is popular among over two million traders from over 200 countries/regions. In addition, it is safe for being accredited by U.S. FinCEN MSB (Money Services Business). Furthermore, It also boasts of the following features:

Bexplus has also launched the Copy Trade function. Copy-trading allows you to copy the positions opened up by other top traders automatically. You can make money together with excellent traders with high win rates as well as profitability. If the profits reach your target, you can also close the position at any time. 

Bexplus is a good trading platform for both novices and veterans. Click Here to Register an account in Bexplus now, claim up to 10 Free BTC Giveaways and share the $5000 Reward!

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.