Right now, we are in the middle of the bear market and this shit sucks. A lot of people have lost a lot of money by not understanding the basics of investing and getting too greedy at the beginning of 2019. But while there is a lot of doom and gloom around cryptocurrency in the bear market, there is also a long of opportunity. Opportunity can only be truly realized when we take a broader look at the blockchain and cryptocurrency industry.
We are a little over 10 years into this industry after the founding of Bitcoin and the majority of side developments have occurred over the last 3-5 years. When I see this, I see one thing: opportunity. And while there is opportunity still in investing (in my opinion), I also believe that this opportunity expands far beyond that.
I believe that the most valuable thing that you can do right now is positioning yourself in this industry in a good position, whether that means creating content or starting a business. The space is still lacking in many different factors and YOU can be adding value to it.
Why does this matter and how is it relevant towards your future investment in the blockchain world? Well, the more value you add, the better position you will be in for several reasons:
Build a Brand, Business, or Both.
Adding value helps the people around you. The more you help the people around you, the more you are contributing to the ecosystem that is cryptocurrency. A lot of people hate on the idea of building a “brand,” but the fact is – brand building is simply adding your thoughts, opinions, experiences and ideas into an ecosystem with the attempt to create a meaningful conversation that will enrich someone else’s life. You may not even call it brand building in the beginning. I didn’t. But the more people that start to follow you, interact with you, and appreciate you for what you add to the space, the more people will look at you as a brand. And it isn’t a bad thing!
I will write a full blog post about this into the future.
You get to learn more.
Adding value in an industry that is still evolving allows you to not only share stuff with others, but you also get to learn more yourself. THIS is the real gem of sharing content and opinions with people. You get to see the areas you might have missed and where you might be wrong. In return, you get to have (hopefully educated) conversations with people that can help expand your awareness about topics you are interested in. The more you learn, the better!
So, what can you be doing during this bear market to improve on these things?
Build a Brand or a Business
Share your expertise with people, even if it isn’t directly related to cryptocurrency or Bitcoin. This doesn’t mean that it can’t also add value to people’s lives in the space! I have see personal trainers on Crypto Twitter sharing their experiences with getting healthy and I’ve seen traders/investors respond well to it! Don’t put yourself in a box of just doing TA/trading. Be a fuckin’ human!
Investing financially can be a choice you can make as well! Here are some tips:
- Sell Extra Shit
- Get rid of the shit you don’t need! I bet there is a ton of stuff laying around the house that you don’t want and you don’t need anymore. Open an eBay account. Get on craigslist. Sell it!
- Get a Part Time Job or a Side Hustle
- Love cryptocurrency but you aren’t making enough for it to be full time? Or you just want to buy more? Get a part time job. Find a side. If you have spare time, don’t waste it.
- Cut Expenses and Bad Habits
- A lot of people spend a lot of money on dumb shit. This can change and it can allow you to free up more capital for the investments you are serious about!
- If you have the startup capital to pay for mining rigs, gpus, and electricity, then this is definitely a good option for you. There is definitely a learning curve with mining (I know very little about it to be honest), but that is what this is all about – Learning!!
Finally, the thing that I am getting at is that I REALLY believe that blockchain, cryptocurrency, and Bitcoin is a huge opportunity for legacy and wealth generation. I believe that, while we have seen major price declines over the last year, the next 5-10 years holds massive potential. Of course, there is always a chance that I am wrong, but I am willing to take that risk. If you are as well, it is important to find what you value you can add to the ecosystem and do it as much as possible. You will be doing a good service to the people around you.
Whatsup everybody, I’m Nye and I create content around bitcoin, cryptocurrency, investing in your future, and much more. I run a marketing company, Elevated District, that helps blockchain startups and companies build a brand and create a digital footprint. I also host a podcast, Evolvement, that focuses on speaking with economic leaders about Bitcoin, cryptocurrency, and the future of our financial world. You can learn more about me at the sites below!
I do not give financial advice. I am not a financial advisor. If you are looking for financial advice, then you should go to google and look for a financial advisor in your area. What I write is simply for entertainment purposes. You should never blindly trust anyone on the internet who tells you where or how to invest your money.