What I thought was a fun way to change up my morning routine soon felt like a chore itself. Wake up? Check. Go outside? Check. Touch grass? Check. I followed the steps, yet still, the market won’t budge. It’s almost like the bear market doesn’t even care that I‘m trying to better myself in the face of financial collapse!
We’re nearly a year on from my original piece, and very little has changed for the better in regards to the overall economy as well as crypto and NFT markets. Sure, we’ve seen some relief rallies and there have still been positive plays in NFTs and crypto. And don’t get me started with shitcoins. Unfortunately, the fact of the matter is we are still in the throes of a bear market and everything that brings with it.
However, if we’re still in a bear, then that means the advice should still prove useful….right?
Well, lucky for you it does! Thankfully, there is no bad time to begin the journey of self-help or bettering one’s mental and physical health. So just in case anyone treated their “Bear Market Lifestyle” like they would a New Year’s resolution, looking at you Leonard, I’m here to remind you of a few ways you can use the downtime in a down market to your advantage.
Without further ado, let’s dive in!
Slow periods in the market are perfect for getting outside, stretching your legs, and yes, even “touching grass” as the degens might say. Use this time to prioritize yourself and your mental and physical health.
Take a walk. Go for a swim. Meet some friends for a game of soccer in the park.
If exercising isn’t exactly the ideal activity for you, then take a book to a nice outdoor area and enjoy the sunshine without all the hassle of getting sweaty!
If you feel comfortable primarily in NFT trading, some of the top projects have found established price ranges that they bounce within regularly.
Looking at the strongest projects would involve BAYC/ MAYC, Otherdeeds and Memeland currently. For instance, MAYC routinely bottoms around 10-10.5ETH and then bounces up to 12-12.5ETH and repeats the cycle several times. Anyone experienced with these collections can make quite a tidy profit over a couple of days or even hours, sometimes playing these cycles that continue to bear out.
Again, not only have these projects seen sustained volume in this bear market, but in theory, they would be the first to reap the benefits of an ensuing bull market as profits generally rotate into the blue chips before circulating to smaller cap projects.
If established projects and locking up loads of liquidity aren’t quite your kind of play, researching NFTs on other popular Layer 1’s or Layer 2’s could prove a useful endeavor. We have recently seen the advent of airdrop farming on alternative chains such as Sui and zkSync and with the popularity and awareness of other chains increasing, it presents an interesting opportunity to get in on the ground floor of exciting and innovative new projects.
If NFTs are not your flavor of the month, there is always the coin trading and liquidity pool aspects that can be farmed for decent returns, but that requires a somewhat different understanding and set of skills than NFT trading - and what a great time to learn those new skills!
Finally, and what has been the talk of the town lately, would be the aforementioned Airdrop Farming. Recently, we have seen traders reap huge rewards from early action on other blockchains and Layer 2 solutions. Notably, $ARB and $OP token launches injected a nice shot in the arm of liquidity to those early users.
Now more than ever, there seems to be an abundance of alternative chains to farm for incentives such as Starknet, Layer Zero, and zkSync who have all managed to fundraise large amounts to support their chain and users.
So, what now? Are we done? Do we accept our new bear overlords until the inevitable heat-death of the universe?
Of course not. I, however, cannot answer this because if I could, I’d be predicting crimes in the year 2054 with Tom Cruise. Instead, I will leave you with a horribly butchered quote with no source. “You have to get comfortable being uncomfortable.”
I don’t have all the answers. I will experience new situations and not have all the information to handle them effectively. And that too is okay. I’ve continued working on and improving myself while finding new ways to manage my liquidity for the bull market of tomorrow. Most importantly, I’ve gotten extremely comfortable with this strange new world. So, all that being said, have you learned how to be uncomfortable yet, anon?