Everyone wants to make money—me, you, and yes, the market itself. But here’s the truth: the market takes money from the majority of people most of the time.
After going through two bull markets and two bear markets, I’ve learned some painful lessons. I’m sharing them here so you don’t have to repeat my mistakes.
1. Recognize When You’re in a Bear Market
This sounds obvious, but at the top, it’s incredibly hard to accept that it’s over. Emotions trick us. Euphoria makes us believe the market will rise forever—but it never does.
Lesson: Follow the trend. If it’s bullish, be bullish. If it’s bearish, be bearish. When in doubt, zoom out. No, this time is not different.
👉 Watch Heidi from Crypto Tips explain it well here.
2. Keep your Stable Income
Without steady income, you risk selling coins at the worst possible time—near the bottom—just to cover expenses. I had to sell long-term assets once to pay bills while ill. It was painful and costly.
Lesson: Always keep 1–2 years of living expenses in fiat. And never forget: health comes first.
3. Don’t Hold Dead Weight
After the blow-off top, I held onto too many Altcoins, hoping they’d recover. They didn’t. Most alts drop 90–99% after the peak.
Lesson: Don’t let your portfolio bleed. Either cash out or rotate into Bitcoin if your goal is to stack BTC.
4. If You Buy, Buy Bitcoin
The crypto market cycles have been pretty predictable so far. Bitcoin recovers first. I made the mistake of buying altcoins way too early, thinking I was smart. I would’ve earned far more sticking with Bitcoin.
Lesson: During bear markets, focus on Bitcoin. Save altcoin plays for when alt season actually begins.
5. Yes, It Can Happen to You
I lost Bitcoin once by storing them in a wallet linked to a mixing service. The U.S. government shut it down, and my coins were gone—even though I thought they were in self-custody.
Lesson:
- Anything can happen: hacks, mistakes, lost keys. Keep that in mind even if you think you did everything right.
- Don’t trust mixer services. If you use them, move coins immediately into what? Your cold wallet!
- Remember: crypto is very high risk. Always be prepared to lose everything you invest. It can happen to you too.
6. Use the Bear Market Wisely
Bear markets aren’t just about surviving—they’re about building. This is the time to:
- Learn more about investing and crypto.
- Save from your job to stack more Bitcoin.
- Improve your reputation, business, and skills.
- Work on your mission – whatever that might be.
I started investing with just €100, and I still remember panicking when Bitcoin dropped from €2,898 to €2,655. Newbie mistake—but every mistake is a teacher.
👉 Grab my book on Amazon. In my book, I show you how I started investing with just €100 and built the confidence to grow from there. If you want to begin your crypto journey safely, without repeating the mistakes I made, this book is for you.
👉 And don’t miss Part 2: Lessons from a Bull Market.