The bear cycle is the time when, up until a year ago, you thought you were the world’s brightest and most foresighted person. However, it broke you, destroyed your mind, and resulted in the loss of all of your money. In a bull market, people who learn that you are working on a web3 project contact you and regard you as the most visionary person alive; but, in a bear market, this becomes fraud.
Let us now discuss the factors that make a bear market the ideal time for product development.
SCAMMERS GO OUT
Bull markets are when everyone is talking about cryptocurrencies, everyone is an expert in them, and everyone is generating millions of dollars. However, this is also when fraud happens. The best thing about bear markets is that they initially cause the industry to be cleaned up and the scammers to be eliminated.
CREATES SPACES FOR NEW IDEAS AND PRODUCTS
In a bull market, nothing needs to be produced or problems to be solved for coins to rise. All of these inflated balloons deflate when the bear market arrives, exposing the industry’s issues and what it requires. The stars of the upcoming bull period are already in the process of producing their products, just as it is not a coincidence that they debuted in the bear cycle from 2018 to 2020 when the stars of the 2021 bull did.
EASY TO ACCESS THE RIGHT PEOPLE
Reaching actual developers, marketing companies, and business owners are incredibly challenging during a bull market because everyone is working on web 3 projects and talking about cryptocurrencies. However, it is far simpler to contact them during a bear market since genuine people are, in a sense, left alone. Therefore, networking is a tremendous opportunity during a bear market.
EVERYTHING IS CHEAPER
Everyone wishes they could purchase Bitcoin if it were 30.000 USD when it was 69.000 USD; now they can do so for 20.000 USD! Do you need a top-notch crew for a project? While you should spend 100,000 USD to promote your product in the bull market, you can now accomplish this with 20,000 USD. The software engineer, who demanded a salary of 10,000 USD per month in the bull market, now demands 3,000 USD. The best time to assemble the ideal team and make investments is during a bad market. Money is made in bull markets, while wealth is made in bear markets. Remember that!
TIMES LIKE THIS REVEAL THE RIGHT TEAMMATES
Everyone is content and cordial when things are going well and money is coming in. However, when things don’t go well, people who don’t have faith in the team, the product, or you give up. The best chance to see a true buddy or teammate is during the bear cycle.
YOU HAVE TO GO ALL IN!
A person discovers his actual power and capacity when he has nothing left to lose or is about to lose everything. In a bear market, interest in cryptocurrencies wanes, and volumes are nearly nonexistent. Since you can’t get millions of dollars with just one tweet, you need to put your all into solving problems in the actual world if you want your project to be considered intriguing. Because of this, business owners push themselves to the maximum and grow holistically during a bear market.
Follow us on social media 👇🏻
Twitter: https://twitter.com/edumeduio
Announcement: https://t.me/edumeduio
Community: https://t.me/edumeducommunity
Instagram: https://www.instagram.com/edumeduio/
