Bear markets can be tough on the mind (and your portfolio) so here are 7 tips to keep your head clearer during a downturn. đź’ś
In summary
- Turn off notifications
- Breathe
- Touch grass
- Have a chat
- Eat something nice
- Level-up your research
- Set up a recurring buy
Don’t let your mind dip
Crypto and most assets are officially in a bear market – for now. We’ve discussed some simple trading strategies that traders may like to use in times of downturn. But let’s face it, price dips can be stressful and it can be hard to keep the end goal in mind when emotions are high.
Crypto has seen a few bear markets already and our team has gathered some nuggets of wisdom from these past experiences. Here are seven simple things you can do to help boost your mental health in times of market stress. 👇
1. Turn off notifications
This might seem surprising coming from us but, seriously: Turn off your notifications – whether they’re from your price app or your social media. And, yes, also stop checking crypto prices every few hours. Investing is a long-term game. You’ve heard the saying “Bull markets make you money, bear markets make you rich”? Let us add that only patience can take you there. And, don’t worry – when you’re ready, you can turn those notifications back on. We’ll be right here.Â
2. Breathe
Anxiety can build up when portfolios are down. One trick that’s so simple we forget about it is to take the time to breath properly:
- Close your eyes
- Take 10 long breaths
- Repeat for at least 5 minutes.
We’ve also found that using apps like Headspace or Calm can be super helpful to make meditation or a breathing practice a daily habit.
3. Touch grass
Yes. Touch some literal grass. Just go outside – take a stroll in the park, go swimming in the ocean, hike a mountain, lay on your sunny lawn, workout in the gym, you name it. Interacting with nature instead of screens will boost that sweet serotonin. 🍀
4. Have a chat
Having conversations with your community or crypto friends is important because, well, we’re all in the same boat. You can comfort each other or even have a loud scream together, whatever you need. It’s also key to be open and share your ups and downs with your loved ones. And if you’d like to chat with someone else, reach out to a professional – remember, it’s ok to not be ok.
5. Eat something nice
Good food can help with good mood – it’s called comfort food for a reason! Aim for a balanced diet, full of nutrients. Portfolio in the red? Load up on the greens or more red meat if that’s more your thing!
6. Level-up your research
Bull markets tend to be full of hype, FOMO, and all sorts of pumps. Make this bear market a time for sharpening your research skills. Read whitepapers. Subscribe to newsletters. Listen to podcasts. Experience afresh the joy of crypto discovery. đź’ˇ
7. Set up a recurring buy
Recurring buys are a way to put your portfolio on autopilot – and can take away the stress of trying to time the market. Simply set up how often and how much you want to buy and we can do it for you for zero fees after set-up. Our skip feature also allows you to set a price above which you don’t want to buy. Buying automatically on the cheap – what else could be more calming?
