Bear Market or a Bargain Hunter's Paradise?

Everybody has one of those regret moments. These regrets would usually be accompanied by a deep sigh and the customary phrase: “I should have....”. Some time ago, I was a beta tester for a play-to-earn game. I received several NFT items for free as payment. The game was built on the Ethereum (ETH) network. ETH was trading at $150 back then. Having no plans of upgrading my playable NFT characters, I went the Scrooge McDuck way. I did not buy any ETH. It was one of the biggest mistakes of my life. As we all know, ETH went to an all-time high of $4,800! Even if I sell them at the current value of $2,000. I would have still made a 12X return on investment.

Right now, many are saying that we are in a bear market. Some are saying this is just a correction phase. I don’t know which to believe, but my crypto portfolio is down by 40%. If you look around, the traditional market is not doing well either. In fact, the only sure thing that will increase is the number on my bathroom scale.

But there is a silver lining to this. Unless the crypto space goes full nuclear meltdown, these low prices gave us another chance to accumulate before it goes parabolic. If you are willing to buy a designer shoe or bag at full price, then why not buy a heavily discounted asset which could probably double your investment?

I am not saying that crypto is the silver bullet to financial freedom. You still have to do your own research. Invest money you can afford to lose. Nobody can predict if the market will go up or down, but I don’t want to make the same mistake of being too afraid or too cheap to invest. But I am not selling the farm either. I am on it for the long haul. Then maybe... Just maybe I’ll be as rich as Uncle Scrooge after a few years.

*I am not a financial advisor and none of these are financial advice. Do your own research.