Bear Market Apocalypse: 22-Year-Old Nigerian Crypto Trader Shares His Experience With CoinW Exchange and The Bear Market.

Hanjeeh, a 22 years old, from Nigeria, and loyal user of CoinW, entered the crypto space since 2020 and is currently working full-time in the cryptocurrency and NFT trading space.

In November 2021, BTC rose to a maximum of 69,000 US dollars, and the total market value of the crypto market reached an astonishing 3 trillion US dollars. However, the bulls turned bears were caught off guard! In less than a year, the total crypto market has lost two-thirds of its value.

During the bull-to-bear period, Hanji browsed the tweets of kols in the crypto space on Twitter, and they made different analyses of the reasons for the bear market. Some believe that the crash is due to the fact that 2021 was coming to an end and crypto asset holders were selling-off their assets to prepare for the holiday, they believe the bull market will continue at the beginning of the new year; others believe that the bear market is just beginning, as the bellwether of the cryptocurrency market BTC, still slopes on the further downside and the next bull market isn’t predicted to arrive until 2024.

Hanji also wants the bull market to come faster. However, this backfired, and the market decline intensified, with the total market capitalization of the crypto market halving from a peak of $3 trillion to a rollercoaster of $989 billion. More than $2 trillion in crypto assets were liquidated during the bear market crash.

When the drop started, most of Hanji’s holdings were down because they weren’t sold in time. The $5,000 crypto asset gradually fell to $20. In addition, during the fall, Hanji continued to buy falling crypto assets, resulting in heavy losses.

Although Hanji suffered heavy losses on the spot, he survived this brutal bear market. The reason is that while the big crypto market continued to decline, the NFT market was very hot in January this year. By mounting NFTs for free, Hanji is in this Bear markets making as much money as he did with cryptocurrencies during bull markets.

The important lesson that Hanji has learned from the bear market is to avoid blind excitement when the bull market comes, settle profits in time, keep profits forever, and stop losses in time, to reduce losses in a bear market.

A bear market does not mean that there is no possibility, just like nature will have spring, summer, autumn and winter. The crypto market will also have a bull-bear transition, and a bear market will clear out speculators in the market, allowing real builders and valuable assets to float out of the water. As an exchange brand founded in 2017, CoinW has experienced many rounds of bull and bear cycles. Currently, it provides spot, contracts, OTC, ETF, CoinW Earn, FansUp to more than 8 million users in 120 countries around the world. A world-class crypto asset service organization with comprehensive services.

Regardless of market bulls and bears, CoinW will always adhere to its original intention, continuously improving its products and services, strengthening security guarantees, and providing safe, reliable and one-stop intimate services, for more global crypto asset users like Hanji.