The crypto winter was very chilly this time around. Bitcoin fell to $17,744 on June 19, 2022; that is 70 percent lower than its November 2021 all-time high. The domino effect in the crypto industry only exacerbated this fall, with Terra crashing to zero, Celsius filing for bankruptcy, and Three Arrows Capital falling apart.

While it is difficult to say if the crypto winter is coming to an end, we can see some green shoots. ETH saw three straight weeks of inflows after 11 consecutive weeks of sell-off, as per a report by CoinShares. The report also said that bitcoin short positions are beginning to cool off.

So, if it is indeed the end of winter, how do you prepare for summer? Here are some tips to help prepare you for the next bull run.

Do your research

It’s best to buy tokens when prices are low. You can make massive profits once the bulls come charging in. However, if you are planning on buying the dip, make sure you do your research before putting your money on a particular token. Understand the fundamentals and study the technicals of the project. Also, look at its use cases and the history of its founders. Only invest in tokens with a solid foundation and a good scope for growth. This way, when the winter does end, and prices begin to rebound, you have better chances of making bank.

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Keep your funds offline

Keeping your funds in an online custodial wallet can be risky, especially during a bear market. The recent bankruptcy and liquidation woes in the crypto industry are testament to this fact. Therefore, storing your holdings in a hardware wallet is always better. It ensures your stockpile is safe until the bull run kicks in. You can also start cold staking to earn a passive income during this time.

Make use of dollar cost averaging (DCA)

The crypto winter is also an excellent time to stock up on your existing holdings. Buying coins when the prices are down helps lower your average investment cost. This ensures that you will enjoy better realized gains when the market sentiment shifts and prices rise.

Stay on top of the news but not glued to the charts.

In a market such as crypto, it’s essential to stay updated. However, following the markets too closely can harm one’s mental health. We need to accept that the crypto winter is bound to cause paper losses, and constantly monitoring charts will not change that. Instead, it can lead to emotional decisions you will most likely regret when the markets begin to reverse. So, step away from the screen and wait until the bull run arrives. If historical data means anything, market depressions are always followed by upswings.

Don’t talk about your holdings or trades on social media

In one of the previous bull markets, many crypto traders became victims of wrenching attacks such as home invasions, kidnapping or robberies. Why? Because they were bragging on social media. It is far easier for people with malicious intents to find information on you with the limited details on Twitter or Instagram. Recently in Sweden, an unidentified couple was tied up, beaten, and forced to transfer their cryptocurrency to their attackers.

HODL all the way

This tip holds true, no matter what the market sentiment is. While the chips may be down, staying invested for the long run is always a good idea. This ensures that you’ll be in the green once again when fear turns to greed.

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