Are you new to cryptocurrency winter?

Crypto winter has covered 2022 in a thick layer of snow, leaving investors freezing in the cold and impatiently looking forward to the summer sun of the forthcoming bull run.

Both Bitcoin and Ethereum have fallen significantly from their highs. In addition, Q2 saw Ethereum experience its worst quarter ever and Bitcoin see perhaps the worst quarterly trend in more than a decade.

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Layoffs and hiring freezes have been reported by numerous crypto exchanges. The price of Coinbase's shares has dropped 86% from its 52-week high.

The bullish boys of 2021 have stopped talking, and many now claim that Bitcoin is once more silent. Instead, Celsius, 3AC, LUNA, and Voyager collapse are being discussed.

Given that all investors who bought Bitcoin in the previous year are in the red, it's simple to understand how many people joining the cryptocurrency industry in late 2021 have given up and become disillusioned.

Is all hope lost? Not for the devoted!

Can spring be close if winter is already here? Considering that this winter may endure for another year or longer, it may be premature to consider spring, but now is the time to be ready for the forthcoming bull run.

As you wait for the net bull run, take into account the following recommendations:

• Read cryptocurrency news, but avoid being too chart-obsessed. Constantly looking at charts won't make our paper losses disappear, but it can cause us to make emotional choices that we'll later regret when the market starts to turn.
• Hold onto your cryptographic keys in a cold wallet. It is imperative to take preventative measures to safeguard your money by employing a hardware wallet in light of the current bankruptcy issues affecting the cryptocurrency sector. Are you prepared to take a chance and hope that an exchange would keep your cryptocurrency safe?
• The dollar cost average is a tried and proven strategy. Making frequent, scheduled smaller-incremental capital spending on a schedule reduces your risk exposure and also lessens chart-watching and emotional decision-making. On some exchanges, dollar cost averaging is automated.
• Practice patience. Even the most ardent believers may experience mental challenges if crypto winter lasts longer than anticipated. Recognize that the market may continue to decline or fluctuate for the next two years or longer.
• Consider your options and make a plan for the upcoming bull run. With sell limit orders, are you planning to profit frequently? Do you plan to HODL? Will you diversify your investment holdings? What effects does a cryptocurrency strategy have on taxes? Before the next bull run, you should factor all of these considerations into your decision-making process.
• Ensure your own wellbeing. Crypto winter is the ideal time to take a break, pick up a new hobby, go on a road trip, or hang out with friends. Let's face it, the 24/7/365 nature of cryptocurrency trading may occasionally be mentally taxing, so you need to get yourself a vacation.

Can spring be close if winter is already here?