5 Crypto Coins to Watch Closely During the Bear Season

Bear Season

5 Crypto Coins to Watch Closely During the Bear Season

Did you know that there are over 16,600 cryptocurrencies in the market today? With this number growing non-stop, it’s no surprise why digital coins are rising in adoption in different corners of the world. This means thousands of options to try for many folks in and out of the crypto space. While these digital coins might be similar in form and use, not all can withstand the dramatic effects of the bear market.

What is a bear market and how does it affect the crypto prices? Most importantly, which coins are likely to survive the bearish season? Let’s figure it out.

In this article We explore Bitcoin SV technical details and its role in fulfilling Satoshi’s vision for Bitcoin.

The bear season in a nutshell

The bear season in the crypto world doesn’t involve hunting furry four-legged animals. Instead, it’s the term used when the crypto market is experiencing a continuous or massive decline. The bear market is also present in other assets such as stocks, real estate, and more.

Bear season happens because the crypto market encounters day-to-day fluctuations or volatility. During this time, the supply of a coin is far greater than the demand, which then causes its price to fall.

This event can be challenging for many traders, especially those who are still starting or inexperienced. Investors who lose confidence in the coin and believe that its price will continue to drop are referred to as bears, hence the bear market. When the bear season begins, no one can surely tell when it will end, making it even tougher to trade.

Cryptos to keep an eye on in a bear market

A bear market might be all about price declines, but that doesn’t mean it can’t bring out financial opportunities—especially when you’re holding coins that can withstand the wave of diminishing prices. To help you better plan out your crypto journey this year, we made a list of five cryptocurrencies you should keep tabs on.

Bitcoin (BTC)

Bitcoin is by far the most well-known cryptocurrency worldwide since 2009. Currently, it sits at the top of over 16,600 digital coins, with a market capitalization of 796.13 billion USD. At the time of writing (January 11, 2022), BTC is selling at over 42,200 USD per coin—a price that’s way higher than when it first started.

BTC’s growing popularity and adoption are among the many reasons why investors and traders across the globe are still buying and selling it despite the bear market. During this time, many crypto enthusiasts look for marketplaces where they can buy Bitcoin with zero fees, so they can get higher fractions of BTC to hold when the bull market arrives.

This coin has also faced a lot of ups and downs, making it a truly tried and tested asset for bear season.

Ethereum (ETH)

If BTC is always the market’s number one, Ethereum’s place is always number two. ETH is also a widely-known coin not only for trading, investing, and other financial transactions, but also for its capacity to house thousands of decentralized applications (dApps).

This unique feature is among the many reasons why it can be considered an excellent asset that can get over the effects of bear markets. Currently, its market capitalization is at 369.85 billion USD, with a selling price of over 3,100 USD per coin.

Dogecoin (DOGE)

We’re pretty sure that you know Dogecoin—the crypto market’s first and most popular meme coin and dog coin. DOGE is now sitting at the 12th spot in the crypto market in terms of market capitalization.

It was really started as a joke, but Dogecoin suddenly blew up in the second quarter of 2021 when it gained the support of investors and high-profile individuals, like Tesla’s Elon Musk and Dallas Mavericks’ Mark Cuban.

Like Bitcoin, this coin has also faced a rollercoaster of price changes in the past years. But as long as its supporters exist, Dogecoin can probably soar even higher than its current price of 0.1443 USD.

Solana (SOL)

Solana is a decentralized blockchain designed to enable scalable applications. It’s one of the fastest-growing blockchains today and has its own coin that ranks 6th in the market in terms of market capitalization. Today, Solana’s market capitalization is 42.47 billion USD and is selling at over 137 USD per coin.

Its blockchain technology houses many different non-fungible token (NFT) and decentralized finance (DeFi) projects. In the last quarter of 2021, Solana skyrocketed to over 250 USD per coin. This growth proves that Solana’s features and capabilities indeed spark the interest of many investors and traders alike.

Cardano (ADA)

Cardano is a public blockchain founded in 2015 by Ethereum co-founder Charles Hoskinson and was launched in 2017. It was named after Italian polymath Gerolamo Cardano and has a native coin called ADA, named after Ada Lovelace—an English mathematician known for the Analytical Engine.

Cardano is among the continuous-growing cryptos in the market today and still sits at the market’s top 10. Currently, ADA is in 7th place in terms of market capitalization, following Solana. Its market capitalization is 38.58 billion USD and sells at 1.15 USD per coin. Its price might not be as high as the other coins in this list, but Cardano’s growing trade volume is something to keep an eye on if you’re looking for an asset to buy and sell.

Prepare before the bear season arrives

As we’ve mentioned earlier, no one can tell when the bear season will come and end. However, you can always gear up before this time comes. Check out the coins in the list above and see if they match your trading needs.

In case you haven’t started your crypto journey yet, make sure you create an account on a platform that’s reliable and secure. Some peer-to-peer marketplaces like Paxful even allow you to get a free crypto wallet upon signing up, so you can get started right away. If you find yourself in a bear market, make the most out of it by exploring different trading strategies as you go along. Good luck!

*The content of this article is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.