Bear hugs for all 

Bear markets suck, right? Sure they do. Many of us are down significantly on our investments and are sick of waking up every morning to stagnant prices. Even though this part of a bear market really really does suck, this is the only downside of it. There are many more upsides to a bear market if you look in the right places.

Bear markets act as a filter

Those who are still in the cryptocurrency market even after posting significant losses, I applaud you. You are a true believer. Where did the other $600 billion go? With those who were not educated on the true potential of cryptocurrencies and the technology behind them. With those who were not believers in that cryptocurrency was more than just making a quick buck. They saw bitcoin on CNBC and wanted to ride the wave. They sold off with a loss and spread negative sentiment about cryptocurrencies because they couldn't hold on when they didn't get a return on their investment after 2 months. Hey, I appreciate the exposure you brought, but if you're just in it for a quick buck, then I could give a shit about the exposure. 

True believers are what is really going to bring cryptocurrency to the awareness of those who actually need it. The billions of unbanked, the mounting economically deprived nations, the societal rejects.  Bear markets filter the uneducated, non-believers out and establish a base of bear market-hardened individuals who truly want to see cryptocurrency's unbounded potential expressed. Each bear market brings with it a new set of true believers and for this, I give you a bear hug. You know who you are. 

Fraudulent projects run away

2017 saw unprecedented growth in blockchain projects, better known as ICO's. With it, came an unprecedented amount of fraud. Put up a website, a nice logo, a white paper, and a bitcoin or ethereum address and the money rolled in. Anything with the word blockchain attached to it made money, lots of money....without the need for a working product. But then along came the big bad bear. Gone were the days of waking up to 80% gains from cheating investors out of their money. Massive losses were incurred in short periods of time and these shell companies didn't have shit to show for it. With no more money to be stolen, they left the space, maybe with some profits, but nonetheless, left. Those real projects with real teams of developers and real goals, stuck around. They are also true believers just like you and I and contribute to the spread of the many liberties cryptocurrency and blockchain technology can bring to the world and for this, I give you a bear hug. 

Lessons learned 

Maybe you're just someone who invested, took a loss, but still needed some of the money you invested and so pulled it out. Maybe you got robbed by a fraudulent ICO. Maybe you lost your private key. Maybe the exchange you use got hacked. I hear ya. But did you learn something? That buying into the hype and making quick, uninformed decisions with lots of your hard earned money was not a good idea? Don't you wish you learned more first and waited? Research and patience is extremely important in cryptocurrency. Putting in your due diligence and learning the ins and outs of what you are investing in and waiting for the right time to invest is imperative. Impulsively buying some coin a youtuber said was going to moon is not the best decision. Do intense research, be patient and utilize bear markets to your advantage. Now is a great time to take your time, do research and buy. The bear is wise, the bull is not. Learn from him. 

Fundamentals

In a prolonged bear market, people begin to again question the fundamentals surrounding a project. Is it legitamate? Does it have value? Why would anyone use this? These questions tend to be ignored to a greater degree when prices are going through the roof. Fundamentals are thrown out the window and the question of "when I am going to get an ROI?" is the main concern. Bear markets enable fundamentals to resurface and projects with solid fundamentals and true believers in these fundamentals will stick around. This is an extremely important lesson the bear teaches us. The bull will distort your ability to perceive these fundamentals. Be aware (or abear) and always go back to the roots of what makes a project valuable to you. 

Thank you, Bear

Losing money does suck. Really suck. But is really the only bad thing about a bear market. In a bear market, lessons are learned, fraud is chased away, non-believers are filtered out, fundamentals are revived, truth is revealed. The bear is wise and teaches us that patience and due diligence is of the utmost importance when navigating this treacherous terrain. Learn from him and you shall prosper.