Today, I will share tips on preparing yourself for bull run 2024.

Since 2022, we have been experiencing a bear market.

Now, we’re looking forward to the next bull run in 2024.

Let’s dive into tips on positioning yourself for the bull run.

What is a Bull Run? – Crypto Seasons Explained

Since the launch of Bitcoin in 2009, a four-year cycle has been noticed in the crypto verse.

The other cryptos launched after Bitcoin have followed this 4-year cycle.

This cycle also correlates with Bitcoin Halving.

The two main seasons that rule the verse are the Bear and Bull seasons.

Bear season is the period in crypto where the price of coins falls.

Some factors that can cause the bear market include supply and demand, crypto narratives, government policies, and many others.

Discover ways to thrive in a bear market in this post.

Inversely, the Bull season is when the price of coins rises over a period of time.

The last bull market season started in late 2020 and ended in 2021, and we have been in the bear season since then.

The next bull run will happen in 2024 following the next bitcoin halving.

Several predictions have been made as to when it will start based on past events by some industry experts.

But the question is: “What are you doing now to prepare for the next bull run?”

In case you don’t know, some people lost money in the previous bull market because they weren’t prepared.

In the next section, I will share 5 essential tips that will get you prepared for the bull run in 2024.

Let’s get to it.

5 Expert Tips To Prepare You For Bull Run 2024

1. Educate yourself

It is said that knowledge is power and that he that has knowledge is mightier than the strong.

Lack of education is the reason why many people lose money in crypto.

They are at a loss about:

• What to buy
• When they should buy it
• Or even understand the metrics of how crypto works.

Dear reader, take your time and learn. And there is no better time than now!

Learn about:

• DeFi and tokenomics
• Read project white papers and try comparing them to other projects.
• Learn about Web3, the Metaverse, and NFTs
• Know the trending crypto narratives, etc. 

For example, we have liquid stake derivative (LSD) trending in DeFi, and now we are seeing the upcoming LSDFI.

You can learn how this will impact the crypto market as a whole and how you could benefit from it early.

Also, follow the news to keep up with how crypto trends come.

All these help you build knowledge to decide better how to approach the upcoming bull run in 2024.

2. Determine your Investment Objective and Risk Tolerance

This involves you stating the type of crypto investor/trader you want to be.

Because I believe many people make that mistake a lot in crypto.

Starting a clear goal will determine how your portfolio will look like.

• Know the type of coin you want to invest in
• How much you want to invest in it, and
• Whether you are into the coin for a long or short-term investment

Stick to that and never lose sight of that.

I have seen many people lose woefully by trying to adjust their initial investment plan.

For instance:

An investor who sets out with a short-term plan but does not achieve his aim extends to a long-term plan.

He may end up losing his whole investment.

A clear goal is very important in keeping you focused and not being deceived by the crypto market.

3. Never Invest More Than You Can Afford To Lose

This is one of the golden rules you will hear when you start your crypto journey.

But to this moment, many people still fall prey to that.

Now let me tell you this:

If the owner of a crypto project doesn’t invest more than he will lose, then ask yourself why you should.

You need to understand that crypto is a home of decentralization.

It is difficult to know who is buying or when someone is selling; all we see are numbers on the blockchain.

No matter how well you believe in a coin –

• Be it that you know the owner or
• You have read everything about the project and are convinced that the coin will always go up.

My advice for you will still remain the same:

Never invest more than you can afford to lose because this is the crypto market.

4. Always Do Your Own Research

This has made many newbies leave the crypto space after staying for some time… HOW?

Many people started their crypto journey because one influencer they met on YouTube or social media told them how he bought a 100x coin and got rich.

He will now encourage them to buy the one he posted to become rich like him.

With this, many blindly followed, not knowing anything about the project, and in the end, they were used as an exit liquidity for early investors.

You should know that most influencers are paid to promote a coin.

They don’t care about the coin or who buys it; they want to make some bucks for themselves. 

So the best thing to do is to go back, sit down, and do your own research:

• Learn about the project
• The team behind it and its investors
• What does the tokenomics look like, and how are the token unlocks going to be

You can work with the tools listed in this post to do your own research.

After your research, if the coin still meets these standards, you can go ahead and invest in it.

If it doesn’t, just move on; it is not a must to buy every coin on the market.

5. Manage Your Emotion

The truth is that we are all human, and sometimes, our emotions override our plans; this happens mostly when trading.

For example, when trading futures, you have conducted your analysis and entered a trade, but the coin keeps going wrong.

Instead of leaving, you keep adjusting the margin, hoping it will soon go as planned.

Or maybe you entered a trade, and even before the stop loss, you start fearing that the trade won’t go well and might decide to leave early.

After you leave, the same trade goes as planned, but this time has passed your entry, and yet, you overlook and enter the trade only to lose.

Learn to discipline yourself; it will help you manage your emotions to avoid making irrational decisions.

I have seen many lose their money because of FOMO (fear of missing out).

Don’t buy because your neighbor bought; don’t buy because you see that a coin has done 80%, and people say it will be 100% in 3 hours.

Don’t expect too much when investing in crypto; stick to your investment plan.

Conclusion

Here is where we wrap it up for today. I hope it was a worthy read.

The crypto market is very volatile, and we should learn to understand and expect that.

It is very important to stay light-headed and avoid impulsive decisions based on emotion,

By following the tips I gave you here, I can assure you that you will make the best out of the bull market when it comes.

Stay informed and curious; the bull market may be closer than expected.

Meanwhile, join Afibie, the ultimate crypto-learning platform, to learn how to trade profitably.

You can sign up here and join our Telegram group, where we hold live sessions and share trade signals.

Till my next post, HODL on.