There is no doubting it now…the crypto winter is here.
Bitcoin is falling to lows even I thought weren’t possible until down the road, major
projects are going under & peak fear is in everyone’s eyes.
So how do you survive a crypto winter & bear market.
Well find out in just over 10 minutes, because it’s time for Chico Crypto!!
Yup, Bitcoin has gone full on bearish….pulling out the chart since 2017, we officially fell
all the way to the old all time high of 20k set in December of 2017.
And all of 2021’s gains have been completely wiped out…
What’s interesting about this….is miner capitulation hasn’t even occurred yet.
Looking back to the 2018 bear market, the miner capitulation aka steep drop in hashrate
as miners dropped out, didn’t come until november of 2018 with the hashrate bottom
coming the next month.
This was a full year after the all time high of BTC in 2017…and when Bitcoin finally
dipped to 3k
As we can see from the hashrate today, it’s just been climbing and climbing even with
the falling prices, there hasn’t been a miner capitulation even for this crypto winter
and bear cycle.
Which makes me think, that we haven’t hit our bottom yet…we are in for more cold crypto
weather which equals more price pain.
So the big question is…how do you survive this and what's to come?
Well like I’ve been saying since I confirmed this was a full on bear market, these are
blessings in disguise.
They give those who stick around the opportunity to accumulate at prices people dream of in
a bull market.
So my number one advice in these markets?
You gotta have income, and some disposable income so you can start accumulating at the
low and bottom prices.
Now I’m sure many of you who watch my channel have jobs, so keep that going…but if that
job isn’t providing you enough freedom to invest…then quit the job and go full time
crypto!
If you couldn’t tell that was a joke, but in reality, if you need more money to invest….create
a side hustle…which can supplement your income…giving you that boost in investment.
Now, I’m not gonna tell you what to do for a side hustle, as there are many options out
there.
You could become a picker, yard saling and reselling the stuff online.
You could pick up a part time job as a bartender or waiter, you could learn affiliate marketing,
you could
But I do want to talk about the side hustle options within the crypto industry.
Now trying to find the coin that pumps 100x in a bear market, isn’t going to happen.
Although, there will be upwards and downwards movements in coins on the daily.
A bear market is the perfect time to learn day trading.
Capitalizing on the daily movements of coins or even stonks, equities, precious metals
and more.
Now everyone should know, I’m not a technical analyst…I’m a fundamental analyst.
Although, I do know and realize that there is value in TA.
It’s just not for me…but it might be for you!
So…where do you learn?
Well you do not buy one of those trading courses from youtubers who offer them…one of my
mottos is “the best information on cryptocurrency will always be free” so, look for youtubers
who offering their content for free or mostly free & have a good track record of winning
trades, doing live trading!
One I can recommend for this is Crypto face….Crypto Face is unique in that he trades with large
positions on livestreams, So he’s one of the best TA Youtubers to follow for crypto
if you want proof that someone really is a good trader and not just ‘LARPing’ by
only showing their wins – sometimes he gets stopped out & in trading, especially in the
short term.
That is going to happen.
So, once you have researched TA, you have found strategies you think could win, it’s
time to test them out with fake money, before trying it in the real world…now most large
exchanges give you the opportunity to do this.
Binance has a spot test network, BTSE has a good spot testnet, kraken has a good futures
testnet, and if you are looking to trade outside the world of crypto, pocketoption has a demo
account letting you trade currencies, a few cryptos, commodities, stocks and indices.
(Link #5 Pocket Option (click on trading pair to see trading options))
But what if the stress of trading isn’t for you…like myself?
Well there is always the option of going the humble route, and becoming your everyday farmer!
No, not farming in the literal sense like growing crops.
But yield farming as there is still yield to be earned on crypto assets, even in a bear
market.
Now, I know with Celsius going under, many people are weary of locking up their crypto
assets in platforms, and even staying in stablecoins.
Well for one, Celsius was an entirely centralized, irresponsible organization…and there are
solid stablecoins, like DAI and USDC.
And there are responsible, decentralized organizations still providing pretty decent returns on stables.
Like Centrifuge…which is providing real world assets and companies quick financing
with DAI, in return for a higher payback, which is distributed to the token holders.
As we can see the APYs over 30 days are pretty dang high, up to 10.77 percent for the Senior
lower risk investors in the emerging consumer loans pool, but clicking into it, the Junior,
higher risk investors are earning nearly 50 percent APY over 90 days on their DAI for
participating in this pool…but what about USDC?
Well they have the RWA pool, built in collaboration with AAVE, where you can earn yield on USDC
too, and clicking into that, you can earn 2.28 percent APR on your USDC, but also get
a bonus of CFG rewards, an extra 10.22 percent APR.
There are other options out there too, but won’t give you as high of rewards.
There is compound, aave, and a few others, as well as options on Ethereum Layer 2’s
like Arbitrum and Optimism.
I’m not a pro-farmer, I just understand there is a way to earn some good gains while
doing it in a bear market.
If you would like to learn more about yield farming, check out a channel that focuses
solely on it, like Taika Maeda….who farms across chains and layer 2’s
But what about having fun playing games, while earning a side income to put into the crypto
markets at these rock bottom prices, well I’m going to get into that and more, after
I cover this play to earn game, Farsite, which could provide those much needed gains during
this bear, and like always the full details can be found in the description.
Mark your calendars for July 7th for the official Alpha release of Farsite, the world’s first
real-time-strategy decentralized MMO play-2-earn game… and with over 500,000 already registered
players the anticipation could not be any greater.
The team behind the game is SuperNovae, gaming experts and the visionaries behind one of
blockchains first games MegaCryptoPolis.
They’ve been developing the Farsite Universe the last 3 years, building out the community
and lore and launched the currently playable pre-Alpha version of Farsite 6 months ago,
but the time has come for real gameplay strategy, real earnings and new adventures.
Let’s take a closer look at the game, it’s assets and the exciting announcements rolling
out over the next couple weeks
Farsite is set in a universe populated by spaceships and planetary bases in which players
can take on a number of roles ranging from explorer, merchant, miner, politician and
more.
Players can mine, process, transport and sell resources and items, explore planets and constellations,
and complete missions to earn Credits, an ERC20 token and the internal game currency.
Farsite is built on Polygon, ready for ETH 2.0 and all in-game actions are recorded using
ZK Relay.
All the assets in the Farsite universe are created, owned and controlled by the players
running in a trustless environment.
The main asset in the game are Spaceships, upgradable thru modules and there are no two
alike.
Ships are needed to play the game to explore distant galaxies, obtain and transport resources
and to battle enemies.
And Ships are not your average NFT, Farsite brings in a new era of token standards merging
NFTs and DeFi into one by adding intrinsic value to your NFTs thru what they call cNFTs
- or Collateral NFTs - NFTs infused with Credits, ERC20 tokens with real value.
Last December, Farsite pre-launched with the sale of Crates containing unique cNFT Spaceships
alongside 50 exclusive Coindesk branded Ships, selling out in a few hours.
These Ships can be purchased on the secondary market on OpenSea or the internal Farsite
Open Market, but with a strong desire from the community for more Crates the team is
releasing a new Alpha Crate Sale in just a few days, June 21st, in anticipation of the
Alpha game release on July 7th.
New users can buy and open an Alpha Crate to receive cNFT ships, valuable game items,
Credits, blueprints, modules and more
Farsite also recently launched a new scholarship program called the Pilot Academy, a truly
win-win scenario for Farsite ship owners and for newcomers interested in playing the game
and earning, but don’t have the capital to start.
Any player who owns multiple ships can start their own Academy and will receive 5% of the
ETH spent by their scholars as well as up to 70% of the Credits earned by renting out
your spaceship to new Pilots.
Scholars can use these Ships to start playing and earning and will also receive valuable
insights and mentorship from the Academy owner so they can earn and build their own ships
With the Alpha release only a few weeks away the upcoming short-supplied Alpha Crate sale
on June 21st is the best possible time for new users to stock-up on ships and items or
to become Pilots and join the Scholarship program so they can be in a position to start
earning while playing.
The Farsite universe has been long in development by a proven, all-star team and this project
has received a lot of positive publicity.
Don’t miss your chance to become one of the earliest explorers in the Farsite universe…
Visit the Farsite website and create an account, follow them on Twitter and be sure to join
their Discord where you can learn more about the upcoming Alpha Crate sale and new Pilot
Academy Scholarship Program, links to everything can be found in the description
And now back to more ways to earn in this bear market, by just playing games.
So I made a video about Moonsama Minecraft carnage, where you hunt for resources in the
minecraft world, and those resources can be turned into crypto, aka Moonriver, which has
actual value.
These events are only 2 hours, and take place every sunday…and if you are good, you can
earn upwards of this much.
Over 2 grand, each week for just 2 hours.
Not a bad side crypto hustle I must say…
Now to play Carnage, you need to have a Moonsama NFT which has a floor price of 2100 Moonriver,
which is over 30 thousand dollars.
Buttt there is also another way to play, with VIP tickets, which as we can see are currently
going for 70 Moonriver, which is only about 1 grand.
You can make that back, in just a session or two of Carnage if you're good.
So…the investment I would say is worth it…if you're ready to play, learn and earn.
Finally, there is another BIG play to earn game which is releasing during this bear market.
And that is Illuvium…which will be the first AAA, play to earn game to hit the scenes.
AAA?
Well Illuvium will be the first blockchain based game to use Unreal Engine 5, which was
just announced last week!!
Which is getting noticed by some of the biggest in the gaming space.
Gamestop annonouced also last week, that Illuvium NFTs, would be supported by their coming NFT
marketplace.
The game is currently in a private Beta, but the public BETA is slated for launch in the
next 1 to 3 months, meaning anyone from the public will be able to get their hands on
the game.
So how will you be able to earn with Illuvium?
Well you will be able to explore the Illuvium open overworld, capturing and collecting Illuvials,
the beasts that inhabit this world.
This can be incredibly lucrative, especially if a player manages to capture something rare
and powerful.
Which can be sold on marketplaces, like Gamestop’s.
You can also mine and harvest in the world, collecting resources to create in game items
like armor and weapons, which also are NFTs and can be sold in marketplaces.
But there is also the Battle Arena, where players will choose to battle each other to
prove who is the superior Hunter and has the best team of Illuvials.
Player can specifically call out other players in ad-hoc wagered matches in the Leviathan
Arena.
Where bets in Ethereum can be placed on the matches…even by spectators!!
How much can be earned, is yet to be seen…but I think it will be on a level not seen in
the crypto space.
Axie Infinity can eat Illuvium’s shorts.
Cheers viewers I’ll see you next time!