Tips for preparing for the next crypto bull run

Everyone in the crypto space longs for a bull run, which is a situation where the value of crypto assets such as bitcoin rises beyond the regular rate it used to be, and in order to take that to one's advantage and benefit from the rise, there's something that needs to be put in place to maximize our profit in such a period, and today I'll love to share my personal plans with y'all.

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Although I'm more of a novice in the crypto world, with just a handful of knowledge on how to trade, I at least know a thing or two about bull and bear markets, and I've been privileged to be guided by some mentors on how to maximize my profit in both situations, so I'll be using those as a yardstick for my preparation for the next bull run.

And although I haven't really made any plans up to this moment due to some financial challenges I'm going through, with the continuous speculation of a likely bull run happening, I guess I'll have to strategize and work on ways to not just meet my financial needs but to also put something in place as we patiently await the bull market.

Although, firstly, it's worthy of note that this is not financial advice and neither would I be liable for anyone who follows my steps, as I've stated, I'm more like a novice in crypto myself, so in a nutshell, the place of personal research and analysis shouldn't be downplayed before diving into preparation for the bull market.

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So without further ado, below are my plans:

• Have a shopping list: The first thing on my agenda is to identify the prospective high-flying crypto assets and create a shopping list for each one of them. Having a shopping list of what I want will help me cut down on excesses and the possibility of getting everything when all I need are a few. Aside from that, it'll help me narrow down the research I need to do to just a few, and in the end, I can come to a consensus on which to go for and which not to go for.

• Make researches: As we all know, crypto investment is a critical one that revolves around taking risks, but as much as we take risks, one shouldn't just jump into every crypto currency without making thorough findings about it and what it stands for. So with this ideology, the importance of doing research can never be overemphasized and should be done consistently to know if the coin is worthy of investment or not and if the project behind it is one that's focused on the long term or the short term, like a ponzi scheme that will make one run into loss and regret.

• Buy the dip: In preparation for the bull market, one must have enough crypto assets that can be sold when the price goes up so we can maximize profits, and one way to do this is to buy those tokens you've done research on and feel have a prospect of being hit by the bull market. Buying the dip simply means buying a coin at a cheaper price and continuously adding to it in expectation of a bull market, and when such a thing happens, you'll be able to sell your crypto assets for a higher price than the amount you brought.

• Set a limit sell order: Those who have had little experience in the crypto space will know a bull run can happen within a twinkle of an eye, and if one isn't well prepared, such a person might miss out on benefiting from such, so it's highly essential to set a sell limit order for some of our crypto assets, so that if a bull run happens in our absence, the sell order will still get filled in as much as the rise in price gets to the amount we set as a limit order, although this can also be at our disadvantage sometimes, especially when the price goes higher than the limit we set. That's why I said we should only set a few limit orders.

That's about all I've done in preparation for the next bull run, and the article was inspired by the Hive Naija community prompt, which you can see here to get more information.

Thanks for your time, have a productive trade.