In the last bear market, crypto was still in the discovery phase as users were wondering whether blockchain assets are a legitimate long-term trend or just a fad that should’ve been sold at the top. This time, the top industry players, including Microsoft, Google and Reddit, are moving into Web3 products, and top banks such as JP Morgan and Franklin Templeton are testing the waters by settling transactions on-chain.
Bear markets also bring uncertainty to builders. VC investment into Web3 startups has fallen to its lowest since 2020. VCs that were deploying rapidly in the bull market take more time to evaluate projects and weigh valuations before investing. However, bear markets come with an upside. They wash out the short-term arbitrageurs focused on money grabs and take crypto back to its roots — building a decentralized, secure and equitable future.
Here are five steps you can consider to get in shape to deal with the bear market blues and position yourself for what comes after.
Get a clear understanding of your runway
Check your treasury balance and extrapolate your costs for the next 12 months. Token treasury balances are volatile, so you may want to have enough dollar-denominated treasury to cover at least 12 months of cost. Make sure you…
