Seven strategies to earn ETH in an NFT bear market

After the super bull market in 2021-early 2022, a large number of people left the NFT space. After all, the reality that has to be faced is that earning ETH by trading NFTs is now more difficult. And, since flooring prices have been affected for 90% of projects, community linkage is not as common as it once was.

We have also experienced oversupply (new projects/founders) and reduced demand (buyers). Newcomers will certainly be crucial in the next few years, before the bull market returns, but what do we do in the meantime? How can we survive this cutthroat market, earn some ETH, and hone our skills until the next bull market arrives?

Here are 7 tips that I’ve incorporated into my trading strategy that netted me over 15 ETH this summer. Hope they will help.

1. Whitelist

This way of earning money has not changed, because there is a high probability that getting a whitelist of popular projects will make you profitable.

However, unlike before, the whitelist of talent shows on Discord has disappeared. The key here is to be the holders of those who have a lot of collaborations and alpha projects.

2. Mint policy

When you have a whitelist, does that mean we’re going to all of Mint’s projects? No. Even if it’s free, I’m always waiting to see how Mint goes.

My experience is that at least wait until 75% of the supply is exhausted by Mint, and most importantly, the volume needs to be very high. Such NFT projects are likely to usher in a surge after Mint bottoms out.

90% of the time, I sell at that point and never look back. However, if the volume continues to remain at a very high level, then I will be trading throughout the day.

3. Tools and charts

There are many tools and charts to track projects, and I won’t list them here.

The only thing I use is Alpha Sharks.

No matter what tool you use, there are usually free tutorials in your project’s Discord, and YouTube can also be a great resource.

Seven strategies to earn ETH in an NFT bear market

4. Buy conservatively, sell aggressively

This is the most important point in this article. The biggest reason you’re facing a loss is probably doing the opposite of the headline.

We need to get rid of the saying “Degens will be Degens”.

In my opinion, losing ETH is not fun. Holding a project because you like “roadmaps” or art is not the best way to earn ETH.

FOMO getting into the project is a bad idea. I did keep some projects that were purely for art, and there’s nothing wrong with that, but if your sole purpose is to trade and make ETH, you can’t fall in love with a project.

Do research on the project and be patient when buying. For most people, always wanting to sell at the top is a bad idea, and unless you’re an advanced trader, it’s hard to grasp the timing.

So, what should be done?

When the floor price rises, sell and earn ETH.

5. Keep track of your gains and losses

Flips.watch is a pretty good site to check your profits and losses. But it doesn’t account for transfers, so if you use multiple wallets, it can be skewed. Personally, I create a spreadsheet that tracks the price (including gas) of the items I bought and the price at which I sold.

Also, if I invest in a blue chip project, I also record the ETH cost when I buy the project so that when I sell, I can see my realized gains in relation to ETH and USD.

There are many times (especially when ETH is so volatile) when I sell NFTs at a loss, but my total realisation investment goes up because ETH goes up at this time.

6. Don’t cling to items that have been sold

Degens always like to think about the projects they sold, they also like to look back at the NFTs they sold before opening the map, or think they sold it and can’t sleep, anyway, now you’ve missed the opportunity.

So, don’t do it again, one of the greatest things about this field is the opportunity to earn ETH every day.

If you’re always thinking about buying back an item you’ve sold after the price goes up, you’re ending up buying at the top and selling at the bottom.

If you get ETH from trading, then the task is done, looking for the next opportunity.

7. Hold down-to-earth projects and contribute to the community

Although this article focuses on flipping, it’s also important to have long-term holdings in your portfolio.

Maybe it’s because of the art, maybe they’re offering alpha or collaboration. Maybe you just like to be close to the community, enjoy attending events, and contributing your talents to the development of the project. These are just as important as Flip ETH.

After all, we are people in the same boat, let’s continue to grow and do our part to get more people into this field.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/seven-strategies-to-earn-eth-in-an-nft-bear-market/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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