Is it worth using trading bots in a bear market?

Making money on the crypto market or anyone else is difficult. And even very difficult, especially if we are on a bear market. Meanwhile, the „bear” expression has been used recently in crypto forums and groups by all cases.

The most serious problem for investors and traders

Approximately 96% of retail investors are reportedly losing while investing on financial markets. The most common reason for unsuccessful investments is emotions, and the ones we have to deal with, especially on crypto markets, play huge role. People who bought BTC during the 2017/2018 bubble at $ 19,000 and managed not to be driven by emotions and kept their coins despite the bubble burst, are still in big plus (despite recent drops). The same people using a Dollar Cost Average strategy (buying BTC for a certain amount every month) or using a BTC Accumulation bot on the SkyRocket platform has increased the value of their portfolio several times.

Are bots a rescue tool for a bear market?

If emotions are the main obstacle in making money on the crypto market, how can we trade without them? Algorithmic trading comes to the rescue.

Algorithmic Trading uses computer programs that follow specific set of instructions (algorithms) in order to make a trade. This type of trading can generate profits at a speed and frequency unattainable by a, so called “finger player”, trading manually.

Bot strategies are the defined sets of instructions that are used in algorithmic trading based on time, price or, for example, the point of intersection of two moving averages (MAs). By using various “instructions” for bots, it is possible to invest risky/less risky or short/long-term.

Bots from SkyRocket.Trade

Another very important element of using trading bots is the ability of limiting losses, which we normally cannot reconcile with. One of the most popular bots on the SkyRocket platform can be a good example here. It significantly reduced investors’ losses over the last month. Hodling BTC during this time would represent a loss of almost 50%.

The multitude of bots on the platform may seem overwhelming, but their choice should depend on our investment strategy (long-term, short-term) and pairs of cryptocurrencies, which in your opinion will do better in the long term and allow you to gain more BTC (below the YFI pair to BTC and BNB ).

SkyRocket registration

SkyRocket.Trade allows you to use bots on the most popular cryptocurrency exchanges as the company is the official broker of Binance, OKEx and BitMEX. Launching its bots should not be a problem even for novice users due to intuitive layout. And integrating SkyRocket.Trade with a crypto exchange is easy, especially when using the guidelines available on YouTube.