Resource: Coinstats.app
5 months ago
Date: 22 Nov 2022 - 10:41

When you think of the Thanksgiving holiday you might envision a tasty bottle of wine a mouthwatering herbroasted turkey and a stunningly styled tablescape with warm shades of red orange and yellow foliage to set the festive mood. And its a universally acknowledged truth that conversation is best had over the holiday table. Moreover while were all entitled to our political views holiday dinners are all about connecting with loved ones and a great way to bring in discussions about crypto. Bitcoin has been considered a dinnertable mainstay since its big bang in 2017.Last years Thanksgiving dinners were all about the holiday menu personal achievements relationships and also most notably about Bitcoin memecoins NFTs and the Metaverse. With the rise of retail investing after lockdowns during the pandemic more people started investing in crypto. While crypto discussions were much easier as the markets were bullish and huge profits were expected with the Bitcoin price at its peak things have changed drastically since then. Crypto conversations have become a sensitive subject during the dark bear market of 2022 with some investors trying to avoid the topic altogether.To help you steer crypto talk in a safe direction this Thanksgiving and get from the turkey through the pumpkin pie sans spats weve prepared a detailed guide on discussing crypto in a bear market while avoiding that awkward silence.Lets get startednbspKey TakeawaysInform people about the huge potential the markets have and how bear markets are the right time to buy.Teach them important principles like always taking profits and investing what they can afford to lose.Tell them about not just trading but different avenues like staking yield farming etc.Why Talk to Family Members About Crypto at ThanksgivingThe important question to ask yourself is whether to follow the old advice to keep politics elbows and updated crypto off the dinner table this year. The crypto markets have been in turmoil lately and if you could brag during last years Thanksgiving feast about your new crypto investment its likely to be a sore subject this year.Due to the bear market of 2022 Bitcoin price is down 70 from its November 2021 alltime high price of 69000 and crypto investors worldwide have faced massive losses this year. Altcoins are no better with Cardano ADA and Solana SOL shedding more than 70 and 55 of their value. Moreover the crypto market cap is below 1 trillion down about 55 from 2.2 trillion at the beginning of the year.nbspHowever if youre a crypto veteran or have studied the limited but wild history of crypto you probably know that with max pain in the industry comes an opportunity to bounce back higher. Do you think your loved ones can benefit from shortterm price drops and weather the storm by investing in valuable assets that will survive the bear market Then you should make the most of this years Thanksgiving holiday and discuss crypto investment advantages with your family members as long as they remain curious and open to the conversation.By investing in crypto during the 2022 bear market they have the opportunity to make lifechanging money achieve financial freedom or earn passive income.How to Make It a Crypto ThanksgivingNow that we know why we must talk crypto during the holiday season lets learn how to engage in polite and productive conversations with our family members or friends. Well discuss the two most likely scenarios that might occur when you talk about crypto around the holiday week or during Thanksgiving dinner. So follow along and get ready to have some fun and maybe stressful conversations.First Scenario The Interest in Crypto Markets Is Already ThereThe best scenario for you is when everyone around is aware of you have been investing or trading cryptocurrencies for some time now. While theyve stayed away from the topic theyre currently interested in how the bear market has affected your investments. People will directly reach out to you and ask questions about your assets in the crypto market and how the drop in crypto prices has affected you. Now that theyve come to you its the right time to tell them how they can benefit from the bear market and make lifechanging money. You can introduce them to the best projects other than Bitcoin Ethereum or the popular NFTs and tell them it might be the right time to invest by bringing examples of investors whove made millions of dollars from investing when crypto prices were down.Ensure they understand the crypto industrys highly volatile nature and introduce them to the rule of investing what you can afford to lose. Tell them about the importance of using the right tools while investing in crypto and youre done. Youve set them up on the path to achieving financial freedom or establishing a passive income.nbspPro TipDo not force anyone to invest if they dont want to and always give them the resources to do their own research. Second Scenario Theres Opposition Against CryptoThe worst scenario if you want to talk about crypto this Thanksgiving is that people around you have always been skeptical of the industry and the technology. Theyve heard of all the scams and collapses that happened in crypto especially in 2022 starting with Luna 3AC Voyager Celcius and more recently FTX. They bring about data from the past year to demonstrate how much money people have lost. If you try to bring up NFTs and how almost every celebrity or big multinational corporation is getting into them they counter it with the recent fall in NFT prices. What should you do in such a situationnbspThe answer is simple. Just ask them to zoom out and look at how much investors in Bitcoin or other major projects have gained in the last 5 years. Introduce them to the concept of always investing during a bear market to sell later at the right time to earn huge profits.nbspYou can also tell them about the benefits of staking yield farming liquidity pools airdrops etc. Consider that many people opposing crypto are unaware of these and only look at the charts and the prices. Another way to convince them is by demonstrating how companies like Meta are pivoting towards the decentralized Metaverse built using blockchain technology. Even if they dont listen to you data of big companies making huge bets on crypto will make them consider crypto investment opportunities.nbspFinal WordTalking about crypto during holidays is slowly becoming a tradition. Asnbsp Meltem Demirors chief strategy officer at digitalasset firm CoinShares says Everyones going to be talking about cryptowhat else is there to talk about Are you going to talk about movies Are you going to talk about sports Are you going to talk about the weatherNow youre an expert on how to talk about cryptocurrency this festive season. So ensure to introduce your loved ones to a onceinalifetime opportunity during the Thanksgiving dinner or after the dinner when your family gathers in the cozy living room to lounge and digest.

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