Seven Strategies to Earn ETH During an NFT Bear Market
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Seven Strategies to Earn ETH During an NFT Bear Market
In the coming years, before the bull market returns, new participants are of course crucial—but what should we do in the meantime?
Navigating Web3 tides with focused insights
Written by: James Adams
Compiled by: TechFlow
After the massive bull run from 2021 to early 2022, a large number of people have left the NFT space. The reality is that earning ETH through NFT trading has become significantly harder. Moreover, with floor prices of 90% of projects impacted, community engagement is no longer as widespread as before.
We are also facing oversupply (new projects/founders) and reduced demand (buyers). In the coming years, before the next bull market returns, newcomers will certainly be crucial—but what should we do in the meantime? How can we survive this brutal market, earn some ETH, sharpen our skills, and prepare for the next bull cycle?
Here are seven tips I’ve incorporated into my trading strategy, which helped me net over 15 ETH this summer. I hope they help you too.
1. Whitelists
This method of making money hasn’t changed—getting whitelisted for hot projects greatly increases your chances of profit.
However, unlike in the past, performing talent shows on Discord to get whitelisted is no longer effective. The key now is to become a holder of projects that have strong partnerships and provide valuable Alpha.
2. Mint Strategy
Having a whitelist doesn’t mean you should mint every project. Even if it’s free, I always wait to see how the mint unfolds.
My rule of thumb is to wait until at least 75% of the supply is minted, and most importantly, trading volume must be very high. Such NFT projects are highly likely to experience a sharp surge right after minting ends and hits its bottom.
90% of the time, I sell at that point and never look back. However, if trading volume remains consistently high, I may continue trading throughout the day.
3. Tools and Charts
There are many tools and charts available to track projects—I won’t list them all here.
The only one I use is Alpha Sharks.
Regardless of which tool you choose, there are often free tutorials available in the project’s Discord, and YouTube can also be a great resource.
4. Conservative Buying, Aggressive Selling
This is the most important point in this article. The biggest reason you face losses is likely doing the opposite of what this headline suggests.
We need to move beyond the mindset of “Degens will be Degens.”
In my view, losing ETH isn’t fun. Holding a project simply because you like the roadmap or the art is not the best way to earn ETH.
FOMO-ing into a project is a bad idea. I do hold some projects purely for art, and there’s nothing wrong with that, but if your sole goal is trading and generating ETH, you cannot fall in love with a project.
Do your research and remain patient when buying. For most people, always trying to sell at the top is a flawed strategy—it's difficult to time the market unless you're an advanced trader.
So what should you do instead?
Sell and take profits when the floor price rises.
5. Track Your Gains and Losses
Flips.watch is a decent website to check your profits and losses. However, it doesn't account for transfers, so it may be inaccurate if you use multiple wallets. Personally, I created a spreadsheet to track the price I bought each project at (including gas) and the price I sold at.
Additionally, if I invest in a blue-chip project, I also record the ETH cost at the time of purchase, so when I sell, I can see my realized gains in both ETH and USD terms.
There are many times—especially given ETH’s volatility—when I sell an NFT at a loss, yet my overall portfolio value increases because ETH has risen in price during that period.
6. Don’t Obsess Over Projects You’ve Sold
Degens always tend to obsess over projects they’ve sold. They love looking back at NFTs they sold before the project "went up," or lie awake thinking they missed out—regardless, the opportunity has passed.
So stop doing that. One of the greatest things about this space is that there are new opportunities to earn ETH every single day.
If you’re constantly thinking about buying back a project you sold after it goes up in price, you’ll end up buying at the top and selling at the bottom.
If you’ve already taken profits from a trade, the mission is accomplished—move on and find the next opportunity.
7. Hold Grounded Projects and Contribute to Communities
Although this article focuses on flipping, it’s equally important to hold long-term projects in your portfolio.
Maybe it’s because of the art, maybe they offer valuable Alpha or partnerships. Or perhaps you simply enjoy being close to the community, attending events, and contributing your talents to the project’s growth. These aspects are just as important as flipping for ETH.
After all, we’re all in this together. Let’s keep growing and do our part to bring more people into this space.
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