I have split my approach to making money in Crypto into three vectors, with different intensities and also returns over time.
Trading & Investing - what I mean by that is both short-term as well as medium term buying (and selling) of Crypto assets. While trading is rather technically-driven and shorter-term in nature, often not based on fundamentals, investing is the more longer-term approach which should be based on solid fundamentals. Since I do not buy shorts (except some cases of hedging), this is my major focus during a bull market.
Earning - this refers to monetizing existing Crypto assets through saving, lending, staking, LPing, …. you name it. This is a constant activity during all market phases for me, guaranteeing a basic return.
IDOs and airdrops - IDOs are typically a no-brainer during a bull market, since any shitcoins you buy (and are able to buy, because demand is high) will go up in value. Not so recommended in bear markets though, unless the price is right (which demands a much deeper due diligence). On the other hand, during the bear market is where you should work for future airdrops - be it through using of certain protocols, engaging in community, running nodes, … while there is no short-term return, the gains will come in nicely in the beginning of the next bull market.