This is my first graph. Obviously done not inappropriate way but the idea is that during the bear run, all these Down's tokens will gain value.
DOWN Token is a representation of - Bear Market.
UP Token is a representation of - Bull Market.
If we look at the UP's Tokens, we'll see that these tokens had a value between 0.31$ and 2$, during the bull run, these tokens increased all the way to 500$. Meanwhile, DOWN's tokens from 15 - 18$ dropped all the way down to almost near 0$. Some of Down token costs 0.07 - 0.008 and others just about 0.000004$.
I think, that during the bear market these Down's tokens will gain their value, and we should see UP's tokens decrease since a 1% change in the underlying asset is about a 3% change in DOWN or UP token.
However, here matter two important aspects:
1. BTC condition:
1.1 When BTC drops or starts correcting itself, all ALTCOINS will decrease as well, meaning that all DOWNS tokens are gaining value. (100 probability).
1.2 When BTC starts to grow/smashing new ATH, then all ALTCOINS also starts to decrease in their value and almost all DOWNS tokens are gaining their value (100 probability).
1.3 When BTC stops growing, stays in the new zone which is near the new ATH then either Altcoins drops or increases (50 / 50 probability).
2. Overall market condition - if it's a bull market - there will be a lot of difficulties to gain profit when there is a bear market - then it should be dead easy.
P.S This is not trading advice, do your own research before investing!!!