Getting a nosebleed underwater is not just annoying, it
can be life threatening.
Sharks are trained to follow the scent of blood in the
water, and they will come for miles if you start bleeding.
Nosebleeds during scuba diving normally occur when
changing depth, and a great rule of thumb for avoiding nosebleeds is to
resist the temptation to change depths quickly:
-
At descent, the mask squeeze" pressure can cause a
nosebleed.
-
At depth, when you begin to ascend, and nosebleeds
are common because of the compounding effect of decompression.
A slight ascent causes the gasses to expand, and this
expansion, in turn, adds additional buoyancy. I have a ruptured
eardrum, so I have to wear a nasty head mast to lock water out of my
eardrum.

Beginner scuba divers are susceptible to nosebleeds
It's not uncommon for a beginner to ascend 20-30 feet
in just a few seconds, and in addition to being embarrassing, it can
cause the blood vessels in your nose to burst!
Nosebleeds when scuba diving are dangerous
When I had a nosebleed, I was rising from 100 feet, and
I noticed what appeared to be a green fluid filling the inside of my mask!
At depth, red colors are masked by the water, and blood appears green.

Blood inside your mask looks green underwater
If you detect a nosebleed underwater, in shark infested
water, it is definitely an emergency and you must make a fast decision about
a controlled ascent or an emergency ascent followed by a half day in a
decompression chamber. If you are in an area without a decompression
chamber, you and your buddy should plan as fast an ascent as possible.
I'm only a beginner, but this is what did when I got a nosebleed at 80
feet underwater:
Step 1 - Strep-down you mask, very tightly to prevent
leakage
Step 2 - Look for sharks, They can swim-in quickly from
out of nowhere, of it might make you feel batter.
Step 3 - Ascend to 30 feet as quickly as possible and
decompress while keep out a sharp eye for sharks.
Step 4 - Get your butt out of the water as soon as
possible.
Nosebleeds can take months to heal, and as a safety
precaution, I keep
Silver Nitrate cauterization applicators. It's the exact same way
an ENT physician will fix a nosebleed, but faster and cheaper.

Silver
Nitrate will quickly cauterize a nosebleed