Bitcoin Forum

To explain my situation in the most simple way possible:

1) I bought in when the market cap was above 700 billion, very close to 800 billion on the second week of January right before the first major correction of the new year happened. as a result, all of my coins are suffering very badly right now, especially the alt coins because they have plunged drastically from the initial price that I bought it at. feel free to flame me because I know that I clearly made a newbie mistake and I definitely regret it.

2) My total investments in USD equal around $3000. I put $500 into BTC, ETH, LTC, respectively and and spread the remaining $1500 into 12-13 different altcoins.

People have recommended me to employ the 'dollar cost average' strategy, putting more $ (possibly doubling) into the current coins i am holding to help reduce the losses but I have second thoughts about this. I was wondering from a 1-year HODLER's perspective, is it really worth it to do that or is it better to just not worry about it and HODL? I know 1 year is not exactly long term from a true investor's point of view, but for me, that is considered long term and I am planning to pull out by the end of December of this year. what do you guys think? if I want to make as much profit as possible by the end of the year, would it be a wise move to buy more? or better off just holding? does it make any big difference?

If you have loads of disposable income that you can afford to lose, double down and employ the dollar cost average strategy.  If you are sure everything has reached the bottom and will definitely rise from this point on, employ the dollar cost average strategy.

Otherwise read this  https://www.thebalance.com/what-does-catching-a-falling-knife-mean-1344945  and wait for a definite trend reversal before buying more.

I think for long term just hold your portfolio and if you have some extra money buying this big dip can yield good results and that too relatively quickly.

What I can tell you is that the 2 choices are good but it depends on your budget and financial situation , I know that you lost approximately 50% of the value of your assets but be sure that if you Hodl I can guarantee to you that you will have the assets value back in few months maximum , if you decide also to put more money it will be great choice because the prices are so low nowadays and when they will rise again you will make a considerable profit , still your decision dude anyway

if you bought 1 year ago you should still have a decent profit. it looks like you want to invest more because people say it is smart , but you should do it because you think it is smart.

Only put in the amount you are able to afford to lose and which you can also ignore for at least a year. I've been also thinking paying in more what I actually did, because currently money is just lying in my bank account and I don't need the amount in the upcoming years. So I will cost average my coins by buying low now.

It is not even a question, if you can average down do it. Because you will make it so your asset doesn't have to climb all the way back up and you should be able to buy it because one you manage risk well and two you have faith in the project. Why else would we get involved in cryptos right ;).

If I were in your shoes, I would hold it till the end of 2018. I think the market will fully recover until the end of the year.

However, next 2-3 months will be very harsh. If you don't need the money to cover live expenses, Hold.

Dollar Cost Average is a great strategy if you dont want to or cant time the market.
It is hard.

Completely agree here. Harsh months coming, that are not for the light hearted. The big players are trying to come in cheap, which may take some time.
Some shitty coins however will never recover.