Lesson from the prolonged bear market

[deisik]

Also, it's better to buy in and average down the prices while you can as it will help you get a better and lower entry point, thus helping you get better profit margins

I can't possibly agree with this approach

And this is likely another lesson that everyone should learn. There is a time-tested and age-old trading wisdom which says to never add to a losing position, and this is exactly what averaging down amounts to. You do lower your breakeven point, that's true, but you do that in exchange for more exposure to a future price fall when it comes about. Now imagine the losses that people would have accumulated by now if they actually had been averaging down from the top at 20k. In short, it is a losing strategy, quite similar to martingale in gambling

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[exstasie]

Also, it's better to buy in and average down the prices while you can as it will help you get a better and lower entry point, thus helping you get better profit margins

I can't possibly agree with this approach

And this is likely another lesson that everyone should learn. There is a time-tested and age-old trading wisdom which says to never add to a losing position, and this is exactly what averaging down amounts to.

I'm with you. Among conventional traders, averaging down into a losing position is considered horrible form. It ignores risk management and is the quintessential example of letting losses run.

I'm bullish on Bitcoin long term, but I still think Bitcoin investors who average down are pretty crazy. I'd much rather wait for an obvious long term bottom than buy dip after dip after dip and then baghold.

[deisik]

Also, it's better to buy in and average down the prices while you can as it will help you get a better and lower entry point, thus helping you get better profit margins

I can't possibly agree with this approach

And this is likely another lesson that everyone should learn. There is a time-tested and age-old trading wisdom which says to never add to a losing position, and this is exactly what averaging down amounts to.

I'm with you. Among conventional traders, averaging down into a losing position is considered horrible form. It ignores risk management and is the quintessential example of letting losses run

And it is not only that

Existentially, it just shows that you don't know what you are doing (or whoever is employing this approach in practice). Because if you did, you would be either waiting patiently till the price hit the bottom or shorted the downtrend with balls to the wall. If anything, it makes sense to sell first and then buy back into a lower price, and that would lower your entry point in a less risky manner as well (actually, in a much better manner)

To sum it up, if you can’t take a small loss, sooner or later you will have to take the mother of all losses. And averaging down will make your pain only worse

[Magkirap]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

Its hard to earn in this bear market and all of us start losing hope because of the falling market. One of my lesson in this kind of market is you need to sell your tokens or coins in the right time and once you see its the right time you need to sell it out before you regret that you did not sell it.

[ryap12]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

Its hard to earn in this bear market and all of us start losing hope because of the falling market. One of my lesson in this kind of market is you need to sell your tokens or coins in the right time and once you see its the right time you need to sell it out before you regret that you did not sell it.

What I have learned:

RECEIVING NEW COINS/TOKENS FROM AIRDROP/BOUNTY - SOLD THEM RIGHT AWAY WHILE PRICE IS HIGH AND RE-BUY ONCE PRICE LOWERS.
TRADING - NEVER STICK TO ONE PAIR WHEN TRADING. CHANCES OF GETTING YOUR TRADING STUCK IS HIGHER THAN YOUR EXPECT.
AIRDROP - PARTICIPATE IN EVERY AIRDROP AS YOU MIGHT ACCIDENTALLY JOIN A HYDRO 2.0 AIRDROP
BOUNTY - ALWAYS CHECK THE TEAM, WEBSITE, PROJECT AND BOUNTY MANAGER TO AVOID FRAUD OR SCAMS. WASTE OF TIME IF UNLUCKY.
USE STABLE COIN/TOKEN WHENEVER A PRICE SPECULATION OF GOING DOWN.

[Dreamchaser21]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

The good lesson I’ve got during this bear market is that, to have more patience and try not to panic. Bear market is still strong and we might still see another dump but again patience can make you more comfortable about your investment, so learn from this trend now.

[joshy23]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

The good lesson I’ve got during this bear market is that, to have more patience and try not to panic. Bear market is still strong and we might still see another dump but again patience can make you more comfortable about your investment, so learn from this trend now.

Learn and start to adopt whatever the trend is going, you need to practice and you need to protect your money, this prolong bearish is really
hard to assess so better to keep your asset safe and aimed for long term instead of keep doing the trade without any assurance that you'll
going to get a good results.

[aris av]

It is indeed a good choice to buy, but with so long going down, I prefer to be patient and wait. I try to be patient so that in this difficulty I am not wrong in choosing.

[thecodebear]

I already posted what I learned from this bear market.

But what I learned from the previous bear market (my first) was to accumulate instead of selling haha! Classic beginners mistake. In mid-2015 I sold everything I had bought in late 2013 and 2014, and I sold at the bottom of the market in the $200s. Fast forward to 2017 when I saw the price was back over $1000 and the stupidity of what I had done HURT!

Thankfully having been through a bear market before I know to accumulate now and that's what I've been doing. And from my lessons learned this time I know not to trade during the bear market!

[Barbut]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

The good lesson I’ve got during this bear market is that, to have more patience and try not to panic. Bear market is still strong and we might still see another dump but again patience can make you more comfortable about your investment, so learn from this trend now.

Learn and start to adopt whatever the trend is going, you need to practice and you need to protect your money, this prolong bearish is really
hard to assess so better to keep your asset safe and aimed for long term instead of keep doing the trade without any assurance that you'll
going to get a good results.

Can we be honest and say how long awaiting that really is? Like I`m waiting couple months and it`s very long? Even in bullish market you need to have patience, if you sell with first rise you will not have nothing to sell when new all times high comes, patience is the key in bearish and bullish market. Lesson learned is that you need to be ready for next big rise, how else to be ready and prepared if not to have as many coins as you can, it`s how I see the things around, and it`s what I `m trying to do with cryptocurrencies.

[peter0425]

I already posted what I learned from this bear market.

But what I learned from the previous bear market (my first) was to accumulate instead of selling haha! Classic beginners mistake. In mid-2015 I sold everything I had bought in late 2013 and 2014, and I sold at the bottom of the market in the $200s. Fast forward to 2017 when I saw the price was back over $1000 and the stupidity of what I had done HURT!

It will really bite you in the ass. But nobody is perfect at least you have learn your lessons and not repeat the past mistakes.

Thankfully having been through a bear market before I know to accumulate now and that's what I've been doing. And from my lessons learned this time I know not to trade during the bear market!

See, now you're talking. This is really a perfect opportunity for everyone to accumulate but at the same time have the mental toughness and the courage to just HODL and wait for the right moment to dump your coins.

[magneto]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

Don't believe in FOMO buying, but don't believe in panic dumping either.

Both of these things are what causes people to lose out on their long term positions, because they are affected by emotions. Look at the fundamentals of bitcoin, it has not changed since the ATH of nearly $20k in 2017, yet people's perception of it are clouded by the fact that the market sentiment is extremely bearish.

What you should be really thinking in a bear market like this, assuming that you do believe in bitcoin and have the capability to invest for the long run, should be to load up as much cheap coins as possible through dollar cost averaging, instead of trying to time the bottom absolutely correct and/or panic dumping when others are doing so.

[deisik]

What you should be really thinking in a bear market like this, assuming that you do believe in bitcoin and have the capability to invest for the long run, should be to load up as much cheap coins as possible through dollar cost averaging, instead of trying to time the bottom absolutely correct and/or panic dumping when others are doing so

I wouldn't advise anyone to do that thing

Dollar cost averaging, averaging down, lowering your entry point or anything to that tune is all about adding to a losing position, by whatever name. I don't know how long this bear market is going to last or how low the prices are going to plummet yet but I'm 100% certain that people who have been averaging down since the 20k levels are not quite happy with the results of their investment decision. So think twice before following advices from random dudes on the Internet like this one

[glowing10]

It is indeed a good choice to buy, but with so long going down, I prefer to be patient and wait. I try to be patient so that in this difficulty I am not wrong in choosing.

Holding and waiting will help you because you can participate in the bull run, but when the surge happens we know it is very quickly and if overnight price rises by couple of thousand dollars and you will think the price are high and will wait again and price may rise again. SO in such cases people lose the opportunity.

[South Park]

I learnt that I had to decide if I was a trader or investor. Didn't do a very well trying to do both.

That is a choice that everyone must face, just some months ago I was a long term holder of bitcoin and while I still believe in bitcoin the only way to try to improve your profits during this bear market is to become a trader, it is not easy but if I become successful then I know that when the next bull market appears my profits will be way better than whatever I could get now, I am not making huge profits since I am still learning but I am making progress every day.

[Klausi]

As for my prerogative to this long termed bear market, I think there's no accurate idea behind in order to recover that easy. Since people now were more prone to panic as these days having lot of struggles, many new traders weren't able to move on yet that's why quick selling are likely to happen. In my opinions, the whales cannot move since other small traders always tend to have a weaker hands

[samycoin]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

All of us is experiencing that and it's a lesson to learn that not all is always on the top. Sometimes we need to listen about the news what will be happen in the market so we know what the next step we do.

[deisik]

It is indeed a good choice to buy, but with so long going down, I prefer to be patient and wait. I try to be patient so that in this difficulty I am not wrong in choosing.

Holding and waiting will help you because you can participate in the bull run, but when the surge happens we know it is very quickly and if overnight price rises by couple of thousand dollars and you will think the price are high and will wait again and price may rise again. SO in such cases people lose the opportunity

It doesn't happen all of a sudden

Well, to the majority of people involved with cryptocurrencies it can be this way exactly. But if you are an active and experienced trader, you would recognize the signs of a trend reversal. For example, if trading volume increases without price going lower, it is a sure sign of a future price rise. Just in case, we are far from that, so don't expect a price surge like a couple thousand dollars overnight in the near future. Two hundred will make most people happy now

[figmentofmyass]

the bottom is always further than you think---that's the biggest takeaway for me after both the 2014-15 and 2018-19 bear markets. it's because of recency bias. after 2-3 years of raging bull market, it's really hard to switch gears and recognize that sellers are taking over and that you can't just keep "buying the dip".

[wuvdoll]

Sincerely, it is not so easy with this long time dump/bear market. Long awaiting promises weakens the heart. I hope guys have learnt their lessons like when next the bull run appears you take the best opportunity and invest for the raining day. What's your lesson too?

During the peak times of bitcoin we have learned how to "trade" and how it works, all of us became daily traders, we decided we can make money this way, there was a lot of people that went "well if I can make 10% monthly like this I can make a living out of this" and hell I am sure there were plenty of people who quit their job to become full time crypto traders and so forth. But thanks to this lesson from the bear market, all of us learnt what "investment" means and how it works.

All of us saw the price drop and some of the people who got in at peak left because they lost money and didn't want to continue but other smart people realized how far can it go down ? We are constantly buying and dropping the dollar average and eventually when bitcoin increases again we will be in profit and making bank.