Bear market - previous experience / advice?

[JamesDaniel90]

Hi all,

I have been in crypto just over one year now and it has been an interesting year to say the least.

When I first started my crypto journey I didn't know anything about cycles and just started investing as there was a lot of noise around it at the time.

Due to the crash we have experienced this year my portfolio is currently 40% down but I have not sold anything have just kept dollar cost averaging and buying more at the bigger drops.

I am expecting most of 2023 to be the same and I plan on sticking with my dollar cost averaging but must admit there have been days recently where I have panicked slightly asking myself If I am doing the right thing investing in crypto. I think this is down to constantly seeing the market fall and feeling like it is going to take a lot for it to reverse and see better days again.

I am just after any advice or personal experience from others who have been through previous bear markets?

[dimonstration]

You are doing the right thing for doing DCA. The only thing I want to know is what crypto you are investing right now because DCA might give you a terrible loss if ever you are investing on shitcoins that token vesting is still not completed. Your money will just become an exit liquidity to early investors. Do a thorough research about tokenomics of the crypto you are holding. Much better if you will just purchase Bitcoin during this crypto winter since it’s only coin that have a high survival rate compared to shitcoin to make your DCA time worth it in the future.

[_act_]

Keep on to DCA and do not panic, the right time for making profit from your investment is coming. To be losing makes investors to be unhappy and they will feel like they should sell the coins. Do not sell and wait until the right time to sell. That could take more than a year.

Some people said that the cycle is over, but do not still believe that, 2024 is going to be a massive bull run.


Hope you only buy better cons like bitcoin? There are many that are shit coins.

[Lucius]

@JamesDaniel90, why do you repeat the same questions and open new threads, do you think that makes any sense? This kind of behavior will not bring you anything good, think before you repeat this kind of stupidity.

I have been in crypto almost 1 year now and has been an interesting year to say the least. When I bought my first crypto in January I didn’t know anything about cycles and just started investing after a friend had been telling me for months to do so.
~snip~

[JamesDaniel90]

I only started investing in Bitcoin after the June crash as I felt it was too expensive up to that point. My current average buy is £16k which I am happy with and in the last 2 months my main focus has been Bitcoin and will continue to be until we start going up again.

Looking at my portfolio most of the altcoins I hold are 55%- 25% down with one (Quant) being up 40% currently.

[mk4]

You're doing good by dollar cost averaging — but the better question is, what are you actually buying? Make sure you're actually buying coins/tokens that you're actually confident(with ample independent research and all that) in, and not some YouTuber pump and dump stuff.

[aoluain]

You're doing good by dollar cost averaging — but the better question is, what are you actually buying? Make sure you're actually buying coins/tokens that you're actually confident(with ample independent research and all that) in, and not some YouTuber pump and dump stuff.

...or better still just DCA into Bitcoin and forget about altcoins.

The main cycle in Bitcoin is the halving which happens every 4 years, so that's a 4 year
cycle between each halving. In those 4 years we experience all aspects of the
market movements from the highs of the bull markets to the lows of the bear markets.

This also means that anyone who is only in Bitcoin for 1 or 2 years have not fully experienced
everything the markets can produce.

Being in Bitcoin for over 4 years teaches us primarily not to panic. For example I am in
crypto since January 2017 so I have experienced all the highs and lows within 2 halving
cycles (but not a full 4 year one)

I bought Bitcoin first at $1000, I have been well rewarded for being patient, believing in the
future and HODLING!

[Note3]

Patience and not panic is the key to staying afloat investing in crypto.
If your target is the long term but always focus on price movements then panic will arise, especially when bad news appears.

DCA is a good strategy for the long term and those who are successful with that strategy will only believe in the target and not think about all the bad news that is spreading.
And one more key, keep it in the coin in a personal wallet, not an exchange or online wallet, and only use DCA on Bitcoin, not altcoins.

[JamesDaniel90]

You're doing good by dollar cost averaging — but the better question is, what are you actually buying? Make sure you're actually buying coins/tokens that you're actually confident(with ample independent research and all that) in, and not some YouTuber pump and dump stuff.

...or better still just DCA into Bitcoin and forget about altcoins.

The main cycle in Bitcoin is the halving which happens every 4 years, so that's a 4 year
cycle between each halving. In those 4 years we experience all aspects of the
market movements from the highs of the bull markets to the lows of the bear markets.

This also means that anyone who is only in Bitcoin for 1 or 2 years have not fully experienced
everything the markets can produce.

Being in Bitcoin for over 4 years teaches us primarily not to panic. For example I am in
crypto since January 2017 so I have experienced all the highs and lows within 2 halving
cycles (but not a full 4 year one)

I bought Bitcoin first at $1000, I have been well rewarded for being patient, believing in the
future and HODLING!

Good to hear from those like yourself who have been in this space many years. Luckily I am quite patient and happy to wait another 12-18 months to see profit.

I have Bitcoin plus 6 altcoins of which 4 of them I will not touch for a while as I feel we will go lower so would rather catch the very bottom which would help reduce my average price a lot.

For now I am just dollar cost averaging into Bitcoin and 2 of the altcoins I am more confident with.

[348Judah]

Due to the crash we have experienced this year my portfolio is currently 40% down but I have not sold anything have just kept dollar cost averaging and buying more at the bigger drops.

You've adopted a good strategy to accumulating your coin but the question now is on what type of cryptocurrencies are you really investing on, remember there are many shitcoins out there and you need to be very care by making your investments majors on bitcoin then few other cryptocurrencies you're sure of after you might have conducted enough research on them.

I am expecting most of 2023 to be the same and I plan on sticking with my dollar cost averaging but must admit there have been days recently where I have panicked slightly asking myself If I am doing the right thing investing in crypto. I think this is down to constantly seeing the market fall and feeling like it is going to take a lot for it to reverse and see better days again.

Provided you have the good understanding of how risky some cryptocurrencies could be to invest on them, taking for instance the FTX scam/bankruptcy the recently occur, alot of people were affected and there's no remedy to this kind of attack, crypto in general follows the dictate from bitcoin price, others fall massively whenever bitcoin falls while sone never regain back to existence after their entire collapse which makes bitcoin the king of cryptocurrencies, just know the risk involved before you invest on cryptos but choose bitcoin for the start and have it to cover higher percentage of your investment than any other.

[ice18]

Just always buy the dip and keep holding until bull market comes you have to plan when to sell it in the next bullrun so you need a target price to take profit, the last ATH is at $67k the next target based on TA is at 150k-200k or much higher we dont know just speculations so better take profit along the way.

[Oceat]

Just keep doing the DCA, it might not make sense right now but through patience you will see the results until the bull market comes/started. You will be thankful that you trust yourself to endure the long wait because you have patience when you gain the profit that you want.

Just learn what the other's have been experienced in the past and by doing what you did today you will be surprised how cheap you bought those coins and will continue to amaze when it pump.

The question now that remains is what coin(s) did you invest your money? It could be a waste if you invest it on a pump and dump shit coins.

[tech30338]

My advice to you is , if someone give you an advice, don't just follow what he/she say, research look for other reviews and opinion, look at what you study or research and compare it with those who you ask for guidance, also focus on top coins, don't settle for shitcoins, they were sometimes just hype by youtubers and social influencers, better focus on your goal and not with your emotion, if you do those things you'll be alright.

[Pmalek]

It wasn't that long ago that Bitcoin was worth $4.000 and then it exploded and went to almost $70.000 during a global epidemic. I am not even going to mention previous cycles and bear markets. But if you have taken the necessary precautions and understand that the money you invest in an asset such as bitcoin is not something you necessarily need today or tomorrow no matter what, you won't be to concerned about the current value. No one likes to see red across their entire portfolio, but we are all in the same boat. If you believe in the technology long-term, concentrate on something else and don't beat yourself up because of the current state of the market.

[RapTarX]

Due to the crash we have experienced this year my portfolio is currently 40% down but I have not sold anything have just kept dollar cost averaging and buying more at the bigger drops.

40% isn't that much, is it? & it's of course not much if you are ALL IN BTC. What are you DCAing? Is that BTC only or do you have altcoins as well? If your portfolio has altcoin as well, I guess it's a risky method you are following; if only BTC, I guess there's nothing to be worried about. In 2019, I created a thread about why DCA is such an investment model in case of BTC that you shouldn't worry much about. You can check the previous return history for DCA method here- https://dcabtc.com/

[mk4]

...or better still just DCA into Bitcoin and forget about altcoins.

The main cycle in Bitcoin is the halving which happens every 4 years, so that's a 4 year
cycle between each halving. In those 4 years we experience all aspects of the
market movements from the highs of the bull markets to the lows of the bear markets.

This also means that anyone who is only in Bitcoin for 1 or 2 years have not fully experienced
everything the markets can produce.

Being in Bitcoin for over 4 years teaches us primarily not to panic. For example I am in
crypto since January 2017 so I have experienced all the highs and lows within 2 halving
cycles (but not a full 4 year one)

I bought Bitcoin first at $1000, I have been well rewarded for being patient, believing in the
future and HODLING!

That's what I'll mostly say to people in general, but it's OP's decision in the end. I don't blame people that likes to attempt to take more risk to potentially have increased gains, as it's totally fine as long as they totally understand the risks they're taking.

[Rikafip]

I am expecting most of 2023 to be the same and I plan on sticking with my dollar cost averaging but must admit there have been days recently where I have panicked slightly asking myself If I am doing the right thing investing in crypto. I think this is down to constantly seeing the market fall and feeling like it is going to take a lot for it to reverse and see better days again.

Occasional panic and questioning yourself whether you are doing the right thing is perfectly normal when you are experiencing bear market for the first time. I went through exactly the same thing duirng my first bear market and everyone else I know. Its completely normal to think that bitcoin may never reach previous prices, and the more people feels that way, closer we are to the bottom.

Like you, I am also doing DCA (unlike you I wasn't waiting for price drops and instead I was buying at regular intervals no matter the price) during previous bear market and what I can tell you what helped me, and that is to remove all price tracking apps that you have and to stop visiting Coingecko/CMC and to stop looking at prices in general. Once you stop obsessing yourself with the current price, you will find it much easier to focus on your goal, and that is to get as much bitcoin as you can.

[cryptoaddictchie]

As long as you are buying solid coins and tokens while doing dca theres a bright future ahead when the bull market kicks in again.

It would take long before that to happen again but its fine the cycle must have happened in order to have a healthy marketmovement. Its not like everyday we experience bull so bear are always there to balance the need of a good cycle. Invest money that you dont need to lessen the expectation.

[hugeblack]

Most of us have witnessed one or two bear markets, and therefore the experiences received cannot be taken as investment advice, in addition to the fact that Bitcoin is changing rapidly.
As for whether this is good, it depends, if you do not need that money for a period of 5 years, it may be the best investment for you, but if you can invest in other things, then invest and then buy bitcoin, as we are not expected to witness a significant increase during the next year.

[The Cryptovator]

Check the previous history, so you can learn a lot of things. The Crypto market faces a lot of bears & bulls in the past. But eventually, you will find holders were gainers every time. Pani sellers always get rekt I have seen so far. So don't panic due to the current bear market. If you are capable to buy more which won't affect your life then you may invest a bit more. When a bull will start all of your funds will be recovered so quickly and you may get a good profit as well. The main condition to earn from crypto is to be patience.