Bear market - previous experience / advice?

[SOKO-DEKE]

The best approach is to be patient and hold coins for an extended period of time. Adding more coins to your wallet is also a good idea, but you should be well-informed about the coins you are purchasing because many shitcoins will decline during this bear market and they never rebound back again. As a result, you should conduct thorough research before investing in any coin, but I'll advise you to focus more on Bitcoin.

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.
 

By embracing Bitcoin, you are moving in the right direction. All you need right now is enough patience and the persistence to try and hold out until your target is met. If you keep buying more and more of Bitcoin, you will eventually make a profit one day but all is time. Stop panicking if you are holding Bitcoin, according to the history Bitcoin bullrun is coming, but be aware that it could take some time before you start to earn.

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[Finestream]

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?

You are in the right tract with DCA. But what coins are you into? If you are doing DCA with bitcoin, that’s perfectly fine because bitcoin will have bigger chances to survive even the deep bearish market and once the market turns bullish, bitcoin price will always the first to skyrocket and reach its new ATH. That will be the start of reaping your fruits from long term hodling. However, with altcoins some have still great potentials to survive, but majority of them still fall to zero value particularly for shitcoins.

[Kasabus]

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.

Definitely not to rely on those YouTubers who didn’t even know if the projects they promote are worthy or not. So just DYOR so you will know what coins that have great potentials to invest, and do DCA because that will make you ahead of others in times of reaping. Also, if you can accumulate more bitcoin than other coins, that would be great because you’re up to the best coin in the market that will eventually give you bigger amount of profits.