What can you do aside from sitting and waiting

[Stalker22]

Well, If you have money accessible to spend as you wish without taking away from your emergency fund, you can certainly use DCA as an investment strategy.  However, DCA is not a way to make money right away or immediately.

So, in a bear or down market, your primary objective should be to increase your cash flow and to find other side hustles.  Thats how you come out of the bear market stronger, and wealthier.

[SmartGold01]

When the market is down, what should we do? Should we just wait and watch the market’s every little move? No. What else can we do to earn money? That is what we should be asking.

There are people who doesn't know what to do when the price is low, it may be that they don't have money to accumulate bitcoin at that point or are waiting for more dip before they could buy and double their portfolio.
Then people that has funds can decides to open a short position for the market since it's sinking down for the past weeks/months now and they could have huge profits on a short position instead of opening for a long time position and its ends up getting liquidated.

[Ultegra134]

First of all, not every person has enough money to keep buying Bitcoin, and the DCA method is for those who are constantly investing in Bitcoin, and for that, you must be making enough money to have a separate portion of your earnings dedicated for this.

For side hustles, it's not as easy as you make it sound. You say it as if anyone can go around the internet, and find work that they can easily do and earn Bitcoin in return, but in reality, it's not that easy, even if you have skills you can sell, it's still not easy to find clients who will provide you work.

Lastly, it's not like every person who is interested in Bitcoin and cryptocurrencies are always sitting and watching the market. Every person has their lives going normally, they have jobs, families, and all sorts of things to do, so it's not necessary for someone to just sit and watch the market. You can do your things, and let the market do its.

I'm also annoyed by people who keep claiming to acquire side-hustles that pay in Bitcoin. It's already hard enough to find side-hustles, let alone that pay in Bitcoin; signature campaigns are one of them, but require quite a lot of work for someone new. It's certainly worth it, but quite a few newbies are trying to find shortcuts to this.

And the last part is also accurate. I'm hardly ever looking at Bitcoin's price anymore, if it falls or reaches a new ATH, I'll know it by randomly stumbling upon a news site that's mentioning it.

[Asuspawer09]

I mean if you're just a casual investors doing some kind of strategy like Dollar Cost Averaging, there was pretty much nothing you need to do its more like of a waiting game for sure since its a long term investment, You just need to continue buying every week or every month depending on your strategy, but could probably increase your buying power when the market is down like what is happening in the market right now. With just investing, just like I said, it's just a waiting game, but there are some things that you could do while waiting, like trading if you have some extra money, where you could also earn extra, but it's a little risky as well.

Personally do sidehustle while investing since it is better to increase my income and to get a lot of liquidity as well, because for me you need to have the financial foundation before even starting to invest so that your not gonna force to sell your crypto investment in any cases of emergency since you have that kind of savings or emergency funds, or maybe just have the liquidity to buyback or sell at any moment.

[Jewan420]

Your second suggestion is a bit confusing for me. What do you do for a living? Yes it can be done, but we should not be so serious about this. If your job allows you to work in this virtual world and provides you with enough time apart from work, then you can try. But it is not possible for most people.

Another thing is, do not get too excited about making money from Bitcoin. Because Bitcoin is not a get rich quick scheme and it is not possible to make money from Bitcoin quickly. DCA strategy is capable of giving good returns in the long run and can help you build a large fund. But do not forget that there are risks in long term DCA too, so invest with prudent money.

[danherbias07]

I think the last part is "Don't stop learning about Bitcoin."

Keep ourselves posted about recent news because we will never know what could impact the Bitcoin market. Different investments are opening, and different cryptocurrencies keep popping out. Plus, there's AI now, which seems to be the hype nowadays.
If we are holding Bitcoin for or long term, it's best that we update ourselves not just about its technology but how it also affects other countries as a currency and as an asset.

[joniboini]

I don't know if it's just me, but I find encouraging people to always be active on the market and find opportunities to buy when Bitcoin is "cheap" can be counterproductive. I think talking about the advantages of using BTC to pay for stuff or learning new skills would be better in the long term. I mean, everyone knows buy low, sell high is the strategy to make money, TA is necessary to find a good entry point, and whatnot.

It's a good idea to learn new skills so you can use them outside of crypto. Stuff like coding, design, etc, can be worthwhile as a hobby. Probably won't be as stressfull as watching charts to for some people.

[michellee]

That will depend on personal because they will figure out what they can do. Whether the market only have little move or getting down, they are free to decide. They can just sit and continue their DCA plan without a problem especially if they are busy with their real life. They can search for more opportunities to earn more. Nowadays, they can search for a job that pay in Bitcoin so they can use their skills to get another job. They can also learn more skills if needed so they can improve their old skills to be better.

[FortuneFollower]

If the person wants to do something - they will. But some prefer to sit back and relax after buying a bit of BTC yet again continuing their accumulation. It depends on the person in question.

[Viscore]

That is if you are solely focus on bitcoin without a daily job to attend. But if you have a permanent job that pays you and bitcoin is just a side hustle, I don't think the down market should bother you that much. Rather than pushing yourself to find other means to gain income, just consider this a short break from bitcoin and just come back once the market has recover.

DCA is also a good strategy. You can take some of your time DCAing if you have a current budget for bitcoin, but if you have not, its not actually bad to just keep hodling and just wait for bitcoin price to recover and hit its new ATH. At least, you are still updated with the current events in the market, and still updated with bitcoin.

[nemesis_incarnate]

That is if you are solely focus on bitcoin without a daily job to attend. But if you have a permanent job that pays you and bitcoin is just a side hustle, I don't think the down market should bother you that much. Rather than pushing yourself to find other means to gain income, just consider this a short break from bitcoin and just come back once the market has recover.

DCA is also a good strategy. You can take some of your time DCAing if you have a current budget for bitcoin, but if you have not, its not actually bad to just keep hodling and just wait for bitcoin price to recover and hit its new ATH. At least, you are still updated with the current events in the market, and still updated with bitcoin.

There is a thing which no money and coin can provide - our nerves and health, so I do agree with you.

[Uhwuchukwu53]

Despite the market need attention to know the direction to which the wave is moving as not to be Left behind, one really need focus on the information on the market system but diversifying your investment or acquiring other skills which will require little attention from you as it can also be income generating is very important because when all focus is on your investment in the market , it will affect you when the market is not going the way one predicted it and it can leads to so many unstable decision and regret, to sit and wait or watching with idleness is not ideal it can even course quick sale of holding mostly when holder is having a lot of issue at hand to handle and the unforseen circumstances, required more financial aid above what he budgeted.

[fikrett]

Despite the market need attention to know the direction to which the wave is moving as not to be Left behind, one really need focus on the information on the market system but diversifying your investment or acquiring other skills which will require little attention from you as it can also be income generating is very important because when all focus is on your investment in the market , it will affect you when the market is not going the way one predicted it and it can leads to so many unstable decision and regret, to sit and wait or watching with idleness is not ideal it can even course quick sale of holding mostly when holder is having a lot of issue at hand to handle and the unforseen circumstances, required more financial aid above what he budgeted.

Smart money usually moves in mysterious ways, and we wouldn't be able to read it before it's too late and we did something wrong, especially if we are using leverage.

Overall, if the talk is about BTC - nothing stops to get rid of the leverage and wait for years to see the results for sure, but many people cannot see a bit of red for so long.

[Yamifoud]

DCA can only be good for those who have prepared for this bear market, and have saved some extra funds intended to DCA. But if you are still on a tight budget and is hardly making ends meet, you can set aside DCA and perform it in the future.

Looking for side hustles that pay in bitcoin, you know its easier being said than done. There are a lot of side hustles but aren't paying in bitcoin, or there might be few, but it also requires some high quality skills and you don't have that, so you won't still be accepted.

The last is to learn more about bitcoin and develop more skills and strategies. I think this can be good for everyone, except for those who have busy hours working on their main job. But if you really have the eagerness to improve your bitcoin knowledge, you should reserve some of your precious time for bitcoin to gain more valuable insights and mastery about bitcoin.

[Pauldesaints]

So those who resides in the region where Bitcoin isn't acceptable for any form of transactions?
 The issue here is that one need to have another business your doing to sustain your self during this period.some who have much will still make use of the opportunity to maximise the number of Bitcoin in their stock too.

[darkv0rt3x]

I have just filled 2 documents to hand to my local "mayor" (I'm not sure it's the correct term) to apply to funds to start a project related to Bitcoin, Finance, Economics and Lightning NEtwork. It is an onboard project for Lightning Network and also a pedagogic project to educate people about finance, economics, blockchain and Bitcoin technology.
I'm not very faithful about the funds but I'll wait to see what is the response!

[OgNasty]

When the market is down, what should we do? Should we just wait and watch the market’s every little move? No. What else can we do to earn money? That is what we should be asking.

First, don’t forget that DCAing is a notable strategy. Instead of just waiting, this can be done to maximize the time where bitcoin is declining. Second, find side hustles that pay in bitcoin. There’s a lot of works in the virtual world where they pay in bitcoins. Third, learn more. Learn new skills if needed. But just try to learn more about bitcoin. I know I am already familiar with bitcoin, but there’s too many things I have not encountered yet and I believe I can be of better part of the society if I did understand that experience.

This is where diversification comes into play.  With interest rates on savings accounts paying over 4% in some cases, now is a great time to use your regular cash flow to accumulate assets that have gone on sale.

Anyone can ride a bull market and make gains.  It is making gains when everything is crashing that separates those who see massive portfolio gains one cycle to the next vs those that don't.

The best way to be on the right side of every trade is to be diversified.  Make sure that you come out ahead no matter what happens.

[crwth]

When the market is down, what should we do? Should we just wait and watch the market’s every little move? No. What else can we do to earn money? That is what we should be asking.

I mean, it depends on the person because not everyone can really watch every little move, or is it beneficial, but it's not going to help if you are going to focus too much on it. Personally, I am someone who puts myself in a position that has stop losses and then goes about my day, aside from my bot.

First, don’t forget that DCAing is a notable strategy. Instead of just waiting, this can be done to maximize the time where bitcoin is declining. Second, find side hustles that pay in bitcoin. There’s a lot of works in the virtual world where they pay in bitcoins. Third, learn more. Learn new skills if needed. But just try to learn more about bitcoin. I know I am already familiar with bitcoin, but there’s too many things I have not encountered yet and I believe I can be of better part of the society if I did understand that experience.

I don't think that is just the things that you could do, but maybe do some hobbies that you really want, not just about earning. Life is full of surprises, so you may be off with just doing something that is not all about money.

[uche6215]

DCA is not only for one season but at all seasons and people wait for different reasons. If the funds are not available at the time of the bullish and probably he loan them out for someone to use in a business and that loan is giving him interest every week or month, then it is better he use the money for the business and wait for the bear market to come. Because at that period he would make good profit ad when the price of Bitcoin comes down he can use that profit to invest in bitcoin or us the capital to invest and use the profit to continue the business. So if someone is waiting with reason we should not discuss the person.

It is profit we are all aiming at so if someone you do giving you the expected profit then we should allow the person to continue.

[Grace333]

Life still has other activities that keep someone engaged, so you can not just be glued to the screen waiting for Bitcoin to move.

DCA is definitely a solid strategy, but outside of that, you can still focus on side hustles, skills, or anything productive that brings in extra money.  The market will do whatever it wants to do, so the best thing is to keep living, keep learning, and keep building yourself.

Honestly, that balance can what makes the whole journey easier, you are not just waiting, you’re growing too.