How do you maintain conviction during a bear market

[Hatchy]

I'm quite new to investing in Bitcoin and I've been lucky enough to start my accumulation at very attractive prices during this bear market. It's easy to have confidence when prices are going up but I want to be prepared incase Bitcoin goes down further.

I'm curious what are the things people do to keep strong conviction during times like this. Do you maintain conviction through focusing on the long-term growth of Bitcoin? Sticking to a strict DCA plan? Simply ignoring short term price action?

You just need to silence all the noise. If you go online right now, you will see so many view of the market from different so-called experts. Some of them are right, but majority just post for the fun of posting. They confuse newbies with their own convictions and someone who is still very new might end up making wrong decisions based on what he saw or heard online. It's better to avoid them completely so you make decisions based on your long term investment goals..if you are the type that uses DCA, which is the best strategy to stay at the top of the market, then don't worry yourself. Just continue with your accumulation but have it at the back of your mind that the market can make moves which on one controls.

[jcojci]

Just believe that Bitcoin will have the right time to increase after this. You should sticking to a strict DCA plan and focus and not disrupt with anything including the price fluctuation.

If the price is drop, you have a chance to buy at a low, you might not see that happens in the future and if you already allocate money running DCA, you should continue no matter if the price still goes down.

Bitcoin will have time to rise and if you already have Bitcoin, you can decides when to sell and take profits. No need to think about other people said, they don't always know what happens.

[Proty]

The best possible way is to have a long term mindset because without this little market decline will push us into making decisions based on emotions. When we are in with long term mindset, bear market will be considered as an opportunity to buy more bitcoin instead of selling. Also following the right investment plan, like investing with discretionary funds can also make an investor not panic during bear season. A good understanding of how the market works can also strengthen our convictions and the ability to be patient while ongoing with our bitcoin accumulation regardless of whether it is bear season or not. Bear season should be seen as an opportunity of buying more bitcoin, this will greatly strengthen our convictions.

[Cyber_warrior]

I'm quite new to investing in Bitcoin and I've been lucky enough to start my accumulation at very attractive prices during this bear market. It's easy to have confidence when prices are going up but I want to be prepared incase Bitcoin goes down further.

I'm curious what are the things people do to keep strong conviction during times like this. Do you maintain conviction through focusing on the long-term growth of Bitcoin? Sticking to a strict DCA plan? Simply ignoring short term price action?

The journey is always something complicated at start but with time we get to gain much experience and understanding of how things work out. I hope you are having the mindset of holding for long and hope you ain’t just here for the profits which people thinks comes in short term holdings because such approach is totally wrong.

Approach bitcoin accumulation with caution and gradually don’t rush into making fast money focus on the long term goals of bitcoin and with DCA the journey is just stress free and easily one can keep buying consistently without any high risk.

[Crytohillss]

I'm quite new to investing in Bitcoin and I've been lucky enough to start my accumulation at very attractive prices during this bear market. It's easy to have confidence when prices are going up but I want to be prepared incase Bitcoin goes down further.
I'm curious what are the things people do to keep strong conviction during times like this. Do you maintain conviction through focusing on the long-term growth of Bitcoin? Sticking to a strict DCA plan? Simply ignoring short term price action?

So many persons online talk with confidence like they can predict every move in the market and that's what traps a lot of people,  at the end of the day having a clear method and sticking to it matters more than chasing every opinion one see on online. DCA really helps take away emotions from investing especially during uncertain period market can always do his things but consistency and discipline usually win over panic.

[abaeze]

I'm quite new to investing in Bitcoin and I've been lucky enough to start my accumulation at very attractive prices during this bear market. It's easy to have confidence when prices are going up but I want to be prepared incase Bitcoin goes down further.

I'm curious what are the things people do to keep strong conviction during times like this. Do you maintain conviction through focusing on the long-term growth of Bitcoin? Sticking to a strict DCA plan? Simply ignoring short term price action?

Its price goes up and down but it never ends and every year the price touches a new ATH and this movement gives me the motivation to survive in the bear market. Another thing is that its supply is limited i.e. only 21 million which is why its value is likely to be higher than any other asset in the future. So those who see its volatility and sell it in the bear market because of fear are mainly doubting its security and system or lack proper knowledge, which is why this kind of mentality is created.

[ViWNF]

For me the chart is not the thing that breaks conviction. Its the silence after the drop. Chats go quiet, people who were loud stop posting, threads slow down. Honestly that part tests new holders harder than red candles do

[Tmoonz]

The best possible way is to have a long term mindset because without this little market decline will push us into making decisions based on emotions. When we are in with long term mindset, bear market will be considered as an opportunity to buy more bitcoin instead of selling. Also following the right investment plan, like investing with discretionary funds can also make an investor not panic during bear season. A good understanding of how the market works can also strengthen our convictions and the ability to be patient while ongoing with our bitcoin accumulation regardless of whether it is bear season or not. Bear season should be seen as an opportunity of buying more bitcoin, this will greatly strengthen our convictions.

Your points are well spotted on and I agree with all that you have said and another way we can strengthen our conviction too is to build confidence in Bitcoin potential even though nothing is guaranteed, not paying attention to  negative sentiments from Bitcoin critics because that is another part where most persons gives up when they allow themselves to be carried away by by negative sentiments, it drains their conviction and at such make wrong decision, you will agree with me that whenever there is decline there is so many rumors of what could be the reason, bitcoin is created to be moving up and down so when it declined we buy at discounted instead of taking decision by emotion, bitcoin operates in bear and bull market and after every bear market comes the bull market and this should a strength to boost one conviction.

[Gost ms]

I'm quite new to investing in Bitcoin and I've been lucky enough to start my accumulation at very attractive prices during this bear market. It's easy to have confidence when prices are going up but I want to be prepared incase Bitcoin goes down further.

I'm curious what are the things people do to keep strong conviction during times like this. Do you maintain conviction through focusing on the long-term growth of Bitcoin? Sticking to a strict DCA plan? Simply ignoring short term price action?

Keep your faith in Bitcoin. For example, to build faith, you can read good news about Bitcoin and or be a regular in this forum. Because Bitcoin is always discussed in this forum. If you read everyone's comments carefully, you will definitely be able to build faith in Bitcoin. From the past to now, Bitcoin has been very successful in the long term, and it is expected that in the future, we will see such success in long-term investments.

[AakZaki]

If the price is drop, you have a chance to buy at a low, you might not see that happens in the future and if you already allocate money running DCA, you should continue no matter if the price still goes down.

Strange to hear, when some people seek profit, you actually think the opposite. Say continue to do that useless DCA and hold back the floting loss.
It's ridiculous, what is the point of working to earn money if it is ultimately made to lose its value.

The current Strategy Company should be a reflection, that DCA is not always right to do.
The Strategy Company has been accumulating its Bitcoin for almost 6 years (According to the data on Site), until recently its average price is back to the current realtime price. that means for 6 years the Strategy has almost no profit at all.

Even if the price of Bitcoin continues to fall in the end, the Strategy will experience a floating loss.

[aoluain]

For me the chart is not the thing that breaks conviction. Its the silence after the drop. Chats go quiet, people who were loud stop posting, threads slow down. Honestly that part tests new holders harder than red candles do

Forget about charts, forget about daily market checks, dont listen or take seriously what others
are saying because we are all just speculating on what the market is doing.

Have a long term outlook and todays market becomes irrelevant

Understand the Bitcoin 4 year cycle and you will understand there will be Bear and Bull markets.

Treat Bear markets as prime opportunities to grab discounted Bitcoin and enjoy the Bull markets.

It all comes down to understanding and pshchology...and patience.