How do you maintain conviction during a bear market

[bhadz]

That is not easy in the beginning but those who also experienced bear market in the past, they're now applying what they've learned from that point and experience. And it is not to hurry to profit from this time because it's the moment for everyone to accumulate and when you don't do anything at all, it's okay. You don't have to fill something in as much as what you're thinking to for this bear market. Just know what you do, it's going to make you see what everyone does when things seems to be bad but you see outside the box for the long term.

[Perfectbaby]

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?

For season like this you should be focusing on holding for long term because you can't make profits from your investment during bear run, of course during bear run people are afraid to hold shitcoin on their possession because they knew that it doesn't take long to get dumped on the market, most people do sell of their bitcoin and altcoin to secure stable coin for themselves till they noticed that market has actually dropped a bit before you would see them holding back whatever coin they had in mind of holding. For, I will encourage to keep holding and accumulating gradually, and before you would knew it you may end up having a large fraction of bitcoin during your gradual accumulation.

[nara1892]

Maintaining confidence depends on your planning, depending on how mature the planning you have made, if for example the planning you have made is very mature in the sense that you have seen from various sides related to potential profits especially the worst risks that could occur along the journey then you should not be affected by the steep road that you suddenly find in the process, the decline should not be something that distracts you from planning, therefore mental and psychological must also be prepared as hard as possible, I see many investors who fail to accumulate because they are too afraid and their confidence is lost.

[passwordnow]

It won't make sense to look at the short term price actions when your main plan is to hold until the next bull run cycle. Which means to say that your plan is holding long term. While emotionally it can affect you and that can make you stressful. Bear and deal with it because that shall pass and you'll be able to make yourself more focused with the accumulation. You need to get used to this wavy market and the fluctuations that we're dealing everyday. And as they say, "when in doubt, zoom out!"

It sounds very funny, but indeed some people are starting to see this as an investment but want to trade.
If you have a long-term plan, it is true that you have to look broadly, that is the key to staying consistent, if you look too much at the short-term, it will make you more chaotic in the market and that is not a good thing, unless you want to trade like swing trading or daily trading, it is very natural to look at much shorter time frames because that is the tool.
As the saying goes, the storm will pass, and the bearish season is a natural selection for those who cannot bear the fluctuations.

That's right, this too shall pass and everyone who's looking at the bear market as a punishment. It's not, and you'll get to used to it by making some ideas and strategies that will be favorable to you. Like the accumulating part, this is really the best time to do it. And who knows if we're not going to see these prices anymore in the future. We knew it because we've been into it a couple of times.

[igebotz]

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?

Welcome to the Bitcoin world  and for your question, well I always remind myself that volatility is normal for Bitcoin and that every major cycle has had painful corrections along the way and also my main conviction comes from understanding why I invested in Bitcoin the first place - the real test comes when the price drops and the fear starts creeping in.

Focusing on a long term gain rather than the daily price movements also help me. Good luck to you.

[bangjoe]

It won't make sense to look at the short term price actions when your main plan is to hold until the next bull run cycle. Which means to say that your plan is holding long term. While emotionally it can affect you and that can make you stressful. Bear and deal with it because that shall pass and you'll be able to make yourself more focused with the accumulation. You need to get used to this wavy market and the fluctuations that we're dealing everyday. And as they say, "when in doubt, zoom out!"

It sounds very funny, but indeed some people are starting to see this as an investment but want to trade.
If you have a long-term plan, it is true that you have to look broadly, that is the key to staying consistent, if you look too much at the short-term, it will make you more chaotic in the market and that is not a good thing, unless you want to trade like swing trading or daily trading, it is very natural to look at much shorter time frames because that is the tool.
As the saying goes, the storm will pass, and the bearish season is a natural selection for those who cannot bear the fluctuations.

That's right, this too shall pass and everyone who's looking at the bear market as a punishment. It's not, and you'll get to used to it by making some ideas and strategies that will be favorable to you. Like the accumulating part, this is really the best time to do it. And who knows if we're not going to see these prices anymore in the future. We knew it because we've been into it a couple of times.

Now is indeed the best time to accumulate, if you want to learn seriously start from the beginning and learn slowly, for us we are very familiar with the market atmosphere like and surely we at some point will definitely buy bitcoin for accumulation.
Those who are just beginners should start looking at long-term opportunities about bitcoin and you are right that we may not see prices like now again in the future, because we have learned from a long time ago and I personally regret not doing that too by utilizing moments like very well.