A sea of red is the best time to sail
I, for one, love the bear market. There is a saying that goes: The bull market makes you money. The bear market makes you rich. I first heard that from Benjamin Cowen.
From @coingecko, you could see the market has been plunging. Does it remind you of 2018? Perhaps the "extended cycle" argument doesn't hold water this time. I was disappointed that we didn't have the blow-off top like many anticipated in 2021.
Fortunately, I still managed to liquidate 80% of my shitcoins and got most of the capital I have invested over the last four years back. That includes not only money I put into crypto, but also stocks, precious metals, etc.
Now, my biggest positions in crypto are ADA, VET, CET, and HIVE. Of course, I've already started accumulating projects I feel are golden. They are SOL, LUNA, FTT, AVAX, MANA, and GALA. I also have a contingent DOGE buy in case it goes below $0.05. You know that meme is gonna pump again. Finally, one can never forget the regular BTC purchases.
You might think to yourself, that's too diversified! It is, but it is the strategy I'm going for. The biggest weakness in my approach is not building a bigger cash position for opportune buys. However, it's important to remember that no one can predict the future. How many of you managed to pick up 100x gains in ADA, LUNA, SOL, etc. this past cycle?
While I won't dismiss the possibility of a different cycle playing out this time around, I won't pretend it's still bull season. For me, it's safer to DCA slowly as the market drops and then goes in with the dried powder I've saved up for the occasion. This is not financial advice, but we all need a strategy for accumulating and building during a downtrend.
Buckle up and tighten your belts! It's gonna be another wild ride. Don't sell at the bottom.
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BEER.I absolutely agree about it being very similar to 2018 with the staggered, downwards trend. I just wonder how low it will go.
Time to stash and see.
Probably not the 2018 lows, but I do expect another 90%+ drop for alts from their ATH.
A lot of them lost like 70% already.
Experiencing inflation and deflation of price isn't a new thing but a win-win scenario in achieving more profits.
In theory, yes.
I have been feeling it is the bear for the last few months. It is definitely a time to accumulate and not sell at the lows!
Indeed! The next peak is gonna be lit.
It's going to be hard to tell where the bottom is so I definitely agree that DCA is the way to go. You can always try to build a stronger cash position next time when the tokens are mooning.
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I do have a cash position right now, but it's not as big as I wanted.
that's what she said :))))
I agree with you 100%. I'm doing crazy kamikaze buys with Luna at the moment.
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I'm trying to see how low I can catch it. Some of my friends managed to catch the $1.10 Luna this morning.
Oh yeah? Nice. I'm pretty much all out, some UST left but you know, lost its value.. Still bought some cLUNA when there is a big gap between it and LUNA
Btw, here's a recent post about my Luna "adventure" if you are interested.
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BEERKING.What you think about Luna it might be a chance to buy
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It's a chance to take a risk with no guarantees.
yeah I don't know I just bought 40 at 1.3$ money I couldlose
Remember kids, best time to sail, not sell.
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Know the difference. It could save lives!
Don't sell at all. The market will rebound and grow for one's old investments. Its time to start accumulating and positioning ones self with the experience gained in the passed. We can wait for it to fall a little more blow so,e powder at it and get even more. Its only going to get better
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As long as you aren’t spending money you don’t have, of course.
Think if btc has to drop to $1, what other coins will look like 0.0000000001
This bear is powerful and hungry.
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