Quick tips for Bitcoin & Crypto during the bear market.

[HoneyBoo]

For all of you reading and looking for exposure to Bitcoin (or crypto) during the bear market and are't traders, here some tips :

• Self-custody : Always keep control over your coins, do not leave any assets on any exchange regardless of the reputation, jurisdiction and licenses the exchange/wallet holds.
• Bitcoin only : In bear markets, most tokens and shitcoins will vanish, it's like a cycle of life, new tokens will popup during the next bull market but Bitcoin will outperform them all like it always did.
• DCA : Don't put all your cash in single market buy, if you have $10k to invest in BTC, it may sound smart to buy everything at $20k/btc (it actually could very well be), but you can't predict the market, so a Dollar-cost averaging proved itself as a solid strategy, it requires patience and discipline, you will have to learn as an investor.
• No Yield : Don't lend your money, don't get lured by interest rates or promises of riches, anything you don't hold is at risk of being lost/hacked/miss-used.

Rules are simple anyone can understand and follow them, if you have questions, drop a reply.

 

[JohnnyDoe]

I would add follow an index investment strategy if you want to get exposure to the whole crypto market

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[HoneyBoo]

JohnnyDoe said:
I would add follow an index investment strategy if you want to get exposure to the whole crypto market
Click to expand...

A bunch of platforms, including Coinbase and Gemini tried that, a basket of coins to invest in and get exposure to the whole crypto market, an attempt to replicate the S&P500.

Turned out having a basket of BTC & Shitcoins was a bad idea and underperformed as basket of just BTC.

Unless one is an active trader, know how to long and short, when to enter and exit a position, keeping it simple is the best strategy.

 

[JohnnyDoe]

menzu said:
A bunch of platforms, including Coinbase and Gemini tried that, a basket of coins to invest in and get exposure to the whole crypto market, an attempt to replicate the S&P500.

Turned out having a basket of BTC & Shitcoins was a bad idea and underperformed as basket of just BTC.

Unless one is an active trader, know how to long and short, when to enter and exit a position, keeping it simple is the best strategy.
Click to expand...

The purpose of index investing is not absolute performance.

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