19.3 C
Los Angeles
Sunday, April 2, 2023
HomeCryptoHow Millionaires are made...

How Millionaires are made in Bear Market: | by Hamza Haseeb | Coinmonks | Aug, 2022

You must have heard people saying buy bitcoin at this price or DCA your bags. But what does it actually means and how do we start accumulating in Bear market? In this article I will share 2 techniques that will help you in your journey towards a million dollar.

First off when you’ve figured out that we are witnessing a crash Do Not Panic. Control your emotions and start rational thinking on how to handle the situation. If market capitulates and your portfolio goes in a massive drawdown, Then first thing you should do is to not Panic sell. Then do a bit of research and figure out whether the coin you are holding is worth risking more. If you’ve figured out that the coin has strong fundamentals and is likely to survive the bear market then start doing DCA. Accumulate the coin is parts and keep some of your funds in hand always for worst market scenario. Now you may ask, What is DCA?

Dollar Cost Average (DCA):
Dollar cost averaging is dividing your Funds and buying in intervals when the market is moving downwards or sideways. Make a percentage plan to divide your portfolio that when the market will for example dips 20% you will put in the first amount to DCA. This will average out your buying price and when the market recovers back to your original buying price. You will be in much better profits due to averaging out on every dip. Second method is SIP.

Systematic investment plan (SIP):
In this method you don’t really care about the price of the asset you want to accumulate. If you’re a person who’s on a regular job then this technique would suite you to make your bear market portfolio. Based on monthly basis whenever you receive funds. Invest a decided % from your paycheck in to the asset that you want to accumulate. This should be done in bear market when the price is continuously dropping or going sideways. Make a target that you want to hold x amount of coins for this x of time period be it few years or the next cycle.

SIP should be started when the price of the asset has fallen down atleast 50–80% from it’s previous ATH. Before starting to invest Do your research and get confident knowing them that the project’s fundamentals would survive and come back stronger in the next cycle. These are the two techniques that can be used in the bear market to yield the best returns for the next cycle.

Crypto assets That I am looking to Accumulate for the next bull season:
From now on regular basis, In my FREE telegram channel, I will be sharing projects that are worth accumulating in this bear market along with their fundamentals and technicals so that you don’t have to go through much trouble figuring out what’s worth it.

Note: Nothing posted here is to be taken as a financial advice. Always do your own research before deciding to invest.

Twitter @Itsdehamza
Telegram https://t.me/CryptoniumG

Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing

Source link

Most Popular


Please enter your comment!
Please enter your name here

More from Author

Attack On Titan’s Isayama Used MMA Fighters As Inspiration For The Titans

In a 2016 interview with Gong Kakutogi Magazine, Isayama spoke at length about the connection between etching manga panels and MMA, both art forms requiring a specific skill set to be mastered to best effect. MMA requires control strength and muscular coordination, while manga illustration requires...

A Come-From-Behind Triumph For Forte, Mage Places, Cyclone Mischief Shows

In an exciting and mature display of racing spirit, 1-5 favorite Forte rode deep under Irad Ortiz to pass Cyclone Mischief and Mage in the final sixteen minutes to take Saturday's Florida Derby. Forte couldn't say for sure that he is the best Kentucky Derby-bound colt...

Rosalía & Rauw Alejandro Discuss Romance & Careers

Rosalía and Rauw Alejandro open up about their iconic relationship! The duo is a powerhouse in the music industry, especially Latin music. While they often grab headlines for their thriving careers, the same is not true of their romance. The couple kept their romance out of the media, kept...

Super Mario Bros’ Chris Pratt Mocks Casting Controversy With Prank

He had the last laugh. Chris Pratt Since landing the role of Mario, he has been criticized and questioned super mario bros movieThe controversy inspired his April Fools' prank. "Proud to report that I will be the lead voice in the upcoming Disney Mickey Mouse adaptation! Get ready...

Austin Butler and Kaia Gerber Visit Children’s Hospital Together in Los Angeles

Austin Butler and Kaia Gerber visit Children's Hospital in Los Angeles | Entertainment Tonight ...

Andreessen Horowitz is now openly courting capital from Saudi Arabia, despite U.S. strains

Andreessen Horowitz is now openly dating from Saudi Arabia, despite his US concerns. According to Bloombergyesterday Marc Andreessen and Ben Horowitz appeared on stage with WeWork co-founder Adam Neumann to talk about again since November of their companies $350 million investment in Flow, which is Neumann's new resident...