With all of the stuff occurring on the minute, I’ve slowed down my DCA. Am I loopy? Crypto is on sale proper now and I’m getting chilly toes. I’ve been round a very long time and been via a whole lot of storms however this one feels a little bit completely different. I’m not saying that is the tip – I consider we’ll be again stronger than ever – however once we’ve had points earlier than like Mt Gox, it was just about simply us right here.
However right this moment it’s us, plus a ton of establishments investing in crypto. They’ve introduced in cash that the typical person simply doesn’t have entry to. In the event that they go, we’re in for an extended haul again.
Too many individuals have damaged the basics…. Not your keys, not your cash. We are able to keep away from 99% of this bullshit by preserving our cash protected on our personal units. We have to get again to the roots of chilly storage, writing down and storing our keys / seeds in a protected place after which waiting for the most recent traits and making sensible strikes.
I would like some hopium so I can get again to my DCA strat and keep it up. Im going to begin by going extra BTC and ETH as a proportion. Normally I exploit this to steadiness out my small cap cash however now I feel it’s a safer play with nonetheless wonderful potential. I do love the tech, I do love the talents for transparency, sensible contracts and world attain, however we have now an extended solution to go.
Hook me up with some hopium.
Wealth is build in bear markets. We cried for this prices some time ago. I am not missing this.
Hopium: it might not all burn down. Hope that helps.
Only buy bitcoin…
Use this time of caution to understand the logic behind it. Then decide if you agree.
https://armantheparman.com/why-bitcoin-only/
I’ve been DCA-ing since May 2017, through every pump and dump, and this crash hurts, but the dedication has me insulated from this mess rn. Just stay the course- this is a long, ocean-crossing voyage
The very concept of DCA is to take out the emotion in investing – you buy your crypto on a regular schedule regardless of the price. If you slow it down because youre scared, youre letting your emotion take over. Get some rest from the charts and the news and clear your head. Too much bad news may be getting to you OP.
If you only DCA when the market is green you’re doing it wrong
The best time to buy crypto is when you feel exactly how you feel now.
Max pain = max opportunity
I tripled my weekly dca amount now because my bonus is coming. Year end baby
You don’t need hopium, what you need right now is basic knowledge about the coins that you are holding and your financial plan.
Everyone has their own reason for holding something, we are sharing different plans, ideas, and living experiences. You don’t ask strangers for advice. That’s the most stupid thing to do.
For instance, “just hodl, DCA and everything will be okay”. A Bitcoin veteran will know what to do. But, a younger investor with 0 experience can’t follow this idea because he won’t understand the idea behind that saying. He can read the chart but he doesn’t have the experience to keep hodling. Just another drop and he will jump out of the ship.
I can totally understand how you feel, because many people must feel as you at the moment, including me. The markets are heavily influenced by emotions, which only the most experienced and cold blooded people can withstand.
What you must not forget though is, that they also know and say, that times like these are the best buying opportunities for investors, with those low prices. Because at this point the inexperienced people, and people acting too emotional, have sold at a loss, lost faith in crypto and left the market. Same procedure as every cycle before.
I am convinced, that crypto is here to stay. It’s just some influential shady people in the business screwing it up for everyone. That’s why we need more regulation and consequences for those people in the future. Hodl is the key.
Interestingly, how does everyone automate their DCA now with all the exchanges on the brink?
Crypto or how to throw good money after bad.
Hopium: https://nitter.net/elonmusk/status/1592043719645356034#m
Hopium is:
All the clever ones got out before November 21.
The ones that are left have a party where you all wear hats with a big L written on them.
Bonus of it all is that you get a free party.
I mean I don’t think you’re entirely crazy, stuff is pretty rough right now so maybe it’s not the worst idea to decrease your allocation a bit but continue dca’ing as you have been, just know that the money is probably gone for a while so don’t invest any money that you will be needing in the next couple of years
Every dollar you invest now will be worth 5x in the future. Time and time again, bear markets have proven that crypto is not dead and it is valued for the technology behind it. So just ensure you have emergency savings, then go all in on accumulating
>I’ve slowed down my DCA. Am I crazy?
You’re not crazy, you just don’t stick to the plan. It’s not DCA when you’re investing based on emotions.
Be careful for what you wish for ,we all wanted discounts, but we’ve failed too realize how we would cope with are own wallets being cut in half or more.By now alot of us are completely dead too the chaos that’s going on in the system.Have faith and give it some time,But definitely regain ownership of your investments.
Seems a wake up call for defi- that it’s not defi with custodians for stables and wrapped btc. But it just highlights the case for Bitcoin imo.
But I thought quadriga, Celsius, and Bitgrail would teach people to hold their own keys but here we are, so defi learning from this is unlikely.
That’s not how you DCA. You gotta keep at it even when that market is down.
It’s fine to dca still as long as its with money you don’t need to pay bills or need back anytime soon.
If it all goes to zero would it affect your life and mental health?
If the answer is YES you probably already have too much in already.
You need a long term time horizon and the mental strength to stay the course and not panic sell.
It’s all about common sense.
If you want to alter your strategy from DCA to “I DCA unless I feel bad about the current situation” then backtest it, and you don’t get to include gains from the bottom of 2018. Or any large move down you would have panicked at the time over. See which strategy is best.
I don’t DCA. I think for cryptocurrency it’s a lower probability strategy than others available. But your strategy is your strategy.
You HAVE to stick with it.
Intervening manually in a strategy is almost always a bad idea.
This is a common problem for traders, the psychological part of executing in equities and futures. In crypto it’s confused by nonsense like “hopium” and “FUD”, ignore those ideas. Create a plan, decide a timeframe you will run it for and execute it. No excuses.
I like to do caveman DCA
Crypto go up. *shrug* DCA
Crypto go down. *shrug* DCA
Wait many moon, buy big cave.
That’s because it’s low, you should be selling
You can check my comments. I’ve been getting down voted for almost a year now for telling people not to dca. Ill repeat. DONT DCA.
Corona
Chip Crisis
Ukraine War
Inflation
NOW FTX
There is not a single bullish signal. I’ve been telling people… you’re just throwing money out the window.
“YoU DoN’t KnOw WhErE tHe BoTtOm Is” Yes I don’t but I know we’re not entering a bullmarket anytime soon.
Capitulation. When faced eye to eye with doubt and apprehension, you know we’re reaching the bottom. Invest by your own values, but this is a normal feeling.
This is a good opportunity to bring your cost basis down.
I feel what is happening is like the 2000 dot-com bubble. It’s scary…. I know, I lived through that. But in all honesty, what has been happening in crypto this year is a necessary evil to clean up all the bad acting that has been unknowingly and knowingly known. This is a really good thing.
I do think that centralized exchange regulation is absolutely necessary. Now that the bad actors and their rotten lobbyists are starting to get cleaned out, this my actually start to happen. Note, I state regulation for ‘centralized’ crypto businesses.
Think about what’s been happening… It’s crooks and inexperienced individuals implementation of centralized models using a decentralized framework. Smoke and mirrors. Creative solutioning to make a small group an enormous amount of wealth in the name of ‘the community’. So what’s the problem in my opinion?
1. Crypto CEXs have been working to create a ‘centralized’ one stop shop (invisibility keeping some users hostage on their platform by offering unsustainable incentives),
2. CEXs have been making bad ‘investment bets’ for their benefit with users hostaged assets and lacking transparency that this was/is happening, and
3. CEXs that have declared that there are backing reserves and those reserves based on other cryptocurrencies – much of which are platform created or shit coins, meaning GARBAGE.
When investing your in crypto, think ”blockchain technology and use cases”. If neither exist, stay away. If you invest, move your assets to your own self custodial wallet (at least until there is ‘centralized’ regulation in place).
This is just my personal humble opinion. Take it or leave it.
Good luck out there!! This too shall pass and make us stronger… ????
I’m starting to feel a little bit of what you mean and so I started scaling in harder, but that’s me.
What you do is entirely up to you and your risk management, don’t let anyone tell you that you’re doing it wrong. Unless you’re usually only happy buying in green, then you’re definitely doing it wrong.