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RE: Bitcoin (BTC) The Bears Are Here Until the Big Money Arrives?
This could be true, if so it's the best news we could possibly have! If it's going below $4,000 then most of the losses are already priced in, and if this turns out to be an extended bear market then it will give us all time to accumulate large positions at the bottom, before the next bubble.
This is a once in a lifetime opportunity.
That is the right attitude. Yes everyone that hasnt pumped all there money in, is enjoying the cheaper prices, but with alot ot amatuer traders in the market, anything can happen. Im far from pro but learning constantly, still make mistakes but the last few weeks has sorted out my portfolio, to the coins that I care about and those that im going to use to get more Bitcoin.
From being through a few of these crashes I've learnt that it's so much more painful being out of the market watching the coins you love go up 10x, 20x or more, than it is being in the market and watching your portfolio drop 70%, 80% or more, when you know it will eventually recover.
Personally I have a rule of only buying at the absolute bottom, at the tail end of a long correction. I never chase a coin, no matter what it is. Once it's gone up, I don't buy any more. That protects you from ever losing real money. Whatever gains you have are pure profit, even if a coin goes down a lot from the all time high.
It's the emotional aspect of investing that burns people, panic buying on the way up, and panic selling on the way down. Buy at the bottom and hold is the best strategy.
What coins are you planning on buying during this correction?