(Part 2)-Tips On How to Survive the Bear Market
Hey guys, its another day to learn more on surviving the bear market, I've got more tips for you:
DON'T TRY TO CATCH THE BOTTOM: Nobody can accurately predict the bottom.No matter how good you are. One could study technical & fundamental analysis all they want or listen to experts, but at the end of the day, they may still have to rely on their gut feeling while trying to time the bottom.
DOLLAR COST AVERAGE ( DCA): This is one of the best strategy that is proven to have worked exceedingly well even during the toughest of bear markets. It is a simple but long-term strategy where you continue buying small amounts of an asset over a period of time regardless of the price.
For example, as an investor, you would want to DCA $100 on bitcoin every week rather than investing $1000 at once or as the price of BTC gets lower. You may make changes to your DCA schedule from time to time to meet your changing requirements.