Quote from: wxa7115 on Today at 09:24:22 PM

Quote from: sklopan on Today at 05:59:15 PM

Quote from: TheUltraElite on Today at 04:06:04 PM

Usually we run out of money to buy any more during a prolonged bear market. This ends up having a bad effect of the traders. The solution is to stop trading for a while and just observe the market for the return of the bull market. Spare cash remains spare only for a short period. Grin

Currently the prices seem to be inching towards 32k which means the bulls are returning to buy or some big players have bought bitcoin. I am expecting a bigger dip to happen in case some other player sells at this point or the trend to continue. So this might end up being the fresh start from this bear cycle.

Cost averaging is good, but buying at every dip should be done with caution so as to not end up spending too much. Lower than normal prices may arrive, but you have to patient.

To be honest, such a decision is made extremely rarely, alas. Often traders think that in such a case the best solution is to work even harder. Well, the outcome is quite easy to predict.

What happens is a lot of people see themselves as doers, so when they face a problem they immediately think of what to do in order to solve it, forgetting there are circumstances in which the very best thing you can do is to do absolutely nothing.

It may seem counter-intuitive to some but it is the truth, and the bear markets are the perfect example of this, many traders keep trading their coins back and forth in an attempt to make some money even during a downtrend, and as you may guess they lose a lot of money when they do that, however if they had chosen to simply stay away from the market and wait they would had a better performance by doing absolutely nothing.

maybe some have urgent financial needs, hence, they are trying to make something out of the situation. however, as you said, some may really incur losses instead of gains. if you are not in a hurry to get back your funds, it is indeed better to wait once the market recovers. because you will only be stressed by trading back and forth, and most of the time, you will only gain headache rather than profits.