During the previous bear market, I had the opportunity to invest in some valuable coins, but I decided not to purchase them out of fear. I don't want to lose my money. I was waiting for the market to get better because the market was in a downtrend. I was hoping the market would give me a sign that it was better now, and I could invest, but I was wrong.
I waited for the market to recover before investing, but unfortunately, the market was almost at its peak. At that time, BTC was around 40k, and there was a lot of hype on Twitter that it was going to reach 100K. So, I decided to start investing with the hope that by the time BTC hit 100K I could cash out because i invest some of my money in Ethereum and hive
At that point I was expecting btc to enter 100k because I invested late even though is not at the top it was very close to the top which was forcing me to hold and the hype on Twitter that btc will enter 100k was also backing me but when btc drop from 69k-40k I have almost lost all my profit and when people were making it big in the bull market I was forced to sell for little to no profit in the bull market.
Cut your loss
One of the major issues in the world of cryptocurrency is the predicament of buying at its peak. Even if you are aware that the coin is underperforming or the market is shifting towards a bearish trend, you may find yourself obligated to hold onto the asset. This can result in significant losses, with the total value of the asset dropping by as much as 75% or 80%.
To make profits in a bear market, it's crucial to act quickly and strategically. Identifying a strong investment opportunity early on and putting in additional funds can be a wise move. Continuously building on our investments during the decline can help ensure that we're in a good position when the market eventually rebounds. Waiting too long to invest or buying at the peak can lead to poor decisions and lower returns.
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Thanks for your time.