This thing keeps me sane in the bear market.

Straight to it: UPDATE YOUR AVERAGE BUY PRICE.

Explanation

There has been a lot of talk about dollar-cost averaging. Even though that is a pretty good strategy, it sometimes completely fails in the time of a recession. These are not my words — but the words of BlackRock. You know, the largest investing fund.

Anyhow.

What I do is I always have some spare cash available in USDT or USDC and look for the cheapest price I have ever seen for my selected cryptocurrencies. New low, new buy, and I recalculate my average buy price.

For example, I always buy new daily lows of BTC for around 20 dollars. It happens perhaps once a week that I manage to buy so low, that I have never bought it cheaper in my life.

Now, BTC is not the only one… I do the same with MATIC, SOL, CELR, PENDLE and 2 other very dodgy cryptocurrencies that I do for fun (I won’t mention names, because well, even I don’t believe they will survive the bear market).

What about you — how do you buy your coins? All-in?

Psychology

It is crazy. I am losing money left and right. I would say a majority of my “crypto-friends” have given up, but I am still here, investing regularly. Call me crazy, but sometimes I feel so myself. But whenever I put in the numbers and I can see every week how my average buy price is lower than the week before, it makes me calm.

I strongly suggest you do it too.

Nostradamus said that 2023 will bring the Antichrist to Earth (whatever that means). It looks like 2023 won’t be much nicer to crypto holders than 2022. But remember, crypto is the next big thing. I will die believing that.

Just keep your head up and buy (responsibly).