So I was pretty dumb and shilled a ton of money into btc,eth,avax,sol during the crypto bull run - Since then I’ve dca’d very small amounts into each, but i’m down badly on cost basis (over 50% down). Any recommendations on how to handle this? Do I hold and dca? Should I just sell at a loss?

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Congrats on only being down 50%!

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I’m down 66%

DCA with BTC and ETH. Future you will thank you.

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Don't dca eth right now or any alts. Macro is terrible. Eth to $600. Wait for confirmed accumulation phase. Don't fight the fed.

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Hold and stack cash

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Don't sell, just pretend it doesn't exist and DCA. Live below your means

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Stop DCA’ing.

DCA’iNg is what financial advisors tell people to do in order to get more AUM and more fees. Do you really believe we’ll get back to ATH’s on a risk adjusted basis?

I ❤️ my USD’s that I’ve been in since March.

likefunny

Looking at the technicals… I see the next support for BTC at 13.7K - If that doesn’t hold, we see 10K, which has a lot of buying pressure volume waiting

As for ETH, looking like 1K support from the June low support (weak support), if this doesn’t hold its looking like 800ish… if that fails… 400-500 range

I will begin DCA-ing sub 15K personally

If you never sell, you never take a loss… I’d suggest DCA-ing into only BTC/ADA/ETH, I exited my Solana position a long time ago and will never re-enter - I’m sticking to ADA, BTC, LINK, and ATOM personally NFA

likesmart

Solana is a protocol propped up by VC funding and is extremely centralized for that matter

Flimsy development, which has been deemed the protocol that embraces the “build fast and break things” culture

Any network that is responsible for facilitating transactions and storing billions of funds every day shouldn’t be negligent in their development, and certainly shouldn’t have any down time

DYOR - I’ve had this same conversation with LUNA investors, unfortunate seeing people fall for the gimmicks of VC backed projects… when things go south they will get their $$$, while the average investor will ride the project to 0

DCA isn’t a bad strategy. Small buys over a long time frame will pay off eventually. It’s discouraging to lose what you put in every week, so make it automatic and don’t watch your balance. If I was throwing $50-$100 a week at Bitcoin right now on a 2-4 year timeline. I’d probably get 600-800% returns. No one knows if bottom is 12k or 1k. We generally believe it will go above 20k again and we aren’t buying top of the market.

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HODLLLLLL

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If you sell now, you are only capitulating.

Prices will most likely go further down, but nobody ever made money in a bull by selling in the bear

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Makes sense - I was thinking about things like tax-loss harvesting on avax and sol (reduce taxes on my income, offset any other capital gains). Can see btc and eth being a long term play, but just can’t understand what the future of these other L1’s will look like.

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Ah yes…..welcome to the market. I think you are better than most of my equity positions y/y.

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One strategy that has been working for me is playing the trend. Our constant is we’re in a bear market. Opening shorts with leverage is risky. One rogue candle will get you liquidated. Stop loss always triggers, so that doesn’t really work with crypto. What we can bet on is an overall downward trend, so open small trades when you see coins running up 30-100% in a short time they will come down eventually. So I buy a 3x short token on KuCoin. KuCoin will leave your residency unverified indefinitely with limited withdrawals under 1BTC. Platform is okay. So you can buy the 3x short tokens 3-6k per trade, one at a time. Then I wait. Eventually it breaks down 20-30% because it’s 3x I make 60-90% profits rinse and repeat. I don’t bet more so I don’t get wiped out on one bad trade. I take 2-3k in profit and wait for the next setup. It’s not profits like a bull market, but at least I’m not losing money. Bet the trend. It’s not a mutual fund. Bitcoin can go back to 5k. There will be signs when we reach bottom. Money supply will be on the rise. Interest rates will stop heading up. Large bankruptcies will be behind us, not in front of us. Real estate market will come back in line with historical norms. 2023 is going to be painful.

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Don’t DCA now!! Start DCA after trend reversal and during bull market!

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Just enjoy the slow ride into oblivion.

helpful

Nice, I’m 69% down

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