Take a look at the previous beer market. Which was at the start of 2017 towards 2020. Those individuals who kept on the Dollar costing average during this period of time are the ones who made significant gains. As the saying goes “bear markets are where money is made”. Over the span of three years if someone has invested $100 every month and multiplied that by 12 and then another 3 that gives us a total of $3600. Let’s assume this individual only bought bitcoin doing that period of time. And let’s say his average price was around $8000. He would have owned 0.45 bitcoin doing that bear market. This doesn’t even include the interest that one can make by lending out bitcoin. That $3600. is currently valued at $17,100.
That is some significant gains that are close to a 5X. this is just bitcoin imagine if this individual dollar-cost averaging two Ethereum or some other blue-chip crypto is that went parabolic this crypto cycle.
Time can be tough but buying during the bearish times is always the best time to buy. As the other saying goes “Buy in the fear sell in the greed.”.