Is it advisable to buy the dip during a bearish cryptocurrency market - or I should exercise a little bit of patience?" is a statement that is trending globally at the moment.
The effect of the bear market made bitcoin and other altcoins decline in value, making it dicey to purchase at the present market value, thus making one retain a few coins at their reduced market prices, and then waiting until they rise in value once again. You might not be in the state of regrets if you buy the dip only if you selected the right coins.
Still, if you opt for the wrong altcoins, the dip might end up becoming a deep trough which you might find it a bit hard to recover.
When you buy the dip, you're aiming at a short-term strategy based on the timing of the market under a normal market condition. However, things are slightly different in the bearish market, as a result of the fact that the crypto market has experienced a continuous downward trend over time, with much likelihood of you waiting until the market becomes a bit stabilized, and turns bullish.
If your aim is to profit from altcoins apart from bitcoin, you would have to consider the current dip market, and guess what? That's exactly what you're about to learn in this book.
My adv ice is don't be too confident. A typical bear market, depending on the formula adopted for computation, can run from around 10 to 13 months. It could be risky to buy the dip, especially when you're not quite sure how long a bearish market can last. The longest in the American history, based on one estimate, lasted over five (5) years.
You cannot give an accurate prediction of how long the bear market can last, thus if you strictly follow the guidelines in this book, you can still make profits even in the situation of the dip, but remember: If you don't carefully select your altcoins, it could be frustrating to buy the dip under the current downtrend market.