Let’s change our mindset and consider how we should operate next—should we buy or sell?

If Bitcoin enters a bear market from here and keeps dropping, the next move should be to hedge with a low-leverage short, then buy Bitcoin spot or some quality coins with real applications after a big drop. In a bear market, accumulate coins—the more it drops, the more you buy.

What if, from the current $90,000, it pumps to $102,000 or $108,000? What should we do? If we sell, we’re afraid it’ll keep surging; if we don’t sell, we fear it’ll drop back down, or even deeper. What’s worse is if it wicks up and down around $100,000, liquidates contracts, then either drops into a bear market or starts a long bull run.

How can we avoid getting rekt? First, you should be confident that Bitcoin will enter another bull market in the future, whether it’s a long bull or the four-year cycle stays intact, and Bitcoin will surpass $126,000 again.

I think everyone knows the best strategy is to buy more as it drops and dollar-cost average into Bitcoin. But when Bitcoin falls fast, it’s hard to resist the urge to sell first and try to buy the dip, only to find you sold at the bottom. Whether it’s a major pump or dump, the main factor affecting everyone’s trading is psychology. When it pumps, you’re afraid of missing out and chase the top. When it dumps, you’re afraid it’ll fall even more and you cut your losses and get left behind. The more you trade, the fewer coins you end up with.

Although I’m not as successful as the old OGs, as a veteran since 2013, by controlling my emotions, trading less, and holding Bitcoin long-term, while using a small portion of funds for trades to counteract the urge to chase pumps and dumps, I have managed to accumulate assets ordinary people can’t imagine. My goal is to accumulate more Bitcoin. Over 90% of my funds are held in Bitcoin long-term. The remaining 10% I use for psychological hedging—whether that’s trading Ethereum, doing T, or trading altcoins. As long as I profit with that 10%, I reinvest the profits into Bitcoin. I don’t measure value by current price—I use $1 million as my unit. Every time I earn 0.1 BTC, that’s $100,000 to me. If I make money with this 10%, I consider it as successfully accumulating more Bitcoin; if I lose, I’m glad I didn’t put all my funds in.

The most important thing is to establish your own trading logic and strictly follow it. If your initial logic changes during trading because of poor mindset, you’ll eventually find that your original logic was the most correct—because it was well thought out, not made in the heat of the moment out of emotion.