What do you mean "Buy NOW"? We still have room to dump

Not sure what people are on about with their "Buy buy buy" posts. I mean, I haven't seen a suicide hotline posts stickied in months now. Some people argue that the fear and greed index (currently at 10) is the right way to go, and normally I agree, but I don't think this is a normal situation.

History shows us (as far as BTC is concerned), bear market bring a 80% dump to BTC. Sure, sure, now we have a lot of institutional investors involved, who won't allow BTC to go down THAT much. And we're currently 50ish% down from BTC ATH. I was also under the impression that "this time it's different" and that BTC drops of around 80% are not as likely. But this is the first time BTC is around in a situation where we have a major global recession. Which is just now starting to show it's ugly teeth. So if you're thinking this is the bottom, you have another thing coming.

Don't make the mistake in thinking things will get easier over the next few weeks. It is highly likely that people will lose jobs. People will lose homes. We are still in a completely unregulated market. BTC and crypto will dump a lot more from this point.

If you have a DCA strategy (and available FIAT now), sure, continue to buy weekly/monthly. Nothing wrong with this strategy. It is historically proven this is the best strategy which minimizes risk and general emotional connection with how your portfolio is doing on a daily basis.

But I'm waiting. I have my buy orders set at $22k (around 65% down from ATH) and all the way down to $11k (a bit over 80% down). Once it hits those levels I'll continue to DCA, and after a month or two, start to buy alts (solid projects, no shitcoins), also DCA.

I am not making the same mistakes I did the last bear cycle.