If you're a cryptocurrency investor, the best thing you can do during a market downturn is to hodl on to your coins and weather the storm. The crypto markets are notoriously volatile, and prices can swing wildly up and down in both directions. While it's tempting to sell off your holdings when the prices are falling, doing so will only lock in your losses. By holding on to your coins, you give yourself a chance to recover your losses when the market eventually turns around.
Use dollar-cost averaging to build your position.
Another way to protect your investment during a market downturn is to use dollar-cost averaging (DCA) to build up your position. DCA is an investing strategy whereby you spread out your purchases of an asset over time, rather than buying all at once. This helps to average out the price you pay for the asset, and reduces the risk of buying in at the top of the market.
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