First of all, blah blah blah, don't invest more than you can afford to lose. Second of all, if you're investing in projects you don't actually believe in, I can't help you at all. You probably deserve to be rekt.
But if you are in it for the long term, and your portfolio is way down, like many of us, you can actually, kinda, sorta make money in the future by utilizing the bear market. By throwing bad money after good, so to speak.
Wait, what?
Yeah, it's not really for everyone. If you're assed out, and can no longer afford to invest in cryptocurrency, you're fucked. Hold and wait. Or sell at a loss, I guess, if you're a dumb ass. You might as well just quit reading now.
Personally, I will go to zero if I have to. But I believe in the power of Bitcoin, and cryptocurrency in general. Then again, if you don't, why would you be investing?
But here's a good example of how cost averaging can reduce your overall investment per coin, lowering your breakeven price, and increasing your potential profit when things turn around.
ASSUMING THEY DO. I'm entirely confident they will, of course. Your mileage may vary. Even my sister is hanging on to her little Litecoin purchase, and is probably $80 per coin in the hole.
I got on the Dragonchain train way too late. I have lost my ass, thus far. But, by continuing to buy as the price dipped (plunged), I have reduced my cost per coin greatly. If and when things pick back up again (cough this fall cough), I will be pretty well positioned.
So, yeah... I bought in at $.97, which seemed like a decent buy. I didn't expect the ass to fall out of the BTC market yet again. But I should expect it. Anything is possible, and this has been the trend for six months.
DRGN/USD Buy 56.00000000 0.97000000 $0.9700 May 6, 2018 12:00 AM $54.32
But, hey, it dropped 40%, so I doubled down. Well, I 2/3rded down.
DRGN/USD Buy 161.00000000 0.60000000 $0.6000 May 31, 2018 6:00 PM $96.60
What the shit? It dropped another 30%? Fuck my life, I guess I'll buy some more.
DRGN/USD Buy 100.00000000 0.38000000 $0.3800 April 18 2018 10:00AM $38.00
Great. Now I have $188 worth of a possible dog of a coin. (Meh, probably not. It's a platform, and isn't really even on a lot of exchanges yet. Plus, cute dragon icon. That counts for a lot.) Better yet, I'm down $62, or a loss of 32%.
But my average cost is now $.60 per Dragonshare.
It's like fucking magic. Just throw more money at a problem.
However, if and when it goes to even my original buy-in price, I'll be up 30%. And, if I pussy out, anything beyond $.60 is a breakeven point. Not too fucking shabby. If I hadn't averaged down, I'd have to wait until $1.00 just to break even. Not a very enticing position to be in.
The drawbacks are obvious. I've lost money on Dragonchain three times, thus far. It's now at fucking $.40, and I'm tempted to get more. But, no, I'm happy with my targets, and what the future seems to hold. Maybe next week. I'm not feeling quite that confident about this particular project at this moment.
Whatever. It seemed like a good idea at the time.
I recommend https://www.LiveCoinWatch.com for portfolio tracking, but mostly because I hate CoinMarketCap. Currently, it only supports fiat prices, but the developer I talk to frequently on Twitter promises BTC valuations soon.
(BTW, if you want to roll the dice on DRGN (https://en.wikipedia.org/wiki/Dragonchain), it's available on Kucoin - https://www.kucoin.com/#/?r=RhRuxe. You'd be getting in at a far better price than I did, anyway.)