2022-12-08 12:01:49
7 key mistakes in the last 5 years of the crypto market
Every year, crypto provides opportunities to earn, at the same time, many make mistakes and lose. Beginners have an advantage - the mistakes of old cryptans, which can be avoided. Let's talk about them today
2017: Do not fix profit
After the 800s on the altcoin, I did not take profits. Why? I wanted to get 1000x, and everyone around said that this token would make at least x2 more 100%.
2018: Don't get rid of dead coins
When you are planted in tokens and are in a strong drawdown, you start to pray and believe that everything will grow back. But, with 98% of altcoins, this does not happen. Sometimes it's better to fix a 50% loss and pay attention to more promising coins.
2019: Listening too much to the opinion of the crowd
When BTC traded around 6k for a long time in 2019, everyone said that it was a peak and only to bottom further. I sold bitcoins at $6k and bought back twice as much as a result.
2019: Loss of interest in the crypto market
In 2019, when everyone was in a drawdown of 97% of the portfolio, many left the market. But it was then that there were the best opportunities to enter the market: low prices, weak competition, huge potential for growth, no one is promoting the topic of making money on tiktok...
2020: Sloth
Laziness destroyed the potential of many kryptans. During the crypto winter, you can reduce the activity in the market, but compensate for this by learning new ideas, trends and skills.
And as soon as the movement begins in the market, you need to turn on to the fullest. Especially if the market is filled with free money, as in 2022.
2021: A binary approach to investing
In May 2021, I sold everything a few days before the 19/05 crash. And I thought that the peak had already been passed. But because of this, I missed the goby on GameFi projects, the L1-blockchain trend and the metaverses.
You don't have to be 0/100% in the market. Always choose the middle so that you can save assets and not be late for the trend. Investments of even 1% of the portfolio in an asset can double the portfolio
2022: Investing with a poor risk/reward ratio
The UST stablecoin offered a 19% return per year. The FTX exchange paid 8% per annum in dollars. As a result, everything ended with the bankruptcy of both companies.
Why risk 100% of funds with the expectation of earning only 6-20%? Look for opportunities with the prospect of earning 400% and the risk of losing only 100%.
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