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The fluctuation in cryptocurrency has become a hot topic for debate among the investor community

Discussion in 'General Discussion' started by Jaken Black, Jan 22, 2018.

  1. Jaken Black

    Jaken Black Beginner

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    ★ Firstly, it should be noted that the price drop has adversely affected the holders. The investors selling their own coins sparked a wave of panic selling. It makes the market even more uncontrollable and chaotic.

    [​IMG]♦️ During red days, wise holders will try to keep coins in their wallet, waiting for the suitable moment to sell high. The problem is that whether you can make a wise decision at the right time or not. Once you have placed great trust in the project and mentally prepared, you will own the key to the “treasure”.

    Don’t let the crowd psychology affect your investment.
    Be the wisest investor during this tough time.
     
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  2. xyzzy

    xyzzy Master of None Staff Member Super Admin

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    This is good advice. Giving in to FUD and FOMO is exactly how the markets get manipulated and chaotic to those outside the "inner circles".

    The first rule, of course, is to not invest money you are not willing to lose. This will make it easier to not be emotionally affected when you see red, so you can hold strong until it is green again (assuming it's a good coin and not a shill/scam).

    I admit to making many trading mistakes. I can be very impatient, so I have entered on multiple dips too early, enough that my investment is red for months. However, since it is non-essential funds, I just wait it out. I have yet to sell anything at a loss.
     
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  3. CryptoRyuzaki

    CryptoRyuzaki Scholar

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    Excellent advice - Never, I mean NEVER ever invest money which you can't afford to lose. I had invested only a small amount in crypto and it reduced by around 30% and I was able to wait it out. But, if I had invested a larger amount, I would have been very agitated!
     
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  4. bitcoinbloggerclub

    bitcoinbloggerclub Beginner

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    In the end trading crypto isn't that much different then lets say any other commodity, there will always be times where FUD and FOMO will kick in, but in order to come out on top you have to be the more collected investor/trader :)
     
  5. crypto stocks

    crypto stocks Contributor

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    I agree 100%. Hopefully the right people are seeing this and we are not just preaching to the choir
     

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