Hello steemit community!
After all this news and the market "crash" or correction we saw many people panic on their investments, people that invest in the worst day possible and see their balance decreases each minute, and almost every single one get caught by their emotions and they start panic selling causing the price goes down and they lose alot of % of their investment and worst of all they get fear to invest again because of the first experience.
I think almost everyone that invest money need to think that the money they investing is money they would mind to lose, this is the best mindset you can have, you don't want to get too much attach to the money because you will freak out and make decisions and they "dig the hole" instead for let it fill by itself.
This recent china bans we saw a crash in the market because of FUD (Fear, uncertainty and doubt) because every see tweets and news with rumours and they don't know what to do.... What happened when the rumours become real news? the market went up, why? Because people lose FUD, they now know that china is closing exchanges to regulate them, people don't like uncertainty.
Here is some tips i learned for the new and old investors
- Don't use portfolios, you will get paranoid refreshing every minute and see the balance going down each refresh
- You need to start seeing bitcoin as bitcoin and not fiat (dollars, euros, whatever), 1 bitcoin is 1 bitcoin not some dollars, think like this, if you have 1 bitcoin and it lose value you still have 1 bitcoin
- Think long term!, bitcoin will not going anywhere, it has up and downs, it's normal but you have to understand that we still in the early stages and we are very blessed to be in it
- Don't get "brainwashed" or influeced by the media or even tweets, make your plans and strategy and stick with it
- If you have a big rise on your investment, take some % of the profits, you will be happy to assure some money or even acumulate or invest in other coins
- Patience is key, everyone loves a quick profit but that will chase you everyday and you will get paranoid
I think this tips is more for long/medium term investors, because only the experienced and no emotional ones can make money day trading.
I know is easy to say hard to do but this tips help you avoid some emotions and the investment will be better and will not give you headaches.
So don't worry, bitcoin will go to the moon
So what you think? What advices you have? What you learned in this market?
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