... is panic.
Everytime there is a drop in the market, either bitcoin or altcoins, people panic. Why did the market drop?, i see this question asked on various groups I am. Or I see headlines, written in a very catchy way "The markets are dropping, time to buy and to the moon".
I mean, for real people, stop going on how the wind is blowing. This is how you lose money.
Make analysis, look at the graphics, research. And most importantly, think. Don't just go with the flow.
I'm not the most proficient trader, but I take my time before I place a bid. And even though I use signals from discord groups or twitter users, I still make my own decision. Be responsabile, because it's your money.
Most importantly, invest only the money you can afford to lose. Because if you don't do that, you'll have anxiety attacks every time the market drops. And you'll be too excited when the market is on the rise. Last week I've made trades valued at over 500$ in Bitcoin and, strangely, I'm quite ok with that. Yeah, I wouldn't like to lose them, but if it happens, it happens.
Also, another tip. In cryptocurrency, you can't really lose money if you don't sell out in fear. If you wait, you can make your money back. The question is how much it will take before that will happen.
Be careful out there, the market is a dangerous place. The cryptocurrency one is a deep sea with a lot of storms and sharp cliffs. Don't drown yourself.
Thank you for reading. If you liked the post, give it an upvote. Give me a comment with you opinion on the subject, I would love to hear it.
Image source:Pixabay