While trying to learn the ins and outs of trading crypto on an exchange late last year , I found out that I was losing money left, right and centre with my supposed sensei as oblivious as I am. During one of those days i stayed up late trading, I took a short break to stretch my legs and whala!! a coin which I bought somedays back which was on the rise had take a serious nose dive and the had lost more than 50% of it's value in less than 5minute; there was my first lesson about crypto market volatility and the famous pumps and dumps. Here are a couple of things which I have learnt so far from cryptocurrencies and their markets.
Too many s***coins , all your investments can be wiped out by a pump and dump in less than a minute.
Only invest what you can afford to lose, as you meant to learn the ropes at the beginning.
Not everybody would make a truck load of money from investing or trading in cryptocurrency.
Always know when to get in or out of a rise or fall during a trading window.
There are alot of big investors (whales) who are waiting for coins to hit the major exchanges, so that they can dump them. ALWAYS KNOW YOU INVESTED IN A COIN.
In summary, always read before buy any coin and always be prepared for ups and downs in the market.