Today we gonna talk about mistakes that new investor of cryptocurrency that made him lose the hard earned money in Bitcoin or altcoins. we heard from mainstream media news that people really sell their home just to invest in bitcoin and some of them lose the money because they been late to the game. so, what make them trying to risk everything in term of quick profit without considering the risk. here a few what i can share about.
A. Short term mindset
Having a short term mindset can make you make many mistakes that necessarily can be avoided such as selling profits fasts and NOT seeing the bigger picture of your investment. are you one of the people that buy bitcoin at $500 and quick selling it at $600 without considering the fact that the price might come to $1000 or even $10000. impatient is very bad habit when it comes to investment. you should always thinking of yearly long game and having a exit strategy that doesn't make you greedy.
B. Not enough research.
Researching your investment is the main thing you should do when it comes to investment, knowing the rumors and hype from media doesn't mean its a facts. when you have no idea about the investment you gonna make, you better not investing, invest in other thing you know. do not expect big result, it's a bonus. always thinking that capital preservation is more important than making quick result.
C. Over Investing
Over investing usually happens to those new investors that been making profits from their investment such as in bitcoin and trying to seek the "new" bitcoin and invest more which gonna make them having high stress, panic, depression and having debts. it is happen because they are having FOMO (fear of missing out).
That's all for today post about mistakes new investors make in cryptocurrency. next post, we might come up with the solution to overcome the mistakes that make us losing our money in crypto. if you wanna to add more, comment below, I'll be happy to hear from you guys.