Cryptocurrency Market
Hello dear community and crypto friends.
On online platforms one reads more and more frequently about things like "when is it uphill again" or "my portfolio is heavily in minus" etc. etc.!
I find that very interesting and would like to lose a few words especially for the beginners.
We are not exactly at the zenith of the courses, but rather the opposite is the case. For many, the portfolio is heavily in negative territory,
especially when it was invested at the end of the year. Probably the worst time you could choose but then you have to be self-critical
and ask yourself why you personally invested. The reason is 99% always the same: greed. Who does not know: greed eats brain.
That's what we all should learn from. To all the deep red crypto friends, here are some advice and personal experiences:
Never invest more than you can lose. You hear that phrase over and over again. Somehow, too. Never invest money, which you short-term for the
Rent, repairs or similar things could need. Only invest from your play money account which you might go to the movies or buy nice clothes.
Do not take out a loan, cancel a savings contract or bring grandma around the corner. The one coin on 0 in the next 24 months I think is unlikely. If you are in the dark waiting, the market will recover and make you happy. Hodl!
If you are new to the market and you do not know very well, you will invest in the Top 10 - Top 30 at best. A total loss is much less likely than the Shitcoin No. 1365. Depending on the risk, your investment spreads. The more you invest in Biotcoin or Ethereum, the safer you are. Nevertheless, you are in a highly volatile market. A certain risk affinity could be assumed. The fewer coins are in the portfolio at the beginning, the easier it is for you to keep track of the market events.
Who relies on others is left. Why did you invest in certain coins that are now pulling your portfolio down? Probably because of the many Youtubers. Again, I would try as little as possible to put on the "rocket channels". There are many Youtubers out there who have absolutely no plan of the matter and celebrate their clicks, which unfortunately many of you have contributed (understandably).
The more pictures and the more exciting the preview, the sooner you should close the window again. These names for the pseudo experts should serve as a warning. They make the most money with their clicks - not with years of experience. I think the channels are like those patsy outlets. Always balloons, warehouse sale and 70% off. On Youtube everything is Moon and + 80,000% (greed eats brain). Pay attention to content, not show. If you talk a lot, you do not have to say much. Look at technical channels, white papers, books, etc. and try to understand the technology. After that, you can independently form an informed opinion. Ask in forums or discuss with them. You have more of that than the opinion of Mr.Cryptomoon2018.
Never invest 100% of your budget directly. Sprinkle it over a longer period of time. If you have chosen a bad entry level, then you have enough budget left over to buy in case of price falls. I buy, for example, as soon as my purchase price has fallen by 50%. But even then I take only a small part. You never know how far it can go in the short term. Definitely set a limit and should your fun budget be exhausted, let it be good and HODL !!!!
The market is young and dynamic. There will certainly be regulations and other things will influence the courses. Nobody can say what will happen, but Julian's statement that Bitcoin can be between 5,000 and 50,000 shows wonderfully that even professionals who deal with it on a daily basis can not make any real statements (in the short term). Believe me, the 17 year old Moon-Youtuber with Cap does not know either.
As a beginner, do not start the race in daytrading. You are in the shark tank with the whales, bots and professional chart analysts. Only professionals should be active here. The same applies to a sale in the red area and speculation on falling prices + subsequent Reinvest. This is also dangerous. If your feet are cold, because you are in the minus and want to sell it - to buy later in the valley - it is again a very high risk of loss. Just keep calm and HODLn. As long as you HODLt the loss is just a book value. In daytrading you realize it.
Be critical, question and always try to learn. You invest your hard-earned money and you should handle it accordingly. Do not be reckless. Before you fly on vacation for 3000 € you check certainly hotels, location, etc. and does not buy directly from the brochure? Then it does with Cryptos. The same applies to general stock trading! Inform, read a lot, master and understand matter.