3 mistakes made by inexperienced investors Bitcoin!

You will win if you stay away from the three mistakes made by inexperienced Bitcoin investors who are new to the industry . These are: Opening a trade against the current trend, Trading during the Consolidation process and Neglecting to reduce their Risks!

Three Basic Mistakes Made by Inexperienced Bitcoin Investors

Especially volatile cryptocurrencies This rule applies when it comes to volotile even BTC. More precisely, the industry itself is volatile!

Let’s explain with an example. On October 11, BTC prices within 30 minutes suddenly dropped $400.

Of course, this decrease was primarily like ETH and XRP. It had a double impact on all altcoins paired with BTC, including well-known altcoins.

After that, the Tether scandal broke out and Tether, which was pegged at $1, fell to $0.869.. As a result, there was a $300 meltdown in BTC price on certain exchanges paired with Tether, not USD.

Daily Chart

All cryptos are paired with BTC. Although crypto traders and investors are aware of the reasons behind these price movements, they still do not hesitate to invest in altcoins in this process.. But BTC doesn’t act on their wishes.

We encounter some small but risk-free crypto traders in the process.. These people are very willing to close the day with 2-3% profit by opening small positions.

However, as we said at the beginning, the Crypto markets are very volatile.. Pursuing low profits during the consolidation process may mislead you and the market may suddenly rise, taking all your profits away or even putting you in loss.

Therefore, it is the most logical option to wait for the completion of the consolidation process and reduce the risks considerably.

Weekly Chart

The biggest mistake inexperienced Bitcoin investors make is insisting on keeping their long-term positions, thinking that prices will rise again after a sudden increase.. This is so wrong, because neither a bull market nor a bear market lasts forever.. Whether you reach for the loot or not, the loot will disappear again as the waves recede.

In the weekly chart above, at the peak in December, experienced traders began to wait for prices to drop to sell their holdings and buy at a more affordable price.. Then you see how BTC prices go down.

The point that causes inexperienced Bitcoin investors to be deceived is the profit made by long-term HODLers in 2017.. If the earnings in the cryptocurrency industry are 100, only 10 of those who HODL will win, the remaining 90 will be earned by traders.. Remember, if you do not sell while the value is good, you will neither make a profit nor a loss! It is even possible that you will have to sell and be damaged later on.

Although we think that BTC will appreciate in the future, fiat currency is still valid today.. Personally, I think it is healthier to trade with a dollar focus.. When you increase your dollar, you can buy more BTC when prices fall.

There is no need to be a stubborn trader or investor in this market.. I think HODL means not selling when prices go up, and being upset when prices pull back.

When you miss the opportunity, it can sometimes take months or even years for the markets to rebound.. This leaves you with both physical and mental fatigue.

Many of the new traders today have not taken advantage of the great bull run that came at the end of 2017.. Because the price predictions of the doyens of the crypto money industry may have put you in expectations, thus preventing you from taking profits.

As Koinmedya, we are a news site operating in the crypto industry.. It is our job to share the words and price estimates of the industry and veterans.. However, as we approach the end of 2018, we witness how the 2018 year-end price predictions of the experts turn out to be empty.

Do not rely too much on the price predictions of the experts.. Also, be suspicious of those who don’t bark about the crypto industry on Twitter or YouTube.. His description of a price chart shows how knowledgeable he is and your ignorance of the industry.. The high number of followers or subscribers does not make a person a doyen of the industry.. After all, you don’t know how successful he is.. Never let them add you to their pump group, you will cry at your loss.

Even though the crypto money sector may seem like a grift, the rules of the game are still the same, it’s quite simple: First of all, you can start by reducing your risks.. Divide your capital into three parts. Dollar- BTC- other altcoins. Do your own research, this is called DYOR in English (do your own research).

Smart people don’t put all their eggs in one basket.. To reduce your risks, you should diversify your investments with different altcoins.

To summarize again

• Diversify your investment to minimize the exposure to market fluctuations and to reduce risk
• Clean choose a strategy, stay away from this long term HODL crap. Because the opportunity in 2017 will not come again! Look to increase your dollar.
• Uncertainty prevails in the consolidation processes. In these processes, you should wait until the trend changes.

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