Anyone who has gone through the growth season of 2021 until now, still in the market. Then surely at least once, you were determined to buy a certain Altcoin to hold long-term, continuously DCA and eventually cut losses. Or after a long time returning to check the account, feeling tired and not wanting to talk about it
At any time during an Uptrend or just a wave of increase in the year, we hear many stories. From hearing to seeing, then believing and loving... Then chasing peaks, and below are some common reasons, hope you review before entering the next wave of increase.
First, the most common reason is "trust in the technology of the project and trust in the 3.0 blockchain revolution"
- Remember that the field we are playing in is drawn from technology, but in essence, it is playing "finance"
- Besides traditional companies, large technology companies that are widely applied in reality sometimes only last a few years before being replaced, going up and down. So how long do you think these blockchain projects, which are just pipe dreams and have no real application, can last?
- Looking back, we will see that the shining stars of the industry, the top coins of each season with the "promise of technology" will mostly no longer appear, or if they exist, they are very faint. They do not generate profits for holders in the next season
- Bitcoin and Ethereum have been around for how long, and they are still not widely popular yet, my friends
- We are participating in a financial playground, with technology as the story. We earn profits based on the expectations of others. The technology is built to enhance the crowd's expectations, creating liquidity for the house while the actual application is how much!..!??
=> Abandon the mindset of holding a token for several years because it has good technology.
The second reason, not recognizing the market trend, leads to choosing the wrong time to buy, Fomo with the crowd
- Looking back at the last two cycles of Bitcoin, it is easy to see that after each Halving, BTC will create a new peak. That is also the best time to participate in Altcoin
- Looking back at the annual cycle, it's easy to see that the first three months and the last three months of the year are periods when the market has upward waves. That is also the best time to participate in Altcoin
=> Why hold onto a coin from this season to the next (4 years), from this year to the next year. To endure how much pressure about price, about holding losses, about worrying and fearing due to Fud, Scam. Why not stand outside and wait for a good market phase to play...!?
Third, because of the two mistakes above, it leads to this third mistake. A psychological mistake
- Being blinded by the "technology song", not recognizing the cyclical nature of the market. Buying based on preferences, on a friend's advice, on the crowd's gossip
- Poor position, poor capital management, long-term losses.. Leading to confusion, burden. Making wrong decisions, trying to recover, to earn back the lost money
- When entering an uptrend season, being late (because being deceived by the market for several years, being cautious) then Fomo, comparing yourself with others, regretting the past, having high expectations for the future. Then getting disappointed again
=> In general, if you are always in a state of depression, anxiety, impatience, hope, pain.. Then you cannot make money from investing. Or if you are lucky enough to earn some, sooner or later you will lose it again in the future.. Invest and manage risks well, don't fall into this situation. Some personal shares, not an expert...!!
Wishing you all a joyful morning
