Do you know why you still can't make money in a bull market?

Five common mistakes made by novice retail investors in cryptocurrency!

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1. Buy when the market is bullish and sell when the market is down

Many people like to buy when the market is bullish, thinking that they can make a lot of money. But the market is volatile, and buying when the market is up and selling when the market is down is often easy to get stuck. You must learn to calmly analyze market trends and formulate reasonable investment strategies.

2. Invest in a single currency

Putting eggs in one basket is too risky. There are many types of cryptocurrencies, each with its own characteristics, and diversified investment can reduce risks. Don't invest all your funds in one project, and diversification is a wise move.

3. Borrow money to invest

Some people do not hesitate to borrow money from relatives, friends or lending institutions in order to increase their investment. This approach is extremely risky. Once the market fluctuates, not only the principal may be lost, but also heavy debts may be incurred. So, don't borrow money to invest.

4. Blindly follow the trend

Many people blindly follow the trend when they see some big V or Internet celebrities recommend a certain project, and often suffer losses. Everyone has different investment concepts and risk tolerance, so you can't blindly follow others. You must have your own judgment and invest rationally.

5. Not doing market research

Many people are tempted by the rise and fall of cryptocurrency prices and buy directly, but the results are often not ideal. The market is complicated. How can you find out the door without in-depth research? Therefore, you must do your homework before investing, understand market trends, project background, etc.

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