Reasons why novice investors lose money in the cryptocurrency bull market:
First: At the end of the bear market and the beginning of the bull market, they are afraid to buy. Having just experienced the baptism of the bear market, their minds are still filled with bear market thinking, missing the best time to enter.
Second: In the mid-bull market, when the trend rises, they are afraid to buy, always thinking to wait a little longer for a lower price. When they finally enter, they may find themselves trapped at the peak, making it impossible to buy in.
Third: They can't hold onto profits, frequently making short-term trades, selling at small gains.
Fourth: Misusing leverage leads to liquidation.
Fifth: At the end of the bull market, when the market goes crazy, under the impact of profit, they cannot resist the huge temptation, frequently increasing their positions and chasing prices, leaving themselves standing guard at the peak. To determine whether the bull market is still ongoing, the simplest strategy is to watch Bitcoin's movements. As long as they do not cash out significantly, it means the bull market is still there!
As a seasoned cryptocurrency investor, I share my experiences and insights for free. Interested in the crypto space but don't know where to start? Follow me to see my insights and help you achieve freedom in this bull market.