When stepping into the cryptocurrency market, everyone hopes to achieve significant profits, but not everyone knows how to invest correctly. In 2021, when I first entered this market, I made some mistakes due to a lack of experience and being influenced by inaccurate information.

Back then, I often heard people talking about the currency 'preparing to moon' and out of fear of missing the opportunity, I jumped in and bought when prices were rising sharply. In reality, the price did rise, but profits only came to those who bought early when the prices were low.

My biggest mistake was buying when prices were high. I did not sell when I had achieved a certain profit, but held on hoping the price would continue to rise. As a result, I had to keep my investment since 2021, and now I can only sell for a small profit after many months of waiting.

Lessons Learned from Personal Experience

Here are the things I've learned and hope can be useful for those just starting out:

  1. Never run blindly in one direction.
    When you hear people say that a currency will skyrocket, you need to analyze it yourself. Values often increase significantly when rumors spread, and if you jump in at this moment, you are likely to buy at a peak price.

  2. Always sell when your currency surpasses its previous high.
    This helps you respond in a timely manner, before the market can adjust downward slightly.

  3. Be patient and buy when prices drop (the market is correcting).
    The cryptocurrency market is always volatile. After each gradual increase, there will often be a correction phase. This is the best time for you to buy at a lower price.

The Story from 2021

At the end of 2021, the market fell into a severe downturn. The value of the currencies I bought at their peak dropped sharply, making me feel regretful. If I had waited for the price to correct after the increase, I could have bought at a lower price and achieved greater profits when the market recovered.

Advice for Beginners

  1. Don't let emotions dictate your investment decisions.
    Greed and fear are two emotions that lead many people to make wrong decisions. Always keep a cool head and make decisions based on analytical facts.

  2. Research skills before starting to invest.
    Understanding the currency, project, and its potential is a way to help you minimize risks.

  3. Accept that the market will always have fluctuations.
    Don't panic when prices drop and don't get overly excited when prices rise. The market will always go up and down in cycles.

  4. Implement a buy low, sell high strategy.
    This is the most fundamental yet effective principle. Always remember that the best opportunities often come when the market is engulfed in fear.

Conclusion

The cryptocurrency market is full of opportunities but also comes with risks. Understanding the nature of the market and applying appropriate investment strategies will help you achieve solid success. Always remember: buy when the market is fearful, sell when the market is greedy. This is the secret that helped me improve my investment situation and may help you avoid unnecessary mistakes.

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