Bitcoin dumped really hard today and for no apparent credible reason. If you lost money, I hope you’ll recover from this dump. It’s weird how despite all the positive news one negative speculation ends up causing a panic sell off. Honestly it doesn’t matter at all anymore as what happened has happened, and what matters the most now is the lessons learned from this. Here are some notes to keep into consideration for later on:
1. No one can truly predict the market especially in the short term.
2. One can easily lose their entire account in a second, never invest what you can’t lose.
3. Don’t trust everything you read. Bitcoin is currently still bullish based on my research and everything happening now (nothing showing otherwise yet), always do your own research and don’t trust others with your money.
4. People are biased and react to current prices and predictions instead of facts and events. When it’s rising everyone thinks it’s going to the moon. When it’s going down everyone thinks it’s going to crash. Don’t trust anyone and anything you stumble upon, be better than the majority and do your own research.
5. The crypto market is highly volatile with sudden pumps and dips, always set adequate stop loss and take profit levels.
6. It’s fine to lose sometimes, stay strong and keep focused. Don’t give up just yet. Have some hope, you haven’t lost anything if you’ve learned a valuable lesson. The most important thing is that you learn from this.
Best of luck trading, and don’t worry about today. Think of today as an opportunity to grow and learn. Let’s learn together and improve so we can make 2024 a truly special year!
