LIVEDuring a bull run in cryptocurrency, people might experience losses for various reasons. Here are five common ones to watch out for:
Lack of Research: Investing without researching the fundamentals of a cryptocurrency can lead to losses.
Overleveraging: Using too much leverage can result in significant losses, especially if the market becomes volatile.
FOMO (Fear of Missing Out): Making rushed investments out of fear of missing out can lead to buying at peak prices.
Poor Risk Management: Not setting stop-loss orders or investing more than one can afford to lose can result in substantial losses.
Ignoring Market Cycles: Failing to understand market cycles may lead to buying high and selling low, which goes against profitable trading strategies.
Approach investing cautiously and ensure you're well-informed about the assets you're investing in.
