Anyone who has gone through the 2021 growth season until now, still in the market.. Surely at least once, determined to buy a certain Altcoin to hold for a long time, DCA continuously.. And finally cut losses.. Or after a long time of a few years, looking back at the account, bored and not wanting to talk about it.
Every time there is an Uptrend or just a wave of increase in the year, we hear a lot of stories.. From hearing to seeing, then believing and loving.. Then riding the top.. And below are a few common reasons, hope you guys review before entering the next wave of increase..
First, the most common reason is "belief in the project's technology and belief in the 3.0 revolution"
- You guys should remember that the field we are playing is drawn from technology, but the essence is playing "finance"
- Besides traditional, large technology companies, widely applied in reality, sometimes only a few years later they are replaced, going up and down... So how long do you think blockchain projects that are just a pipe dream, have no practical application, and do not solve anything for society can last?
- Looking back, we will see that the bright stars of the industry, the Top coins of each season with "technological promises" will mostly no longer appear, or will still exist but very faintly. Not creating profits for holders in the next season.
- How long have Bitcoin and Ethereum been around? They are still not popular yet, guys. We are participating in a financial playground, with technology as the story. We make profits based on other people's expectations. Technology is built to increase the expectations of the crowd, creating liquidity for the bookies to lie, but how much is actually applied!..!??
=> Get rid of the idea of holding on to a token for a few years because it has good technology.
The second reason is not recognizing the trend of the market, leading to choosing the wrong time to buy, fomo following the crowd
- Looking back at the last two cycles of Bitcoin, it is easy to see that after each Halving, BTC will create a new peak. That is also the best period to participate in Altcoin.
- Looking back at the annual cycle, it is easy to see that the first 3 months and the last 3 months of the year are the periods when the market has an uptrend. That is also the best period to participate in Altcoin.
=> Why do you have to hold a coin from season to season (4 years), from year to year... To endure so much pressure on price, to bear losses, to worry and fear because of Fud, Scam...
Why not stay out and wait for a good market period to play..!?Thirdly, because of the above 2 mistakes, this third mistake is made.. Psychological mistake
- Blinded by "technology hype", not realizing the cyclical nature of the market.. Buying based on preference, following a friend's advice, following the crowd's gossip
- Bad position, bad capital management, long-term losses... Leading to confusion and pressure... Making wrong decisions, looking for ways to recover, earn back lost money
- When entering the Uptrend season, I was late (because I was previously fooled by the market for several years, I was on guard), I had Fomo, compared myself with others, regretted the past, had high expectations for the future... Then I was dumped again.
=> In general, if you are always in a state of sadness, anxiety, impatience, hope, pain... Then you cannot make money from investing. Or if you are lucky enough to make money, sooner or later you will lose it in the future.. Invest and manage risks well, do not fall into this situation.
Have a nice afternoon everyone.
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