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What are the Common Mistakes of Bitcoin Investors?

  • Thread starter Thread starter Suba
  • Start date Start date
Common mistkes for Bitcoin beginners are not complete information needed for proper analysis, most newbies don't patiently wait to understand all it takes before venturing into it, also the mistakes I can say is rushing to get profits
 
Crypto currency traders regardless the level they are on make some mistakes that leave you feeling so sad for them. For beginners they don’t calm to study enough before entering a trade and they make a big mistake of thinking they can be millionaires after one or two successful trades. And for professionals they become too comfortable believing so much in the knowledge they have gathered that most of them do not bother checking the markets or the news before taking steps
 
Mistake always happen. To avoid mistake in trading, get to grips with the market you’re trading in, learn as much as possible in trading. Understand the price charts, know where your investment window
 
I'm not really a fan of investing especially so many scams are out there. But we all knew that we need to take risk and invest only what you can afford to lose.
 
New bitcoin investors always believe that everything is about gain. They don't always prepare for the loss. Also, they are sometimes greedy and they always stake all what they have in it. The other is that they listen to panic news.
 
The first is to buy when the price is rising rapidly, therefore being able to buy less and risk dropping prices. Two is selling because they are short-term traders and so they lose out when price drops.
 
Not understanding the technology itself: Investors have acted on impulse when it comes to crypto, as it is an attractive way of profiting easily.
Not knowing the basics.
Not reading price chart.
Lack of security awareness for instance Crypto works in the digital world, meaning there’s an ever-existing threat of hackers and can lose your currency anytime.
 
If you are a newbie in the system of cryptocurrency sometimes you should try as much as possible to be patient when you want to buy cryptocurrency because the price in the cryptocurrency system is not stable and it is extremely unpredictable so sometimes if you are thinking of buying coins you should always be patient for the price to drop a little bit before you can go ahead and buy coin,don't just buy it when the price has risen up hoping it will continue to rise like that, there is a possibility that they will fall back.
 
There is many mistakes but i think the most common mistakes are buying coins without doing any research
about it and panic sell when the price fall or greedy and also trusting the scammers
 
Believing the Hype, Social media has a big impact on cryptocurrency trading and investing cryptocurrency investment alsoShort Buying and Selling and impact cryptocurrency market.
 
Suba said:
Often we hear crypto investors make common mistakes that they don't realize, both beginners and senior investors. mistakes that often occur are forgetful, careless and do not have knowledge of crypto. Because of this, I created a new thread to discuss common mistakes of cryypto investors, so they don't happen to Bizdustry members, as well as to share experiences and knowledge about common mistakes of Bitcoin investors.
Click to expand...
The common mistakes most investors made is to buy crypto coin when the price is high. Buying the coin when the price is high is a bad and untrusted thing. Although, it's the newbie investors that will do that mistake.
 
New investors needs to learn about the crypto currency cases to know how to go about investing on it. Crypto investors are expected to be calm and invest when the coins are cheap and sell out the investment when the coin price rise.
 
Most newbies and senior investors get greedy in the crypto by wanting to make tonnes of gain in one trade (it's possible) but you need to be conscious of not being too greedy and don't forget to always set stop loss when trading.
 
Investing is not just investing you need to know as well the fees of trading in what ever your platform is this is one of the things we need to consider because some are trading without noticing the fees for trading so they get a low profit sometime nothing.
 
There are so many mistakes that is made when it comes to cryptocurrency, but the most common I've experienced is panic buying or panic selling.

If one is to take the volatile nature of cryptocurrency, you must understand the need to be patient to make gains from it.
 
Most newbies and senior investors get greedy in the crypto by wanting to make tonnes of gain in one trade (it's possible) but you need to be conscious of not being too greedy and don't forget to always set stop loss when trading.
 
Suba said:
Often we hear crypto investors make common mistakes that they don't realize, both beginners and senior investors. mistakes that often occur are forgetful, careless and do not have knowledge of crypto. Because of this, I created a new thread to discuss common mistakes of cryypto investors, so they don't happen to Bizdustry members, as well as to share experiences and knowledge about common mistakes of Bitcoin investors.
Click to expand...
Yes you started a good topic for discussion. I also wanted to know about it. But something which I have experienced is that we don't want to lose anything while learning something. In start when we get handsome income from our investment, we get more greedy to get more and more. Due to which sometimes we invest in such times where it goes down and we lose our money due to greediness.
 
MRizwan530 said:
The biggest mistake we make when investing in Bitcoin is that we invest immediately when the rate goes up.
We should not do that we should wait for dip or dump when dump comes then we should invest so that when price will pump we can get profit
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This is quite true as most of the new investors and even some so called experts act in the market based on pump in prices. The world of Bitcoin don't work this way as you can buy a huge amount of Bitcoin today and lose value of it the next day when there is a dip in prices.
 
The common mistake I know of is not selling your bitcoin when u are told to by expert. For example. There was this group created for bitcoin traders, the day bitcoin hit $40k the other of the group told his members to withdraw, even though it hit a very high mark. Did you know some of them did not feeling that it will increase more.
 
You must never start selling or buying Bitcoins on the basis of hearsay or unfounded tips. So, just because your friends or colleagues are all praises for a certain cryptocurrency is not enough to start investing in it without doing proper research first. Following advices of so-called investment gurus can land you in a great deal of trouble. Learn about some effective bitcoin automated trading bots available in the cryptocurrency market as they help even beginners to trade like a pro
 
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