A lot of people jump into bitcoin investment without knowing the right time to venture into bitcoin investment. Many investors buy bitcoins when the price is high and their chances of making profits becomes so minimal.
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I have seen many people do this. I think that it is natural to try and blame the coin after you make a huge last because you are trying to find some sort of reason for the loss that you have suffered that does not hold you accountable. At the end of the day it is all decisions that we make that decide whether we make a profit or loss in a cryptocurrency market. Well they are some scum coins that are out there, certainly Bitcoin is not one of them. And I think that it is important for people to own up to the trade that they have made so that it gives them the chance to learn from their mistake.One of the common mistakes they do is panic selling when the price had a sharp drop. Like they never learn and doesn't trust that Bitcoin will regain and surpass the previous ATH. They will willingly sell their investments lower than the price they purchased it for and then Blame and call Bitcoin a scam
I also think it's because of the popularity of Bitcoin that makes people to rush into it without any pre knowledge about cryptocurrency trading and Investment. People should get the necessary knowledge before jumping into this wild markets.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.
I agree with you on this, which is why I always advice any newbie just wanting to invest in Bitcoin to ensure they get the required knowledge before venturing into the crypto market. Some is them buy high and end up selling low when they are scared the price might hit rock bottomOne of the common mistakes that bitcoin investors make is buying bitcoin when the price is at an all time high. The mistakes often happens due to the frenzy that occurs whenever bitcoin price hits an all time high, the investors that misses out when the price was low start buying bitcoin despite the price. When the price comes down they'll realize they made a big mistake.
It is very important to make use of Exchange plaforms that is compatible to your local currency as a small Investor so that you will always be ahead of the transaction fee, I lost $15 to transactions fee last month because of this. We keep learning on daily basis.This one is simple, yet many investors choose an exchange without first reading up on the fees or practices of that exchange. Some of the largest and most popular crypto exchanges also have the highest fees.
High fees mean lower profit margins and, as an investor, you want to be seeking out low-fee secure exchanges to make your portfolio more profitable. With high fees, your investment will have to grow further for you to sell at a profit. Making sure that you’re using the best exchange for your portfolio is vital.