What are the Common Mistakes of Bitcoin Investors?

[gammarays]

I think the common mistake of crypto investors not just Bitcoin is buying when the coin just experienced a pump. They get dumped on by previous holders and that results to loss of funds.

 

[jeff87]

I think the common mistake of crypto investors not just Bitcoin is buying when the coin just experienced a pump. They get dumped on by previous holders and that results to loss of funds.

I agree with you. The common mistake by cryptocurrency investors is wrong timing in buying and selling. When your entry is on the top price of the coin, and then suddenly it dropped because previous investors dumped it to take profit and you are alone on top and you're waiting for the price to go higher and higher and it did not do as what you expected.

 

[Suba]

Not holding for a long term is one of the common mistakes of bitcoin investors. I think people should treat bitcoin as a digital asset that will give them returns for a long term

No, you have to hold all your Bitcoins for the long term, as an investor you also have to be good at determining when there is a price correction to buy and sell when the price is higher, so you will also get short-term profits.

 

[Kelly5]

One major common mistakes of Bitcoin investors especially the newbies into the system is that they don't like studying the market before making dicision

 

[Jsoliu004]

1. High-yield savings accounts. Online savings accounts and cash management accounts provide higher rates of return than you'll get in a traditional bank savings or checking account. ...

 

[jeff87]

One major common mistakes of Bitcoin investors especially the newbies into the system is that they don't like studying the market before making dicision

You are right. One major common mistake of Bitcoin investor especially the newbies or beginners is not studying the market before making a very wise decision. You have to know if the market is bullish or bearish. Bullish market means there more buyers or investors than the sellers. The volume of buyers investment is also greater than the sellers. Bearish market is the opposite of what I have just said above.

 

[Grandeur]

When I first heard about Bitcoin too, I thought you had to always invest all the money in your wallet with high yield investment platforms, I got wise shortly after

 

[mcjerry]

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.

But I think that investors is different from traders. For an investor. He invest his money in crypto currency in return that after some time the coin will grow in price and sell it.
But a trader is the person that buy and sell crypto currency on a daily or weekly basis in other to harvest profit.

 

[Sotherefore]

The common mistake of investors I think is not on knowing if they are long term or short term traders. I believe it's in the wrong entry or exit in the trade. For example, when you enter a trade and you buy a particular coin like Bitcoin Litecoin Etherium, etc and then it was on its peak and then you hold on to it because your prediction is that the price will go up.

To me I believe that all those things doesn't matter if you're investing in that cryptocurrency for long-term because no matter how it drop its will rise back, it is just a little point container and not the most important.

 

[Nomad]

I think a lot of people have already made a huge mistake regarding bitcoin. Let say you knew about bitcoin 5 years ago when price was less than $1000. You did not invest back the and made a huge mistake.

 

[Bennayou]

Apart from bitcoins that other cryptocurrency you should also invest on but I think the mistake of most of all investors that I know is that they did not actually know what they want,if you are considering a cryptocurrency for long-term it must be long-term and short-term must be sure thing because if you're combining all of these two together you will not likely to make profit.

That's is the guidelines for crypto currency

 

[Kelly5]

This type of mistake is very common to newbie cryptocurrencies investors. They think the fact that they've bought a certain amount of coins, it cannot or is not surpose to dip any more else it is a fraud taking place. Lol!!!

 

[Alexandoy]

I agree with you. The common mistake by cryptocurrency investors is wrong timing in buying and selling. When your entry is on the top price of the coin, and then suddenly it dropped because previous investors dumped it to take profit and you are alone on top and you're waiting for the price to go higher and higher and it did not do as what you expected.

When the market price is above the usual level then it is not the time to buy. However, there are times that the crypto coin price has exceeded the expectation that the price continues to rice. Look at Bitcoin that went down to less then $30K but now it is way past $40K and probably nearing $50K.

 

[Sotherefore]

That's is the guidelines for crypto currency

Yes and I think people who are investing in cryptocurrency must observe the general guidelines of cryptocurrency, this will actually help them to make their decision when they are coming fully into cryptocurrency.

 

[Shigobad2020]

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.

Being greedy is a mistakes made by mostly all the investores of crypto and not just only the begginer and we also tend to panic when we hear negative news concerning the dropping of any coin in the market.

 

[HayKay]

One big mistake is wanting to profit from the market at any given point in time - it's not compulsory that profit must be made everyday.
Panic buying or selling is something else most traders fall victim of. Once they see any slight change in prices, they're quick to take action.

 

[Shigobad2020]

The only common mistakes I know crypto currency investor mostly bitcoin investors makes is they normally panic when they hear any rumour concerning the fall of their coin and sell .

 

[Kaffyfolla]

These are common mistake the bitcoin investors

• Putting All Your Money in One Coin. This is a common rookie mistake that we don't recommend doing.
• Not Doing Your Own Research.
• Buying Because It Is Cheap.
• Buying More Than You Can Afford to Lose.

 

[Thinker009]

I think one common mistake is the fear of missing out ,most Bitcoin investors are actually scared of missing out of great profit so they would actually invest at the wrong time and get hooked on the market

 

[Ezekiel]

Some common mistakes of investors is inability to reasearch on the coin most of them just buy the coin without proper research on the coin