Topic: Ego and too much confidence are dangerous in investing. - page 3. (Read 418 times)

This is your fault, you need to learn first before you start investing in crypto.

Expanding knowledge and conducting sufficient research before starting any investment is very important. If you invest immediately without having sufficient knowledge, then this is your fault in the first place.

Bitcoin is the most reliable and profitable investment asset in the long term, while Altcoin and especially shitcoin are highly volatile so it may give you some quick profits and may cause you huge losses.

Sometimes, too much confidence will never do good when investing. That is why it’s important to always invest with caution, otherwise you will be outsmart by the market and eventually see yourself at the losing end. But I believe this is something that is so easy to say but actually hard to be done since a lot of us will fall having the same mentality when we see ourselves already winning from the start. So never be too confident especially when we are dealing with risky investments.

Everyone thinks that they are savvy investors while things go up. The fact that you admit that is already a big deal. Investing everything in one sector, not to mention investing everything in one asset, is a terrible idea.
You should keep a balanced amount of money across various sectors, rather than concentrating it in just one, to reduce the risk of complete financial devastation in case of loss. You can still invest in crypto but only the amount that you handle to lose. Hopefully, your other investments will make up for the losses of your less successful investments.

This is one of those things that bites my arse from time to time. I'll get a batch of homerun picks(like three 20x coins/tokens), then I'll get too cocky at the next batch of coins/tokens and lose like 50% lol.

2021 is where the glory of the crypto market is happening a lot of hype like NFT is becoming a trend, IDO continues to peak because of lucrative profits, meme coins are coming a lot so that the price goes up many times more but you are too complacent with greed so you don't think about how to invest in bitcoin even though it's the end it's the same as falling in price from ATH but at least if your assets are in bitcoin it will come back one day but if it is focused on shitcoin then it will be your loss, even I don't believe altcoins or NFT types can recover like all because of their trend is up and people will not think of reinvesting.

It was your fault for not doing research on what was invested, but it's clear that many people are trapped in shitcoin but you have to start over if there are some assets that are saved and transferred to bitcoin it will be better than continuing to stay on shitcoin that continues fall.

this mistake will be a lesson, but you should be able to start off better not to believe in shitcoin.

Sometimes you don't know what you wanted being a newbie and instead of you to first take time to learn and understand the whole thing about cryptocurrency you hasten yourself to invest on a crutial rush and those altcoins invested on were most fake projects, we ourselves sometimes approach cryptocurrency with the view of a ponzi schemes and this makes people to always find it easy to fall a trap by investing on shady coins or tokens and later after some years they realizes the mistake they had done from the start, must we continue to learn from our mistakes, or we should learn from others' mistakes.

You need to make some findings about coins before investing at all, go for those that have market capitalization that is huge are the best (but taking note that altcoins are like gambling). Among all, bitcoin is the best, lesser volatility and most decentralized, unlike most altcoins that are not well decentralized or having some kind of central control in one way or the other.

But that is not all, you need to have a better strategy like DCA, or DCA and investing like just one third or half of the money you spare to invest on bitcoin, while expecting bear market that you will invest the remaining, or getting to halving period and invest more after you DCA half or one third already. It depends on you, there are different ways you can start investing in bitcoin, get yourself a better investment strategy that you know it would work for you in long term.

The greatest mistake beginners can make is by not accepting yet that bitcoin and other cryptocurrencies (altcoins) are speculative assets while other cryptocurrencies (altcoins) are more dangerous. Try and know the years that bull run is likely and the years that bear market is also likely after bitcoin halving, although this may not continue to work at anytime, but I do not think next bitcoin halving would be the time it will not work again.

2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .