Sad to see these types of news. I mean these types of news are only seen after this bear market and nothing can be done to be honest.
People those who don’t have prior knowledge in cryptos, just invest and seeing this bear market effect they panic and sell. They don’t know that the bear market is just manipulating their minds.
Nevertheless same would have been happened to the people that the OP is referring here.
You can easily conclude that this is not the fault of market, rather people are not going the right way.
Topic: Having losses? Or people are not going the right way - page 3. (Read 564 times)
Yeah I’m still amazed at the amount of people who first find out about bitcoin but decide that they are going to invest (or more like bet on) an altcoin or altcoins thinking that it is going to be the next bitcoin. People are delusional, not sure what it’s going to take for people to wake up and realize the coin with the most utility, and since day one, is bitcoin.
And I'm not amazed. They saw that 1 bitcoin costs 20k and 1 shitcoin just 1USD so "why not buy 1USD coin? I don't have 20k!" That's the mentality we're dealing with here. People don't think, they don't want to spend time to learn, they want money.
Maybe 20% of all people who invest are "bitcoiners", meaning people who are interested in bitcoin. Those people read the news, sometimes write on forums, have tried different wallets, exchanges, signing messages, paying for goods and services. The other 80% are speculators like traders, fund managers, normal people who heard about it and thought it's a money multiplying scheme. You put 1 dollar in and get 2 dollars a year later. All they care about is the numbers and when these numbers aren't satisfying anymore they complain about broken promises and all that.
You are right. I saw this from one other post here and I think it totally illustrates what the Subject is talking about.
Most people in crypto today are more "supposedly" traders and not investors. They are looking to make quick money as you said and don't even know how to do that thinking they can buy any crypto and the price will double in a short time but if that didn't happen they panic. I believe that it requires knowledge for you to know what happens in the market and most people don't what to do that, and with market knowledge, you can practice patience which usually pays in the end only if you also INVESTED in the right cryptos.
Most people in crypto today are more "supposedly" traders and not investors. They are looking to make quick money as you said and don't even know how to do that thinking they can buy any crypto and the price will double in a short time but if that didn't happen they panic. I believe that it requires knowledge for you to know what happens in the market and most people don't what to do that, and with market knowledge, you can practice patience which usually pays in the end only if you also INVESTED in the right cryptos.
Greed has made many people forget the real purpose of investment. According to this google definition "An investment is an asset or item acquired with the goal of generating income or appreciation. Appreciation refers to an increase in the value of an asset .." With this definition, investment don't give big returns few days after, the assets appreciate and generate income in due time. Nowadays, investors want the quicker and faster way of getting big profits which often end up in regrets because most of those projects offering big profit within few weeks always end up in the whole.
Time and experience should teach us not to trust such projects anymore, people should understand that real investment takes time to yield a positive results, a good look at all the successful companies, organization who has been in operation for a long time explains it all, they say nothing good comes easy. I have long ago re-evaluate my approach and thinking towards investing in any project.
The thing is that there is no growth opportunity in altcoins but that doesn't mean you cannot gain profits out of them as many have done so by investing at the right moment and withdrawing the funds when it rises to certain level but that's not easy.People see some insane pumps in them and in greed invest life savings in those altcoins based on some paid influencers which is definitely wrong move.If you are new then btc is the best option for you.
Yeah I’m still amazed at the amount of people who first find out about bitcoin but decide that they are going to invest (or more like bet on) an altcoin or altcoins thinking that it is going to be the next bitcoin. People are delusional, not sure what it’s going to take for people to wake up and realize the coin with the most utility, and since day one, is bitcoin.
At this stage in the Bitcoin timeline, if you HODL, you won't and don't have losses- just check back in a couple/few years. This is simplest and most effective strategy, may also save you a lot of stress as well.
Incurring loses is not as a result of not doing it right but sometimes we might just need to get the right people around us that will trigger us to do things that will make us more fortunate looking at the way it ought to happen. If we want it get things right, we need to develop the right attitude and work with the right people to get things done and get close to success which is very important.
Some time loss opportunity with coin have already sold price suddenly pump few days later but ever we hold some altcoin for long time but keep going dump. I think the problem with cryptocurrency as investing way depending when first time correct altcoin, what ever investing method with long or short term but when making correct investing I think keep profitable. I have the same experience with you because ever make cut loss on Doge coin still price under $0.06 before few weeks later Doge coin touch all time high price. I lost about $5,000 and I think keep holding Dogecoin and not panic for cut loss I will reach much profit above $120,000.
I have to say that doge is an exception when we are talking about projects. I mean that is a "meme" coin, which means that it goes up and down based on the hype it has. If it has a lot of hype then it will go up, and if it has low hype then it will go down.This isn't some project where you have to go up based on fundamentals or chart, it is not like bitcoin or ethereum. Elon could tweet about it and make it big again, that is not a serious investment, that is a fun one that you joke around with and if you put your money into something that was made out as a joke, then you are making a big mistake. That is my understanding at least, I wouldn't really consider it a good thing.
When it comes to investing, we often make mistakes in choosing crypto assets. That's why we should know about any asset with utmost importance.
There are many differences between Bitcoin and Altcoins. For example, Bitcoin is called decentralized while Altcoins are called centralized. ATH happens easily with Bitcoin but very rarely with Altcoins. Bitcoin is the only one crypto where thousands of altcoins exits in current crypto market and new coins are constantly being added to the cryptomarket. An investor should take decision keeping in mind the above points.
Bitcoin is the main investment choice that is not associated with any altcoin, so it doesn't affect it much. but on the other hand if bitcoin is affected by the market and bitcoin crashes all altcoins will also crash. For this reason, bitcoin is the center of all altcoins. However some altcoins also have strong foundations like Ethereum which are able to follow the direction bitcoin goes. those who are wrong to have crypto investments certainly don't learn from this forum. you will find many recommendations if you read some of the threads on this forum. A wise investor will do research before investing because that is the rule that must be followed so as not to get caught in a bad investment. There are many differences between Bitcoin and Altcoins. For example, Bitcoin is called decentralized while Altcoins are called centralized. ATH happens easily with Bitcoin but very rarely with Altcoins. Bitcoin is the only one crypto where thousands of altcoins exits in current crypto market and new coins are constantly being added to the cryptomarket. An investor should take decision keeping in mind the above points.
I remember my experience in the past and was still a beginner in crypto and at that time I invested and at that time the price of the crypto I bought went down and at that time I panicked and kept selling and finally my money ran out, but not long after the price of the crypto I bought suddenly went up back and even higher
Market makers create hypes and panics and newbies are more vulnerable to be affected. Buy highs, sell lows that are newbies mostly do and losers often do in the market.Quote
so in my opinion if we invest in bitcoin or altcoins. if for example there is no profit, do not sell and must be strong to hold.
Not true. You should learn and cut loss at the right time when there are signals for that. Because if you cut loss at right time, you will have chances to buy back at lower price. You will have more amount of the coin you want to invest in.However, it is not true if what you choose is a bad one. It will fall to zero and developer or scammer team will abandon that project. No rally to the price you buy initially.
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when investing it is better to use idle money, so that our minds become calm.
It is true. Investing with money you borrow is bad. Especially if you borrow it with high interest, you will have more pressure that can cause stupid decisions. If an holder bought at high price, they may not want to wait again and sell in losses after coins like bitcoin has already reached all-tim-high. Some people that invested at low price can gain but altcoins are more risky.
Bitcoin has always reach all-time-high. Many people that complained before the present all-time-high with unrealized losses (people that did not sell when they were losing) later gained and were all happy, bitcoin increased from $19500 all-time-high in 2017 to $69000 all-time-high in 2021. Bitcoin market has been unfavorable this year but which people that know about bitcoin are not surprised about, they have predicted this bear market before it happened. If bitcoin is presently at $21000 by now, they should know that the market is healthy, that they should not sell in loss. If they hold bitcoin, all-time-high is coming, I am predicting the next bitcoin all-time-high to reach over $100k.
If they understand that the crypto market has a bear market and a bull market, they are not in a rush to make decisions and will always analyze before deciding. And if they are an investor and are already buying at a high price when the price drops sharply, they will not sell the bitcoin at a loss but instead, hold on to the bitcoin while trying to buy more at a low price. This will allow them to buy at a low price and lower their average buying price so that they can sell it if the price goes up high at any time. Bitcoin has always reach all-time-high. Many people that complained before the present all-time-high with unrealized losses (people that did not sell when they were losing) later gained and were all happy, bitcoin increased from $19500 all-time-high in 2017 to $69000 all-time-high in 2021. Bitcoin market has been unfavorable this year but which people that know about bitcoin are not surprised about, they have predicted this bear market before it happened. If bitcoin is presently at $21000 by now, they should know that the market is healthy, that they should not sell in loss. If they hold bitcoin, all-time-high is coming, I am predicting the next bitcoin all-time-high to reach over $100k.
I don't even make blame these people who tell their story of what really they experienced upon investing in crypto and I have no way to argue with them for the reason that it was their fault either. However, I'm going to disagree that people are saying that crypto is a scam and not a good investment. Since it was their fault, therefore, they don't have the right to blame crypto as well. They are supposed to study the market and even spend their time knowing more about crypto as it was possible that these people are not aware of how risky this was and are not even aware of its volatility.
I remember my experience in the past and was still a beginner in crypto and at that time I invested and at that time the price of the crypto I bought went down and at that time I panicked and kept selling and finally my money ran out, but not long after the price of the crypto I bought suddenly went up back and even higher. and from that incident I thought and began to improve my thinking and began to learn again about good trading. so in my opinion if we invest in bitcoin or altcoins. if for example there is no profit, do not sell and must be strong to hold. because the purpose of investing is to make a profit, and in my opinion, when investing it is better to use idle money, so that our minds become calm.
Some time loss opportunity with coin have already sold price suddenly pump few days later but ever we hold some altcoin for long time but keep going dump. I think the problem with cryptocurrency as investing way depending when first time correct altcoin, what ever investing method with long or short term but when making correct investing I think keep profitable. I have the same experience with you because ever make cut loss on Doge coin still price under $0.06 before few weeks later Doge coin touch all time high price. I lost about $5,000 and I think keep holding Dogecoin and not panic for cut loss I will reach much profit above $120,000.
I remember my experience in the past and was still a beginner in crypto and at that time I invested and at that time the price of the crypto I bought went down and at that time I panicked and kept selling and finally my money ran out, but not long after the price of the crypto I bought suddenly went up back and even higher. and from that incident I thought and began to improve my thinking and began to learn again about good trading. so in my opinion if we invest in bitcoin or altcoins. if for example there is no profit, do not sell and must be strong to hold. because the purpose of investing is to make a profit, and in my opinion, when investing it is better to use idle money, so that our minds become calm.
Some time loss opportunity with coin have already sold price suddenly pump few days later but ever we hold some altcoin for long time but keep going dump. I think the problem with cryptocurrency as investing way depending when first time correct altcoin, what ever investing method with long or short term but when making correct investing I think keep profitable. I have the same experience with you because ever make cut loss on Doge coin still price under $0.06 before few weeks later Doge coin touch all time high price. I lost about $5,000 and I think keep holding Dogecoin and not panic for cut loss I will reach much profit above $120,000. Who wants to become rich over the night, crypto is not for them. they should do bank robbery or any other things. I think most of the people included in the survey chose some worst shit coin so they must lose a big amount. Even bought Bitcoin in ATH and also lost a couple of x from that price. So if people don't have enough patience they can't make a profit. I can say they just come on the crypto just to become a millionaire or something like that. They just jump into crypto to get a profit but they don't know how to make a profit from crypto. It is not easy like pump dump shit coin and as we know everyone cannot be a gainer from the pump dump shit coin. If you want to make money from crypto then you must be a strong holder.
You are right. I saw this from one other post here and I think it totally illustrates what the Subject is talking about. Most people in crypto today are more "supposedly" traders and not investors. They are looking to make quick money as you said and don't even know how to do that thinking they can buy any crypto and the price will double in a short time but if that didn't happen they panic. I believe that it requires knowledge for you to know what happens in the market and most people don't what to do that, and with market knowledge, you can practice patience which usually pays in the end only if you also INVESTED in the right cryptos.
I remember my experience in the past and was still a beginner in crypto and at that time I invested and at that time the price of the crypto I bought went down and at that time I panicked and kept selling and finally my money ran out, but not long after the price of the crypto I bought suddenly went up back and even higher. and from that incident I thought and began to improve my thinking and began to learn again about good trading. so in my opinion if we invest in bitcoin or altcoins. if for example there is no profit, do not sell and must be strong to hold. because the purpose of investing is to make a profit, and in my opinion, when investing it is better to use idle money, so that our minds become calm.
Most of the people got in during the peak of the market when the hype is so strong. It is obvious that when the hype fade, the price will correct itself, and those who invested in it will surely suffer losses. Those who invested in BTC are definitely going the right way but most of them lack knowledge and patience so they derail from the correct path and give up their holdings at a lost. If they only intended to hold for a long term, I think the survey won't have the same result.
While those who invested on altcoins that are shitcoin and are only driven by hype, are definitely in the wrong way.
It’s always a challenge to invest in the right coins as we can’t predict precisely as to what coins will survive for long, others may have been lucky and invest into bitcoin while some end up investing in altcoins and shitcoins because they find them more promising. Although i’m not saying that investing in altcoins is bad, but it’s a always a high risk investing in them and yet there are no guarantees that they will continue to surge and reach new all time highs. Unlike bitcoin, if you are just patient enough, hodling bitcoin for long term is proven to bring huge profits in the end. While those who invested on altcoins that are shitcoin and are only driven by hype, are definitely in the wrong way.
OP is right. With every bear market, bitcoin has come out to be even stronger and it has survived all the dumps.
This makes bitcoin the most trusted cryptocurrency. It creates a new ATH every time and with the current bear market we can expect the same.
The chances of bitcoin reaching the $100k target is getting closer with every ATH.
This makes bitcoin the most trusted cryptocurrency. It creates a new ATH every time and with the current bear market we can expect the same.
The chances of bitcoin reaching the $100k target is getting closer with every ATH.
Doesn't seem like they actually lost out but rather instead their profits were less than expected? So I guess any of them weren't really losing anything nor have they really made any wrong general investment decisions since they still ultimately profited. It is kind of weird how they expected or thought of crypto as an easy way to make money, it may have been true foe the early days but I don't think it applies to recent times now, not to mention it also requires a lot of know-how on what to do to exactly profit.
Cryptocurrencies can indeed be made to earn money and can even change lives or gain wealth because not a few have succeeded in changing their life stories from cryptocurrencies.but all of that is not easy and short, many big risks in the crypto world can even result in losing all the assets used to play crypto depending on how they can use the right strategy and can overcome their emotional self.
Making thousands out of $100 in altcoin is so rare, that's why it's not really a good thing to risk your money in altcoin as a beginner because of its cheap price. Bitcoin is a safe place, where you could peacefully let it sleep in your wallet if you're planning to HODL after you bought in a dip. I started here in 2016 where Bitcoin was $500-$600 if I'm not mistaken, since then I never doubted it.
People are losing their money mainly because they don't know exactly what they are doing, simple as that.
People are losing their money mainly because they don't know exactly what they are doing, simple as that.
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