Topic: ONE MAJOR LESSON LEARNT SO FAR THIS WEEK FROM THE CRYPTO MARKET 😥 - page 2. (Read 531 times)
November 17, 2022, 09:22:53 AM
I learned two lessons during this past week from the crypto market, which is not to trust strangers, whatever their experience in technical analysis, because most of their analysis is not real and based on illusions, and not to put my currencies on central exchange platforms because my currencies will be at risk if something catastrophic happens to the exchange platform In which I hold my currencies, and the FTX platform was the closest example, we must learn from the lessons and from the mistakes of everyone in order to gain experience and not repeat their mistakes.
November 17, 2022, 03:52:59 AM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
This week alone. Hmmmmmm let me think for a minute.I personally, learnt to always take profit.
I don't know if I learned it just because of what happened last week since I'm already doing it for quite some time but, being patient and doing nothing is better than panicking.
I mean for me; I didn't learn anything since I'm already doing it for a long time and things like these are the ones I always see year after year after year. It's just that what happened to FTX was the largest one.
For newbies, maybe they learned a lesson. Things like "Don't put huge money on exchanges." or "Not your keys, not your coins." or whatever it is. You learned to always take profit. That's good for you as long as it's working on your favor. Some investors aren't taking profit for short term unless they are traders and for me, what happened last week is something that will not change my long term strategies.
November 17, 2022, 03:03:17 AM
FTX has taught many people an important lesson, not your keys, not your coins.
The number one thing that matters in the cryptocurrency space is self-regulation. Never put all your eggs in one basket, Take profits!
They didn't give us any lessons, FTX is not the first exchange to crash, before that many centralized exchanges have also collapsed. FTX is just reminding us again, never trust anyone in this market but yourself. Since you're new to the forum, if you've been here long enough, you'll always be reminded to never leave your money on centralized exchanges before FTX crashes.
The death of FTX reminds me that anything is possible in this market, the bigger the market, the bigger the losses, always be ready.
November 17, 2022, 02:15:37 AM
FTX has taught many people an important lesson, not your keys, not your coins.
The number one thing that matters in the cryptocurrency space is self-regulation. Never put all your eggs in one basket, Take profits!
November 17, 2022, 12:22:44 AM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Always be cautions of all possibilities, both good and bad, don't overtrust toy online platforms because we never know what they are doing behind ours back because basically developers will change and become greedy when they see a lot of money, and keep believing that current conditions are improving and vice versa because there is always good and evil I personally, learnt to always take profit.
November 16, 2022, 11:41:02 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Learn to be patient if profits haven't come today and keep trying to look for opportunities to make profits. That's what I've learned over the years and not just this week because I know that market conditions will always change and I often make mistakes in my analysis which causes me not to be able to get a good time to enter the market. And this makes me have to be patient, waiting for the time to buy or sell but I don't give up because that's the process. As long as we enjoy going through the process, we can survive and benefit.I personally, learnt to always take profit.
Indeed, if we look at everything from the positive side, it will be seen that it is indeed a mistake that is being made now so that it will not be done again another day.
Patience can be one of the things that can strengthen us now, especially with market conditions like today which keep falling again and again, of course we have to be tolerant when looking at the portfolio we have now.
Giving up is not the right thing because right now we are just waiting instead of letting this happen and giving up in the middle of the road it is better to choose to wait and hold on to what we have now.
By having patience, we can keep trying to reach the target we want and even though it looks slow, eventually, we will reach the goal we want to achieve. So there's no point in us complaining about the current situation because if we look at the current conditions, we are still given the opportunity to buy lots of potential coins, including bitcoin. But we have to analyze it to find the coins.
November 16, 2022, 06:01:24 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Learn to be patient if profits haven't come today and keep trying to look for opportunities to make profits. That's what I've learned over the years and not just this week because I know that market conditions will always change and I often make mistakes in my analysis which causes me not to be able to get a good time to enter the market. And this makes me have to be patient, waiting for the time to buy or sell but I don't give up because that's the process. As long as we enjoy going through the process, we can survive and benefit.I personally, learnt to always take profit.
Indeed, if we look at everything from the positive side, it will be seen that it is indeed a mistake that is being made now so that it will not be done again another day.
Patience can be one of the things that can strengthen us now, especially with market conditions like today which keep falling again and again, of course we have to be tolerant when looking at the portfolio we have now.
Giving up is not the right thing because right now we are just waiting instead of letting this happen and giving up in the middle of the road it is better to choose to wait and hold on to what we have now.
November 16, 2022, 05:55:35 PM
The cryptocurrency space is quite interesting and it's almost impossible to be active in the market without learning. I've always known that the market is volatile and requires a great deal of patience and carefulness. But last week, I never anticipated that an exchange as good as fxt could be hacked and trading halted. This shows that there's really no exchange that cannot be affected. I've made a commitment to avoid leaving substantial amount of funds on my exchange.
November 16, 2022, 05:49:15 PM
Your keys, your coin. Sending your coin to the any service like cex meant if you have agreed to give control cex over your money. people shall learn from what happened with FTX or any crypto platform. People just need to learn about if they must never try to trust or leaving their money to the centralized entity that have control over their money. If the platform would be collapse and investors or traders who sent their money to the exchange site will get nothing for sure.
The main important thing that can be learned from the last week's incident. That must become a major lesson to be learned by anyone in the crypto market. It's caused by this case was happening so many times.
The main important thing that can be learned from the last week's incident. That must become a major lesson to be learned by anyone in the crypto market. It's caused by this case was happening so many times.
November 16, 2022, 12:28:27 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Learn to be patient if profits haven't come today and keep trying to look for opportunities to make profits. That's what I've learned over the years and not just this week because I know that market conditions will always change and I often make mistakes in my analysis which causes me not to be able to get a good time to enter the market. And this makes me have to be patient, waiting for the time to buy or sell but I don't give up because that's the process. As long as we enjoy going through the process, we can survive and benefit. I personally, learnt to always take profit.
November 16, 2022, 08:45:25 AM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Take profit is very important to avoid greed, even if the market falls, we still have the advantage of what we do by always taking profits at the beginning. Nothing is certain in this cryptocurrency space and zero tolerance, once we are late, bigger losses will be ours.I personally, learnt to always take profit.
I personally always take profits at the beginning to anticipate bad things that will happen, although sometimes I feel sorry when I see prices going up, but that regret will not be comparable to our regrets when we suffer losses due to our own greed.
November 15, 2022, 11:52:05 PM
Well over the years I have leaned to not trust Crypto influencers. I see some of the crypto influencers out there but I’m not impressed and I don’t fall for it anymore. From what I can tell, they’re in it for the quick paycheck and I try not to pay attention and just tune it out.
I mean look at Kim Kardashian with EthereumMax for example, that was a land mine and I’m just glad I avoided it. You have to be careful with where your getting your financial advice and at the end of the day I don’t trust the influencers out there.
I mean look at Kim Kardashian with EthereumMax for example, that was a land mine and I’m just glad I avoided it. You have to be careful with where your getting your financial advice and at the end of the day I don’t trust the influencers out there.
November 15, 2022, 11:33:34 PM
Isn't that like, the basics you should know before even trading? And the lesson that FTX showed this week (and the past) has always been a lesson most people have advocated here, to not use exchanges as your wallets. Another idea was to not invest in sht coins that don't have value, you don't want to invest anything that relies solely on "trust" as its backing.
Understanding the market as well is always good, FTX users panicking and selling their coins inevitably led to the market dipping a bit in the past week, if you were able to foresee that after the initial FTX issue release then you can profit off of it by shorting these past few days.
Understanding the market as well is always good, FTX users panicking and selling their coins inevitably led to the market dipping a bit in the past week, if you were able to foresee that after the initial FTX issue release then you can profit off of it by shorting these past few days.
November 15, 2022, 10:59:00 PM
The lesson learned in the crypto market is that,
- Not your keys, not your coins. Exchanges are not perfectly safe.
- Don't put all your eggs in one basket, diversify your funds to invest in different projects.
- Never be greedy in the crypto market, always be vigilant.
November 14, 2022, 03:57:25 AM
Lesson I learned from Luna and FTT? Dont ever trust a token that has no real usecase, this two projects that collapsed earlier has no solid usecase and they just earned money buy minting nonsense token/coin and making it as a collateral, yeah thats how easy for them to earn billions of dollars but unfortunately its also too easy for them to get bankrupt in just 24 hours.
November 14, 2022, 03:41:05 AM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
For me personally the lesson is to always have stable assets and always withdraw assets from a centralized exchange to a cold wallet if you don't want to trade. Then it's wise to use a centralized exchange only when you want to buy and after that you don't want to sell then the solution is to withdraw everything. Don't let your assets stay there any longer. If you are a trader or investor, always pay attention to issues that have the potential to destroy prices so that you are quickly alert in securing assets. I personally, learnt to always take profit.
November 14, 2022, 03:28:54 AM
Always be sensitive and alert to take profit, always have your coin in cold wallet as said not your key not your coin or money.
Always go for news because any information neglected might gets you a great lost typical example is FTXs current sentiment cause serious fund in the market today although the effects didn't aroused immediately but was dug out past week which is something very common with cryptocurrency.
Hold tight and if possible you still have a better chance to buy more and get ready for the next moved.
Always go for news because any information neglected might gets you a great lost typical example is FTXs current sentiment cause serious fund in the market today although the effects didn't aroused immediately but was dug out past week which is something very common with cryptocurrency.
Hold tight and if possible you still have a better chance to buy more and get ready for the next moved.
November 14, 2022, 03:14:04 AM
To be honest i have not really learned anything from the happenings of the last few days, to be honest i don't really know what can be learned from it.
The dump was unexpected at a time we were hoping price will keep going up. Anyone who said they took profit before it dumped was very lucky to do that. Some people have accused the fight between Binance and FTX for being responsible for the dump going on now. Someone even said bitcoin will go down to $10,000. That will be bad if it happens. What I have learned this week from the market is to be vigilant and stay away from the market when there is news of fraud involving major exchanges or tokens. It has a way of affecting bitcoin price and the entire market capitalisation.
When we expect the price to go up doesn't mean it will go up and Bitcoin's 20% drop in three days is not too shocking, because we all know its volatility can be much worse. I think if bitcoin drops to 10k is a good thing and not a bad thing, you can buy bitcoin for very cheap, well worth the wait.
There are no lessons in the past days because these things have happened before, you should have learned that lesson a long time ago not now. Knowledge of taking profits or not leaving money on centralized exchanges is the basic knowledge you need to know when entering the market.
November 14, 2022, 02:55:36 AM
News of the week? Maybe you already know it. Yep, the FTX incident has made almost all coins or tokens collapse. Except for Chainlink (LINK), Tether (USDT) and USD Coin (USDC). Bitcoin has also experienced a significant drop in price. The cryptocurrency sector as a whole has suffered from the collapse of several lenders and hedge funds.
This week's big trouble in the crypto industry has left some wondering if there is a bubble in the industry. Several crypto exchanges have failed, including the main one is FTX, which filed for bankruptcy.
There is also significant pressure on the crypto market from rising interest rates prompting investors to sell risky assets. Indeed, nothing is safe in crypto, at least now it can be an experience not to store all your assets in CEX or DEX.
This week's big trouble in the crypto industry has left some wondering if there is a bubble in the industry. Several crypto exchanges have failed, including the main one is FTX, which filed for bankruptcy.
There is also significant pressure on the crypto market from rising interest rates prompting investors to sell risky assets. Indeed, nothing is safe in crypto, at least now it can be an experience not to store all your assets in CEX or DEX.
November 14, 2022, 02:32:36 AM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
You should learn it in the first place, when you first bought your coin, it always been buy low sell high, or HODL until you are in a profit, we are always talking about profit, whether we are in a bear or a bull market, but on top of that invest on something worth investing you will never realize profit until you learn how to choose the right coin to invest and how to build a good portfolio, there's money to be made on a bear and in bull, timing is everything.
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