Topic: ONE MAJOR LESSON LEARNT SO FAR THIS WEEK FROM THE CRYPTO MARKET 😥 (Read 536 times)
December 05, 2022, 10:58:51 AM
We are still very early. Hope THIS MESS won’t take place in future when the industry is mature enough.
November 23, 2022, 03:06:52 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Taking profit has always been advised in the industry as this is a very volatile market that one minute we could be in a bullish trend and the very next minute things change. We have very vulnerable investors in the market which is why things move so quickly. Emotions are all over the market even though it has been advised against entering the market with emotions. We have traders with no experience which are just gambling on how the market will go and they open position that they can't withstand the pain if they were to lose.
The market has made it seems like you go big or go home, everyone wants to hit it big one time and this is reflecting on the market as the charts are unhealthy and making things difficult for traders that read the market with charts.
November 23, 2022, 01:49:03 PM
lesson I got
1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
All of those lessons are important but the third one is critical, it is important to remember that no one knows everything and with this in mind we need to always be open to learn about new things, this is especially true when it comes to scammers a they are always coming up with new ways to scam people and if you are not aware of how it works then you may get scammed by them, unfortunately those which may need to listen to this advice the most are probably the ones that are the least likely to hear it. 1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
November 21, 2022, 06:59:55 PM
What lesson did you learn from the market this week?
I personally, learned to always take profit.
Not only this week but along my journey in this crypto world:I personally, learned to always take profit.
- Never be greedy, always take profits as targeted or at the right time
- Use SL if we are daily traders
- Not panic about FUD, stay wise and calm to think and consider what's best to do in certain conditions.
- Never trust anyone that rise the hype and suggest you hold certain new projects because commonly, they only want to rise the hype, take profits, and deceive us by leaving us with our holding tokens.
- Always analyze and watch the market movement if the rate that we target is almost reaching, for, we may probably lose our only chance to take profits if we expect too high.
November 21, 2022, 06:05:33 PM
Always Keep your fund safe don't connect your wallet to any Unknown website check the Authentication of that website always
Don't trust on any Centerlized Exchange even if it is Binance or any top exchange
Just purchase a hardware wallet for storing your funds for the long run
Ultimately knowledge is everything so try to gain more knowledge from other opinion and implement it
Don't trust on any Centerlized Exchange even if it is Binance or any top exchange
Just purchase a hardware wallet for storing your funds for the long run
Ultimately knowledge is everything so try to gain more knowledge from other opinion and implement it
November 20, 2022, 06:59:35 PM
Some important lessons can be learned during this month
- Storing money in cex was stupid choice
- Try to take profit once market is recovery a little bit
- Try to be patience when bearish market is still stay here
- people must never try to trust centralized entity so much.
- Lending platform was the garbage platform that can dead instantly
Lots of lessons have come but it seems people never try to learn it. So many people keep even sending their money to the lending platform which has been playing shady with the customer funds and liquidity. i hope that people will be learned a lot from the last case happened with FTX that was affecting so many defi.
- Storing money in cex was stupid choice
- Try to take profit once market is recovery a little bit
- Try to be patience when bearish market is still stay here
- people must never try to trust centralized entity so much.
- Lending platform was the garbage platform that can dead instantly
Lots of lessons have come but it seems people never try to learn it. So many people keep even sending their money to the lending platform which has been playing shady with the customer funds and liquidity. i hope that people will be learned a lot from the last case happened with FTX that was affecting so many defi.
November 20, 2022, 06:44:15 PM
even the coin that's among the highest ranked could just lose their value in the blink of an eye, this has occured twice and I don't think everyone will have the same faith to these highest ranked coins like before since it could literally make you broke in just short moments, I'd say diversification of the investments is the only thing that could save your investments in this tough times, after all with diversification, if one of the coin is crashing there are still many coins left that could potentially go up in value.
November 20, 2022, 06:31:14 PM
lesson I got
1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
November 20, 2022, 04:55:41 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Take profit? or take out your coins from centralized exchanges because you don't know when they are going to collapse like FTX.
I think it is better to learn both
. Take profit and take your fund out of the centralized exchange in order to avoid the same experience the FTX clients had.So create a wallet that you have total control of, have the keys, and save it. Others will say that just leave enough in an exchange for your trading, for me if I have more than $100 then I will withdraw it immediately just in case.
Same here, I'd rather spend the money elsewhere than leave it in an exchange and get stuck due to an exchange getting hacked, getting bankrupt or turning rogue and scamming their client.
And for investments, just be careful on shitcoins and meme coins as they could be devalued or lost their worth very quick.
I agree, even though profit in these altcoins can be life-changing, the risk involves is also life-changing if we get all in and failed to calculate the risk involved and got scammed.
November 20, 2022, 04:20:01 PM
It's true that it really damages CEX's reputation, it requires transparency from the exchange regarding the storage and allocation of the investors' funds they hold. Also remember that DEX also has several weaknesses that can make investor funds get hacked too. It's better to be wise and diversify
I think I learned that proper regulation on centralized exchanges must be implemented. As you said, fund transparency is a must. An exchange should be audited at least once a year in order to verify the reserve funds if it is 1:1 to the clients funds. That way exchange users will have a peace of mind and their balance is available anytime they wanted to withdraw. I also agree to not put our money in one basket. Diversification is one of the key to avoid a total lose when our investment doesn't do well.
November 20, 2022, 02:52:06 PM
Don't keep all your funds in one exchange, diversify your coins and diversify your exchange. Provide stablecoins to hold more when the price drops drastically and becomes a discount price, because that's a good time to enter bigger profits
The lesson we learn is that though crypto industry is developing very fast but still far from maturity so stay away from centralized exchanges until they are properly regulated and scrutinized to protect investor's fund.
This incident has massively damaged the reputation of all centralized exchanges and people to think twice/thrice before they transfer their funds in any exchange including Binance which is top rated exchange. People didn't like the role CZ (Founder & CEO of Binance) played; in the beginning he came up with rescue plan but later he backed out.
Conclusion: Though this fallout is a pain for the short term for the whole crypto industry, but I think it is good for the long term because more regulation will definitely come out now to scrutinize the crypto holding companies.
It's true that it really damages CEX's reputation, it requires transparency from the exchange regarding the storage and allocation of the investors' funds they hold. Also remember that DEX also has several weaknesses that can make investor funds get hacked too. It's better to be wise and diversify
November 18, 2022, 10:08:44 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
That is a lesson you can learn from any other dump we have witnessed in the market in the past, so while important I do not think it is related to the events that occurred this week, a more important lesson is to always keep your coins in a wallet only you control, because as we have seen no exchange no matter how big or how good is their reputation is worth of that trust, as they could always collapse out of nowhere and then make you lose all your money with no chance of ever recovering it.I personally, learnt to always take profit.
November 18, 2022, 12:14:12 PM
To @OP and everyone.
Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
Simply know your satisfaction as a player. Taking profit won't be easy if you're on that drive of playing. Whether it id greed or not, it will be hard to stop in an instant. Your satisfaction as a gambler and investor would determine when to stop. Taking profit is a problem to many gamblers because they are wanting for more. Who's not in need of money by the way?Since the market prices of not only Bitcoin but to most of the cryptocurrencies are having a hard time, selling won't be not advisable for those who can,'t afford standing the situation without the idealisation of profit. Eversince I got here' if you more than 3mos,can emember it correly, Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
November 18, 2022, 10:16:31 AM
I personally, learnt to always take profit.
I myself believe in the principle of always take profit. Because I don't like to wait if there is a profit from my investment whether it is less or more. A good opportunity came this week to make some profit. The market was dumped a lot this week. So I invested some USD and then sold when the market pumped again.Bitcoin on the other hand is super valuable and will grow beyond ATH again, its only matter of time, when the time comes that will happen and you will want to hold some bitcoins when that time comes, or you will be upset.
November 17, 2022, 09:13:21 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Trust no one in the crypto world, not your keys, not your coins.
Do not invest all funds in the same project, diversify investment andtaking profits is a must.
November 17, 2022, 07:37:12 PM
The recent negative events in the cryptocurrency industry have taught me that we cannot always put our faith in projects that appear to be solid, reliable, secure, and so on. You should be alert to any new data, shifts, or warning indicators, no matter how vague they may seem. No one can be trusted, let alone centralized projects. Keep vigilance; protect yourselves at all times. Here, we can afford to slack off and yet come out ahead. You should be prudent with your finances because we can't predict when awful things will happen and must always be ready for the worse.
November 17, 2022, 04:11:02 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Take profit? or take out your coins from centralized exchanges because you don't know when they are going to collapse like FTX.
So create a wallet that you have total control of, have the keys, and save it. Others will say that just leave enough in an exchange for your trading, for me if I have more than $100 then I will withdraw it immediately just in case.
And for investments, just be careful on shitcoins and meme coins as they could be devalued or lost their worth very quick.
November 17, 2022, 03:21:22 PM
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!
Not your keys, not your coins is a familiar phrase and we are always being reminded about that because FTX isn't the first crypto exchange that have collapsed but we have the legendary Mt.Gox and other smaller ones. This was still a good reminder though in case some of us forget it already and serves as a lesson for those who are new in here.The number one thing that matters in the cryptocurrency space is self-regulation. Never put all your eggs in one basket, Take profits!
Another lesson would be is to not trust or invest in exchange tokens because they are too shady and many of us mistaken it as a good investment because they only based on the reputation of the exchange but that is wrong. We shouldn't judge those exchange tokens that way when we don't know their full story.
November 17, 2022, 03:08:39 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
That is a lesson you can learn from any other dump we have witnessed in the market in the past, so while important I do not think it is related to the events that occurred this week, a more important lesson is to always keep your coins in a wallet only you control, because as we have seen no exchange no matter how big or how good is their reputation is worth of that trust, as they could always collapse out of nowhere and then make you lose all your money with no chance of ever recovering it. I personally, learnt to always take profit.
November 17, 2022, 02:52:27 PM
To @OP and everyone.
Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
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.
November 14, 2022, 01:12:26 AM
Don't keep all your funds in one exchange, diversify your coins and diversify your exchange. Provide stablecoins to hold more when the price drops drastically and becomes a discount price, because that's a good time to enter bigger profits
The lesson we learn is that though crypto industry is developing very fast but still far from maturity so stay away from centralized exchanges until they are properly regulated and scrutinized to protect investor's fund.
This incident has massively damaged the reputation of all centralized exchanges and people to think twice/thrice before they transfer their funds in any exchange including Binance which is top rated exchange. People didn't like the role CZ (Founder & CEO of Binance) played; in the beginning he came up with rescue plan but later he backed out.
Conclusion: Though this fallout is a pain for the short term for the whole crypto industry, but I think it is good for the long term because more regulation will definitely come out now to scrutinize the crypto holding companies.
November 13, 2022, 06:37:55 PM
The major lesson this week is not to leave your funds on exchanges, exchanges are not made to be banks. Not your keys, not your coins. Another thing, there is no huge company when it comes to bankruptcy. Every company has its rise and fall, the only question is when.
And always look at the history of the cryptocurrency market, it may give us hints on what lies ahead.
And always look at the history of the cryptocurrency market, it may give us hints on what lies ahead.
November 13, 2022, 06:01:37 PM
(.....)
I personally, learnt to always take profit.
Exactly! Especially if you are trading, taking profits is a must. And if you are an investor and the reason why you invested is that you have a goal in the future especially to multiply your money so you can't achieve it without taking profits.I personally, learnt to always take profit.
There are lot of people that always regretting that they are not taking any profits along the way and they always ended up losing or bankruptcy.
"Don't marry your altcoins".
November 13, 2022, 05:55:32 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Last week i actually used something i've learned before. That is "Don't wait FUD to blow over if there's too much of it. Always act swiftly, because if you don't, others will."I personally, learnt to always take profit.
This saved me a ton of money this week. And i haven't still bought back in as i am waiting for markets to go down another leg. I know that's not a popular opinion but i don't really care. I rather have what i have now then buy any alts right now. Maybe next week is better, or after when ever the next crash happens.
November 13, 2022, 05:41:18 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
What I learned this week is:
1. Don't be 100% sure of a project, take profit and leave it for the project.
2. In a bear market it is better to hold stable coins.
3. Don't put all your eggs in one basket.
November 13, 2022, 05:01:47 PM
The biggest lesson to be learned is that CEX is now an outcast for the cryptocurrency industry. After this time, definitely not to invest in exchange platforms operating in that area. The most important thing is to not trust anything in the cryptocurrency market. The markets are changing direction so hard and wearing out that we are all losing a lot of money. I have been in the crypto money industry for years, sometimes I made money, sometimes I lost money. But I have never seen a bear season where money was lost in such a devastating way. We are in the middle of the era when they officially say that elephants chew and rats are trampled.
November 13, 2022, 03:47:31 PM
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.
November 13, 2022, 03:05:13 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
Yeah aside from just taking profits, I learned to stay away from social media if you were reading cryptos too much. A lot would surely shill the crap out of their shitcoin just to take advantage of the market we got right now.I personally, learnt to always take profit.
Twitter is one of the sites I would really avoid right now. Considering the trending of "#cryptocrash" yesterday from my feed, I know there would be surge of millions of "experts" in crypto so sudden.
November 13, 2022, 02:48:43 PM
No CEX should be trusted with 100% , Take profit like a thief, convert some of your earnings to fiat to take care of yourself, learn before you venture into anything (DON'T FOMO).
November 13, 2022, 01:50:58 PM
What I learned this week is :
1. Don't trust any centralized exchange.
2. Watching the market from afar in the Panic situation.
3. Buy a hardware wallet as soon as possible.
1. Don't trust any centralized exchange.
2. Watching the market from afar in the Panic situation.
3. Buy a hardware wallet as soon as possible.
November 13, 2022, 01:00:22 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
The lesson we learned from the sudden collapse of LUNA and FTX is that, your funds are always at risk in Centralized exchange wallets & they are not reliable, no matter how big the exchange is. This is the reason Investors are switching their funds to Decentralized exchanges (DEX) which is evident from price increase of native tokens of UNI, TWT, DYDX, DOD & SFP.
https://www.coingecko.com/en/crypto-gainers-losers?time=h24
November 13, 2022, 12:05:16 PM
The biggest lessons I've learnt in 2022 about crypto is....
Never trust any centralised exchanges with your coins and tokens.
Buy a hardware wallet, it's safer for storing coins than other ways.
Dex exchanges are safer than Centralised exchanges.
Centralised Finance, lending and collateral assets are all nonsense.
Never trust any centralised exchanges with your coins and tokens.
Buy a hardware wallet, it's safer for storing coins than other ways.
Dex exchanges are safer than Centralised exchanges.
Centralised Finance, lending and collateral assets are all nonsense.
November 13, 2022, 08:57:36 AM
What lesson did you learn from the market this week?
One lesson that i have learned from so many incidents that happened during the week was never try to believe your money to the cex anymore. There are so many scumbag in the internal of cex itself. FTX must have told you a lot about this. Storing money in cex was the worst thing that has ever done by so many people. The most important lesson that already shown by cex about how bad centralized exchange site is. they can ban your account and steal your money through freeze it anytime as they want. it must the main thing to avoid centralized exchange site. November 13, 2022, 07:33:04 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.
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. Maybe that a hefty dump of the whole crypto space can come pretty much out of nowhere at any given time, as for me that whole stuff happened completely unexpected. In general i agree that you should always take some profit with you once your investments are in the profit zone and that you should never be to greedy. That being said i am not sure if that advice or principle can be applied to the current situation. I mean we were in a bear market even before that dump.
November 13, 2022, 07:32:17 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.
How about not your keys, not your coin, what happened to FTX recently is clear evidence that we should not keep our coins in exchanges, and yet many people still fall for this, custodial is the last wallet that you should store your coin and you must have a good reason why you choose a custodial wallet, I hope those FTX traders can still withdraw their money there's a lot of complaints about their coins stuck to this exchange.
November 13, 2022, 06:22:00 AM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
This week only? Always avoid overtrade or do some trade if you are confident to predict the possible move. If you are spot trading of course youll entry on a good pullback and might have a good reentry. While if future or margin trading, must be vigilant of possible market movement. I personally, learnt to always take profit.
November 12, 2022, 11:15:00 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
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