Reasons for newbies loss in bitcoin - page 13.

bryant.coleman

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Quote from: qwertyup23 on July 25, 2021, 07:25:44 AM

The problem with most newbie investors is that they receive the information falsely- they do think that investing into cryptocurrency is an 'easy-way out' which provides an absolute formula of getting rich.

Back in the last quarter of 2017, the price of bitcoin skyrocketed from $5,000 to $18,000. Most newbies and new investors jumped on that bandwagon and invested during the peak of its price. When its price dropped on 2018, those investors loss significant amount of money and they disseminate false information about BTC being a scam investment, etc.

So before you invest, understand first its technology and history. Purchasing an investment without even knowing what you are investing on is tantamount to digging your own grave.

It will be wrong to put all the blame on the noobs. I can understand their perspective. The media hypes Bitcoin (and the other cryptocurrencies) whenever there is a bull run. This is the time when a lot of the new users decide to make their investment with BTC. Unfortunately, this means that when they make their investment, the prices will be close to ATH levels. And when the correction phase starts, the mainstream media will just reverse their stance. They will publish articles such as "Will Bitcoin become worthless?" or "Is Bitcoin the biggest Ponzi scheme ever invented"... once again, the noobs will be influenced by this and they will do panic selling. This cycle repeats every 3-4 years.

qwertyup23

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Reasons number one and number three are probably popular. newbies when entering the market don't have sufficient knowledge, but want to make money quickly, make a lot of money in a short time. They don't know that scammers are lurking around waiting for them to put in evil scams.Besides, panic will also cause newbies to lose money with FUDs, market fluctuations because whales are trying to manipulate the market.

The problem with most newbie investors is that they receive the information falsely- they do think that investing into cryptocurrency is an 'easy-way out' which provides an absolute formula of getting rich.

Back in the last quarter of 2017, the price of bitcoin skyrocketed from $5,000 to $18,000. Most newbies and new investors jumped on that bandwagon and invested during the peak of its price. When its price dropped on 2018, those investors loss significant amount of money and they disseminate false information about BTC being a scam investment, etc.

So before you invest, understand first its technology and history. Purchasing an investment without even knowing what you are investing on is tantamount to digging your own grave.

osasshem

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At the early stage when I got into the crypto world, and when Bitcoin was springing up by gaining bit by bit popularity, was when these Ponzi schemes and get rich quick came up. These things made the losses of newbies got so high, and many people tagged Bitcoin to be a scam as at then. Now, the anxiousness of quick rich is what is making newbies fall into the set trap.
Looking at the part of FUD and FOMO in the crypto system made by some whales and big crypto holders to create room for a hug dump and which they use in filling up their bags was a technic they derived when the populace in the crypto world was growing. Now, the rise and fall of price in the market is now the way which whales and big crypto holders use to fill in the bags, and we call this price correction, which to an extent is correct, but the real conspiracy behind it is manipulated by the whales which new investors use as a means of coming in at the lows.

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Quote from: taufik0911 on July 24, 2021, 05:47:38 PM

Newbies usually haven't trained their mentality to deal with loss situations so they won't be emotionally stable
besides that the lack of education and training to trade and invest in cryptocurrencies which is lacking also causes them to lose plus cryptocurrencies are very unstable unlike forex

Most newbies are not prepared because they are not yet used with the market.

The market swings are giving pressured emotiom which leads to complex reaction of the market. Without much education in the market makes them not equipped to take risks.

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Quote from: blackened515 on July 24, 2021, 12:46:19 PM

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Due to lack of information about cryptocurrency. For example, they buy at a high price and then the market suddenly crashes, they panic selling and they sell it at a loss.

Most of them don't research about bitcoin before getting into it. They don't have the necessary information. For someone to excel in Bitcoin trading, you must have a good strategy, know when to buy and when to sell.

A lot of newbies by mere hearing the word bitcoin jumped into it with a mindset of beginning rich overnight out of greed thinking once you invest in bitcoin you can become a millionaire overnight sighting early adopters as example they don't necessarily care to learn or acquire all the necessary information about bitcoin, not knowing that there are facts that must be taken into considering before delving into bitcoin which is knowing all the basic stuffs that are very compulsory and mandatory, it is quite unfortunate that a lot of them got disappointment after buying at peak unfortunately the price got dumped having not considered that it is highly volatile assets thus incurred losses invariably they will suddenly start to paint cryptos in a bad light saying it is a Ponzi scheme and MMM etc a first timer in any business is expected to learn through the rope and build confidence on it.

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The first point is the thing that I often encounter, not only newbies, even people who have been in cryptocurrency for quite a long time also still have such greed, make him take personal assets to invest, eventually lose, and end up making him poor. Trading cryptocurrencies should not be greedy, it makes us lose more.

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Quote from: Yamifoud on July 24, 2021, 05:56:17 PM

Quote from: taufik0911 on July 24, 2021, 05:47:38 PM

Newbies usually haven't trained their mentality to deal with loss situations so they won't be emotionally stable
besides that the lack of education and training to trade and invest in cryptocurrencies which is lacking also causes them to lose plus cryptocurrencies are very unstable unlike forex

Either it was in forex or crypto trading without the knowledge on how to trade will simply bring us losses in the end. And these newbies become prone to this because they are still learning but once they know exactly how this trading works, they will be changing and they will be careful with their trades. That is why they call newbies as their knowledge and skills are still limited but soon they will grow up and they will understand the situation.

Basically newbies are not people who are weak in the efforts they make, they will certainly continue to explore the knowledge that they must learn with discipline when they have real intentions in their efforts.
Overall, not all newbies have more chances of losing their bitcoin, than what happened and experienced while trading on cryptocurrencies, it is possible that they will be mastering it even more.

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Quote from: taufik0911 on July 24, 2021, 05:47:38 PM

Newbies usually haven't trained their mentality to deal with loss situations so they won't be emotionally stable
besides that the lack of education and training to trade and invest in cryptocurrencies which is lacking also causes them to lose plus cryptocurrencies are very unstable unlike forex

Either it was in forex or crypto trading without the knowledge on how to trade will simply bring us losses in the end. And these newbies become prone to this because they are still learning but once they know exactly how this trading works, they will be changing and they will be careful with their trades. That is why they call newbies as their knowledge and skills are still limited but soon they will grow up and they will understand the situation.

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Newbies usually haven't trained their mentality to deal with loss situations so they won't be emotionally stable
besides that the lack of education and training to trade and invest in cryptocurrencies which is lacking also causes them to lose plus cryptocurrencies are very unstable unlike forex

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Quote from: Slow death on July 24, 2021, 03:44:55 PM

first of all we have to ask ourselves why do people buy bitcoin?

1 - do people buy bitcoin to use as a means of payment? I don't think so, at least most people aren't buying bitcoin as a means of payment.

2 - are people buying to make hodl? and why would they be doing hodl for so long if they don't aim to make a lot of money? This is where all the answers come from, people are doing hodl because they want to make a lot of money... Of course, when there's a 50% drop, hopes end and there's panic selling

Newbies lose from their investments because they don't know what they are doing exactly. They tend to make decisions without setting a target goal so in the end, they still come up committing losses. And the biggest factor that makes them a big loser is that they think bitcoin as a way to be an instant rich. Well the fact that there's no instant in reaching your success, same with bitcoin you still have to endure more time and effort and a long rope of patience and knowledge just to get there.

Slow death

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first of all we have to ask ourselves why do people buy bitcoin?

1 - do people buy bitcoin to use as a means of payment? I don't think so, at least most people aren't buying bitcoin as a means of payment.

2 - are people buying to make hodl? and why would they be doing hodl for so long if they don't aim to make a lot of money? This is where all the answers come from, people are doing hodl because they want to make a lot of money... Of course, when there's a 50% drop, hopes end and there's panic selling

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Quote from: batako on July 24, 2021, 01:13:24 PM

Point #2 is the main point for newbie to be fail in investment. As new comers they only have one point of view, namely price increases. And when the market moves against them, they don't know what to do and tend to panic and eventually sell their assets cuz of the fear of further losses if they keep their coins on their own wallets. Over time, they will surely realize that it takes a tested mentality when it comes to investing in cryptocurrencies that tend to fluctuate.

^ There is no loss if they will not sell their BTC and should keep holding even, whatever happens, the problem is that these newcomers are not aware of how BTC price or the entire crypto market works. All they have to know is investing in crypto or in BTC is a simple task, just buy and wait for the massive increase but they don't know that the crypto market will not always increase in position, sometimes it will go down and this is what we called volatility which is probably they don't know. Once seeing the market started in a red color they began to panic and when it comes to the point of sell, it will not always credited.

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Quote from: randegibran on July 24, 2021, 03:17:01 PM

they don't understand bitcoin at all and how it works which really takes a lot of time for a result, so they tend to be instantaneous and trust people who can double their coins very quickly with such a large income in a short time, so they don't realize that their bitcoins have disappeared a lot, so in our business affairs, don't easily trust anyone because there are many people who want to do evil to us

Not only in crypto world but also into the traditional market or things that we had experiencing as of this moment on where there are people who are really opportunist and would scam out people for their own good.

This isnt something that you should be surprised because majority of newbie mistakes would really be particularly spot on being greedy and laziness on learning up new things and in depth realization on how this

market works until they do experience the real situation and would realize on to those wrong doing or believe that they do have earlier.

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Quote from: randegibran on July 24, 2021, 03:17:01 PM

they don't understand bitcoin at all and how it works which really takes a lot of time for a result, so they tend to be instantaneous and trust people who can double their coins very quickly with such a large income in a short time, so they don't realize that their bitcoins have disappeared a lot, so in our business affairs, don't easily trust anyone because there are many people who want to do evil to us

That's what #1 indicates.

Quote from: blackened515 on July 24, 2021, 12:46:19 PM

Most of them don't research about bitcoin before getting into it. They don't have the necessary information. For someone to excel in Bitcoin trading, you must have a good strategy, know when to buy and when to sell.

And for someone to excel in bitcoin, he can also stay as a holder. He's going to excel through profit without such effort as long a he's aware of bitcoin's ups and downs.

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number 1 is the main point that beginners can think very short. even though I think getting rich from bitcoin requires a lot of processes not just overnight and it's the wrong strategy to get quick profit from bitcoin without knowing the right goal

randegibran

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they don't understand bitcoin at all and how it works which really takes a lot of time for a result, so they tend to be instantaneous and trust people who can double their coins very quickly with such a large income in a short time, so they don't realize that their bitcoins have disappeared a lot, so in our business affairs, don't easily trust anyone because there are many people who want to do evil to us

batako

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Point #2 is the main point for newbie to be fail in investment. As new comers they only have one point of view, namely price increases. And when the market moves against them, they don't know what to do and tend to panic and eventually sell their assets cuz of the fear of further losses if they keep their coins on their own wallets. Over time, they will surely realize that it takes a tested mentality when it comes to investing in cryptocurrencies that tend to fluctuate.

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Quote from: blackened515 on July 24, 2021, 12:46:19 PM

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Due to lack of information about cryptocurrency. For example, they buy at a high price and then the market suddenly crashes, they panic selling and they sell it at a loss.

Most of them don't research about bitcoin before getting into it. They don't have the necessary information. For someone to excel in Bitcoin trading, you must have a good strategy, know when to buy and when to sell.

They take it at a high price, indeed it is a risky thing, especially not having a strong analysis of how durable the pump is in this skill. This is indeed a must because trading needs analysis to be right on target, but for newbies it is not a problem because it is part of the beginning. maybe after the next day they will know when to come and buy it.
As long as you never follow someone who suggests buying coins something that doesn't exist in the news.

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Quote from: blackened515 on July 24, 2021, 12:46:19 PM

Quote from: ?? on ??

Due to lack of information about cryptocurrency. For example, they buy at a high price and then the market suddenly crashes, they panic selling and they sell it at a loss.

Most of them don't research about bitcoin before getting into it. They don't have the necessary information. For someone to excel in Bitcoin trading, you must have a good strategy, know when to buy and when to sell.

Even if you do understand how trading works that is no guarantee that you catch the right moment to invest and sell and it depends on the news that is currently circulating in the news sites which can effect the price by a lot just look at the Tesla news recently and how big of a impact that had on the price of Bitcoin.

blackened515

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Due to lack of information about cryptocurrency. For example, they buy at a high price and then the market suddenly crashes, they panic selling and they sell it at a loss.

Most of them don't research about bitcoin before getting into it. They don't have the necessary information. For someone to excel in Bitcoin trading, you must have a good strategy, know when to buy and when to sell.

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