One of the peculiar attributes of most crypto enthusiasts is selling out of panic. Whenever this happens, it is accompanied by some flaws and setbacks. Reasons why you should avoid selling out of panic are:
1. Dump in price - Sometimes, it does not affect the price of the coin you are dumping alone, it can also affect the general market prices coins, most especially when there is massive dump of prominent coins such as, bitcoin, ethereum and so on.
2. Loss of Investment - you are likely going to loose your investment, because most times, when you panic sell, you sell at lower prices than required. Your profit might be affected, so also your invested capital.
3. Attack on blockchain technology - it might call on attacks on blockchain technology from different quarters. You begin to see people spread more negative news about blockchain and cryptocurrency. For instance, people may begin to talk of crash, scam and so on.
4. Emotional Imbalance: panic alongside the accompanying losses might lead to emotional imbalance in some investors and afterwards the resulting effect on health, such as hypertension and other health implications.
Some people attribute FUDs and perhaps regulations to most of these flaws, which are not. Even though there are FUDs being spread, if we do not panic, the crypto space will be a safe haven for investment.
How many proposed regulations these days have really been implemented? So, why are we bothering ourselves? Some countries such as China, that even succeeded in some of their regulations, does not seem to avoid the crypto world in entirety.
Those who cause panic mainly know that most people cannot control it. Which is why those who take advantage of it, use it as a weapon in the crypto space for their gains.
Note:
I am not telling you not to sell whenever you notice there is going to be bearish market, but take your time to relax and think about it, make your calculations and if you are sure there will be bearish market, sell and buy back when you are also sure it is low enough.
Many people experience failure in their investment because when they see the market fall and fall back they will start to be confused and panicked, afraid that they will get a bigger loss so they choose to sell it. But, I think before making a better decision to observe the market for some time and analyze whether holding it will benefit later or it's better to sell it.1. Dump in price - Sometimes, it does not affect the price of the coin you are dumping alone, it can also affect the general market prices coins, most especially when there is massive dump of prominent coins such as, bitcoin, ethereum and so on.
2. Loss of Investment - you are likely going to loose your investment, because most times, when you panic sell, you sell at lower prices than required. Your profit might be affected, so also your invested capital.
3. Attack on blockchain technology - it might call on attacks on blockchain technology from different quarters. You begin to see people spread more negative news about blockchain and cryptocurrency. For instance, people may begin to talk of crash, scam and so on.
4. Emotional Imbalance: panic alongside the accompanying losses might lead to emotional imbalance in some investors and afterwards the resulting effect on health, such as hypertension and other health implications.
Some people attribute FUDs and perhaps regulations to most of these flaws, which are not. Even though there are FUDs being spread, if we do not panic, the crypto space will be a safe haven for investment.
How many proposed regulations these days have really been implemented? So, why are we bothering ourselves? Some countries such as China, that even succeeded in some of their regulations, does not seem to avoid the crypto world in entirety.
Those who cause panic mainly know that most people cannot control it. Which is why those who take advantage of it, use it as a weapon in the crypto space for their gains.
Note:
I am not telling you not to sell whenever you notice there is going to be bearish market, but take your time to relax and think about it, make your calculations and if you are sure there will be bearish market, sell and buy back when you are also sure it is low enough.
