Topic: Some important tips about the bitcoin market (Read 961 times)

Everyone said that they would list a lot of investment experience. Many are applicable to everyone.
Not everyone can do it according to experience. Any investment is risky.
Don't invest all your money.
Learn to stop losses in time.
I admire people who can control their emotions. Don't invest with emotion in investing.

Before jumping into bitcoin investment, make sure you are prepared for it and that you have already gained knowledge and positive experiences so you will be motivated to do the right thing. Bitcoin investment is definitely risky but if you know how to take the ride, then it will all worth the risk.

Once you're already into profits, do not stop there. Buy bitcoin as much as your budget can afford because its the best investment not just at the present but definitely in the future too and thus huge profits is waiting ahead. 

from the umpteenth of these tips have given an idea that we ourselves should not be defeated by our emotions when prices start to fall,, master all market movements anywhere from small or large, therefore we can analyze for ourselves how it will change in the futurefast or not.

Some tips about Bitcoin market:-

Start out Small level,Choose a Secure Wallet,Research on the Market, Decide on a Trading Strategy,be Strict With Profit Targets and Stop-Loss Orders,Diversify With Different Cryptocurrencies,buy and hold Bitcoin, Handle on Your Emotions,aware from scammers, don't make greedy plans and don't panic, have patience. Learn more , don't rely on Other's people decision, active socially.

Newbies are advised not to touch altcoins and contract transactions. Because novices know little about trading technology, it is difficult to independently determine whether a new altcoin has investment value. After the precipitation of time, mainstream currencies are unlikely to suddenly return to zero. Similarly, contract trading also requires traders to master advanced trading techniques, otherwise it is difficult to judge the direction of market trends. Increasing returns also increases the risk of loss. If you really want to open a contract, you must learn first.

A good advice in any situation is that we should buy as much Bitcoin as possible, because the price of Bitcoin will continue to rise and can provide us
big profits. So no need to hesitate to invest in Bitcoin, because how deep the price of Bitcoin goes down, the price will slowly recover and rise again.
But it is even better if we have knowledge of technical analysis of Bitcoin movements, it can make the profit that we generate maximum. Because we
can buy and sell Bitcoin at the right time.

Buy as much as you can? The words will work for the person who didn't have burden behind he's back. The important tips (according to me) is you need to increase your knowledge and experience and try to learn every TA in market.

I would like to change number one because it is a dangerous tip if interpreted wrongfully, I would change it into "Buy what you can afford to lose and not take out when there is an emergency". Another that I like to add is to take all the news in regards to cryptocurrency with a grain of salt because if not then you are susceptible to panic.

During a bull market, buy.
During a bear market, sell.
Bitcoin is in a bear market right now, do not sell.
If you sell, you will lose.

I don't recommend buying bitcoin for novices unless you plan to hold it for a long time.

As a novice, you know nothing about cryptocurrency and bitcoin, which is very dangerous.

If the novice must buy BTC, the market is not good, then do not regret, because that is your own choice, you have to be responsible for your own behavior.

Here 10 Most Important Tip About Bitcoin Market
 
1. Begin with small steps.
2. Choose a Safe Wallet
3. Do Market Research
4. Make a trading strategy decision.
5. Stick to Profit Targets and Stop-Loss Orders Strictly
6. Use Extreme Caution When Using Leverage
7. Use a variety of cryptocurrencies to diversify your portfolio.
8. Buy Bitcoin and Keep It
9. Take Control of Your Emotions
10. Be wary of con artists.

Everyone gets tested once in a while and I think it is better to experience some lessons and make some trading mistakes early on when there is not too much on the line. It helps you learn how to focus on the essentials and stay as rational as humanly possible.

Bitcoin goes up and down so fast I remember back in its early days how mind boggling it was. Totally nervous watching the charts. Not the same these days, very calm hands thanks to my experience from back then.

I'll take into consideration all of the advice you've given except the 1st one, going all-in is not really a good idea. Most people here pointed out that investing the money you could afford to lose and that's true. For me, protecting our capital is the most important thing in trading and we should always keep that in your mind.So always plan your trading and stick to your plan to avoid greater losses on your part.

I really care about sentiments so I always keep an eye on the bitcoin related news. Usually take a look on the 1 year time frame chart and analyze it. Before I was a day trader but I rarely earn profit, but after I decide to change my strategy to long term trading then I keep earn profit. I was surprised that long term trading can be this easy, but of course I sacrifice time and opportunity because I only trade when there are bull or bear market condition.

10 Must-Read Bitcoin Tips
 
     1. Start out Small
     2. Choose a Secure Wallet
     3. Research the Market
     4. Decide on a Trading Strategy
     5. Be Strict With Profit Targets and Stop-Loss Orders
     6. Use Leverage With Extreme Caution
     7. Diversify With Different Cryptocurrencies
     8. Buy and Hold Bitcoin
     9. Get a Handle on Your Emotions
   10. Watch out for Scammers

As a personal strategy, I set a line where I am going to sell my bitcoin, I do not mind the FOMO higher price than what I have sold it because I have needs for the money that will benefit me in the long run. I sort of think of it as diversifying my investments.

Well, the amount of bitcoin to be acquired depend on the investment you have and the time on which you are investing in the market. If you invest at the right time there are chances to get good profit but if you already bought at a higher rate than, chances are that you might not get enough profit .

Bitcoin is not for the impatient types.

You shouldn't advice people to buy what they can and hold if they're patient because nobody knows if they are able to hold until they get tested by a real market winter.

Usually people set goals for themselves and when these goals fail they get frustrated, give up and blame the whole world but not their own stupidity.

1. First of all, you need to decide on the cryptocurrency on which you want to earn money. There is no common rule here, almost any token has the ability to go up sharply, and then just as quickly collapse. A novice crypto investor can only predict these movements with a lot of luck. But you can do something to protect your investments.
At first, it is better to choose a currency that has been around for a long time and is in demand among traders-like Bitcoin or Ethereum. They usually do not grow in price as quickly as altcoins — little-known cryptocurrencies, but it is easier to find a buyer for them if you urgently need to sell tokens.

2. When choosing a cryptocurrency and an exchange, do not get carried away with absolutely fantastically generous offers. Crypt is, of course, a special world, but there is no free cheese here either. If they promise super profits - look for what the catch is.
Typical signs of dubious crypto projects:
- The people identified in the project team have not previously met in the news of the crypto world. In some cases, the project team can even find the faces of famous actors with completely different names — this, however, is quite an outstanding precedent.
- The creators of the cryptocurrency promise a guaranteed profit. Most likely, it is a pyramid.
- The repository with the project code on GitHub is almost not updated. This means that either the project itself does not exist at all, or no one is engaged in it.

3. Crypto wallets are used for storing tokens. And more — save all your passwords and codes that you see when you create and use a wallet. For your own safety, the developers of many wallets show them only once. You can even write them down on paper if you are sure that you will not lose them.

4. It is very important that all your operations with the crypt go through a secure communication channel. If you access the exchange's website via public Wi-Fi, criminals can intercept information about transactions or spoof the Internet page to steal your assets.

1. Buy as many as you can
You are right to buy as many coins as there are, but here there must also be a purchase basis and the potential for whether it will be profitable in the future, if we buy the existing coins wrongly we will experience losses, even though we buy cheap at first

2. Buy on the floor, but don't wait for corrections or falls.
well this is sometimes difficult for me to guess, sometimes I like to be trapped in this time

I don't think that he is talking about the price of bitcoin he's talking about the capital that you use on each one of your trades, it is very common for newbies to use all of their capital on their trades and as soon as they make a mistake they lose so much money that they get desperate and begin to make additional mistakes.

It is way better to begin your journey as a trader or investor with a small amount of money that way if you happen to make a mistake that mistake is not going to be as costly, you're not going to get as upset and finally you are going to learn something from that experience, something which is invaluable in the markets.

When a person's knowledge is already a lot about crypto, then one will not hesitate to invest in bitcoin, as you suggested, of course they will do so,
it's just that the most important thing is to buy bitcoin according to the capabilities of the time, one more thing, it  might  be  better  if a  trader or
investor does not take out a loan to invest in bitcoin, this is the best thing.

Currently bitcoin is doing well and this is the best time to Buy bitcoin which lot's of people think Bitcoin price is too high and they are waiting for correction or dump before they buy, but I will advise you to buy now and don't wait for dump which I believe it won't be possible I don't think Bitcoin will dump now so the next bull run will be massive. So if you are really interested in buying bitcoin I believe this is the right time to bag more and wait for the bull run, Bitcoin will be massive in the next few months don't miss it out. But if you are trading don't trade with emotions if you trade with emotions you will definitely be trading at lose which is very bad as a investor or as a trader.

Many beginners are trapped in bitcoin FOMO without thinking about the risk of losing. It's best if newbies don't put all their money into investing. I say this because I have experienced it in 2017. where I bought a lot of ethereum at the highest price. I had to wait 4 years for the price to recover. and that's a very big risk.

Bitcoin and other cryptos are high risk investment advising a newbie to buy as much as they can is not proper and may be disastrous in the long run especially those buying at the peak, recall in 2017 when bitcoin peaked a lot of newbies bought with massive funds that time at that price while relying on speculations that the price will reached $50K unfortunately the price dumped a lot of them sold with a massive losses, while I agreed with the OP on dealing with emotion when trading because it is big challenge for traders especially newbies.

the first point is heretical advice. buying as much as you can using all your money is stupid. it is a high risk. Better to set aside some money to buy bitcoins and do it more often as long-term savings.

I don't understand what you mean by small level but if I may say, now, in Bitcoin, there is no small level. Just dont wait for it, buy in any chance you get.
And again, you don't have to wait till you save up, $5 dollar Bitcoin now can worth thousands in years to come. Therefore waiting to get enough savings before buying equals to not buying at all. Or even missing out buying with a good price.

Emotional control is a skill that is often overlooked and yet it is one of the most important skills you can have, people worry too much about entry and exit signals and finding the perfect strategy and while there are reasons to worry about that your emotional control is everything, after all even if you have the perfect strategy what is the point if you are not going to follow it just because you are in panic? At that point all of the research that you made is useless and it would have been better that you dedicated time to improve your emotional control.

However this is not easy because as we know the markets move on emotions and it is easy to let those emotions overwhelm you especially when the market is moving against you.

1. Start from a small level
2. Get enough savings before
3. Learn how to make technical analysis
4. Stay updated with currency news and events
5. Don’t listen to others

It has been 2 times that bitcoin has crashed and then it is pumped, from that experience we should be able to analyze that the right moment to buy is when the price drops dramatically because it will definitely go up again.

7. Don't panic

of us often hear others to buy this coin without any clear news. If there is no good news it is better not to buy it if only a flash pump occurs or we will regret it. However, if we are calm in predicting it will make us profit without having to think about losing.

The most important things in the Bitcoin market:
1. Learn as much as possible.
2. Be careful, because it's easy to fall for scammers and hackers.
3. Be patient. It's very important in this matter because you'll never get a good result right away.

Number 1, you need to know how to manage your money and not buy as much as you can because you will not know when the price will up and down. If you buy using that strategy, you will lose a chance to buy more when the price down.
Number 2, it is better to wait for correction because you can buy the coin at a discount price.
Number 6, you need to manage your emotion in trading, such as panic, because that can cause you to make a rash decision while you do not know the market's real situations.
I am not sure about the other number

Right on point on how the emotional state of a person can influence their trading hand/s. I think, perhaps this is the most important point about trading and going into crypto in general even if it is for long-term holding.

The mind is an important asset, so a good strategies could save you money, stress and LIFE itself.

Investing in bitcoin is taking risks.
The invested capital depending on your possibilities.
Do not abuse your limits when investing.
If you think about bitcoin, you should be aware of its behavior in the short, medium and long term. Because now there is a lot of interest in large investors in bitcoin and they are buying and their mission is to protect their capital for the future.
Relax, do your own safe-site search, and join the party.

The best advice is to ask yourself why I should go to the bitcoin market, the term buy what you can and sell when it is profitable is a premise that unleashes false hopes for newbies who come to bitcoin.

Make it organic buy when you really can and sell when necessary, financial reality forces you, but that's the point, if that happens something is not right in your availability of money to invest, because bitcoin is an investment to long term.

The bitcoin market in its daily trade is open to everyone, but ask yourself first do you have the correct capital, the experience, do you have the ability to accept losses, etc ... not everyone knows how to survive that opening, we must think about our abilities.

Suprisingly but yes the market of bitcoin was currently on an uptrend and its market value were continue climbing to highest ATH. Waiting to buy in the floor price may take quite long but if in case happens it may only corrected in an small amount i guess and another thing to consider was when does this price correction may happen. Well i just have to believe that bitcoin were already known by many huge investors and attracted them to invest in it that's why we couldn't predict when this price correction may take place.

But there is nothing we can do to increase adoption except to be willing to spend our bitcoin, after all only merchants can choose to accept bitcoin on their business and until there is enough demand for that adoption will keep being left behind, also when we take into account the fees that we need to pay every time the network is busy this does not help the popularity of bitcoin as money, we really need for merchants to begin to use the lightning network otherwise bitcoin will never succeed as money due to the large fees and the slow confirmation speed.

Many people talk about only investing what you can afford to lose but except for those that are already extremely wealthy that is an advice no one follows, after all if you are investing all your savings in the markets you cannot really afford to lose it right? At the end you need to take a risk but as long as it is a calculated one then it is fine.

Sure, if you are dominated by emotions, then the reason will not easily give you an advantage to choose.  This does not mean that a benefit is born so that you can immediately gain advantage.  Investing is a long-term plan that requires more than patience to have success in crypto.  My advice is, don't click if you don't have reason and calculation.  Stop lose is always necessary not only in trading but also in investments.  Take your stops and always make the plan available to every situation.

We all need more tips on this one

"Don't put all your eggs in one basket" that's what most of the people said which is really true.

There are a lot of possible source of income besides bitcoin and you should invest on those other coins that progress in the market.

Also, be patient and disciplined about your assets so that you can somehow control your emotions and avoid doing things that will make you regret after.

Buying now is a high risk but if you can manage to handle your funds, it is not a problem. I know that is a good idea to buy at a low price, not during the hypes but you are wasting a lot of time waiting for that moment to come.

Only buy the amount that you are able to lose, that was our goal today. In fact, we have another option to take, altcoins are around us, many of them are potentially profitable. Why we should have to focus on Bitcoin if we can make it to altcoins which is probably of the same results?

Those mentioned are considerably correct and flawlessly understandable for a certain individual specially for the starters to take those advice but remember those comes with a great responsibility and you must attain prior knowledge before doing engagement for the reason that those advices will not possibly work if you certainly do not know what you are doing. Better acquire knowledge first before anything else. Just for clarification, buying as much as you can must have certain limitations that you must know by yourself and that is your capacity based on the funds that you have. Only spend what you can and do not exceed your limitations. Doing all aspects driven by emotions will not create a desirable outcome so better get rid of including emotions on doing decisions and enjoy what you are doing as well as trust the process.

Hold up. Do not buy as much as you "can". Buy if those money you hold are worth losing, OP.
The last number is the guilt of the many actually. Emotional trading is quite common here in crypto and it's unavoidable sometimes. That's most of my weakness back then. Hard to overcome.
Most of the items in the list are "buy on low and sell on high" situation.

I remember when I panicked back then because it felt like recoveries aren't a thing adding up that Bitcoin price is unstable in nature.
I want to add up as well that people shouldn't worship celebrities and their words about something. Being driven by celebrities to do your decision is not a good thing.
Their reputation doesn't tell that they're always right about something.

I think we should really stop focusing so much on buying Bitcoin because what's the point of buying if you have to sell it at some point to actually use it? We need to focus on adoption of Bitcoin as money, and whether it's growing with BTC's growth of popularity. It's also important to address the issues that prevent large-scale adoption, such as very expensive fees which are the case whenever there's high traffic.
And if we're talking about investing, I think that buying only what you can afford to lose is a better advice than buying as much as you can.

Not yet assured of things in this market knowing that the market is volatile in nature. Consistency is lacking in this industry and the market price always has the possibility to fall everytime. Possibility is just possibility and we do not hold any assurance of the next movement. No matter how we want this market to behave in a way in accordance with our own likeness, the market could behave in such way even in the most unexpected way. In my perspective, I am anticipating a downfall, in order to be able to invest more in this industry. The price is too expensive at this moment, and many investors are now anxious of the next movement.

thats why he put it in the number one because it is the best tip among all tips that he numerate . your tip was also noice , i think this is the pitfall of many users because they wait and hope for the fall of the price thinking that they can save but what happens is that they only waited to see the price getting higher  .

the 10k era is gone and we are now in the 40k era , if i were them i will buy now before the 40k era dissapeared and replaced by 50k era .

Based on my experience with bitcoin markets the more you hold and persistence the more you acquire from it. Numerous bitcoin financial backers got data/tips about bitcoin markets, the progression of bitcoin by essentially understanding articles, news, and asking in bitcoin organization. on how the bitcoin market functions and how to acquire benefit .a portion of those bitcoin financial backers recruited a bitcoin master/analyzer with the goal that they will get a high benefit when they contribute more bitcoins.

I think It is pertinent to each perspective of life. It could be a good hone to control feeling day by day because it makes strides your choices in life and doing it on the advertise will donate you great comes about. I accept that most crypto clients have experienced laments in their buying and offering cost, Feelings do influence individuals particularly on the off chance that they are unused to this unstable showcase and surging up buying and offering.I believe that crypto market is volatile so before investing must go with proper research and invest wisely.

Letting your emotions take control of you is always a mistake when it comes to trading the markets, most the time this happens when people do not really have a strategy to guide them about what to do, they see the market crashing and they do not know what to do, they are confused because the market is not doing what they want and now they will have to face that mistake, do they admit that they made a mistake or do they keep holding their coins thinking that the market is going to turn around?

This is always a question that traders need to ask themselves when they make a mistake but if you have a system then you will get an answer immediately and you will follow it without involving your emotions, but if you do not have such system then you're going to let your emotions take control and most likely you're going to make yet another mistake.

As my point of view that
 
Small Start Out. ...
Pick your Stable Wallet. ...
The Market's analysis. ...
A Trading Strategy Decides. ...
With benefit goals and Stop-Loss orders, be strict. ...
Use Extreme Caution Leverage. ...
Diversify With Different Cryptocurrencies. ...
Bitcoin Buy and Keep.

I agree. This is only one of the many options you may take in order to gai and have bitcoin. There are several effective ways to earn and to get bitcoin. You can do investment, play gambling and also tradings. Bitcoin is currently in a high value right now so it is not advisable to buy but if you really want it is up to you. Bitcoin is not in it's all time high because it decreases somehow as of now but many traders believe that in the next few months or a year it will make another all time high of its value. It's up to you wether what you want to use in order tp have bitcoin but do some research about it. Cryptocurrency is a very risky thing.

Buying as much as you can is the way to go because the bitcoin market price is pumping through years and it's difficult to get a high volume of bitcoin when the market price is too high in the market.

Buying and not waiting for the fall is I think not always a good thing to do, it's better to invest in a cheaper price for a higher profit in the future than investing in portions in most cases the earlier your entry the better.

You could just save money and then wait for the correction in the market and then invest when fall for a higher potential profit, it's not the best thing to do to invest at the top 30k$ is better than 42k$ the difference in profit is also high.

NEVER follow the crowd or act on impulse, we have seen the market drain down because of this.
If you need a QUICK cash, don't bother investing or trading on bitcoin. You will end up failing woefully, it's not been negative but that's how it fortunately and unfortunately works.
if you are not too sure of the altcoin to invest in, it's best to purchase bitcoin and hold unto it.

Thanks for sharing this useful tips.
Most of the beginners in this market cannot follows some rules and waste their money. The big reason of their failure  is that they cannot follow on their knowledge. They just follow on the income.
But if you follows some rules in the trading you can becomes a professional trader in a short period of time.

You must be knowledge on Bitcoin because profit and loss will depend on how much knowledge on bitcoin market.I will say understand the bitcoin market,build a good plan and manage this plan.

Only invest what you can afford to lose.
Dont be greedy.
Dont do emotional buying.
HODL for sometimes and dont be in hurry
Always buy ALTCOINS after reading white papers

But also don't have too many baskets because that will increase the risk of losing too. 1 or 5 baskets and pick some of the best baskets is more than enough. You may be able to set aside a part or a few percent of your monthly salary or you buy it every week. What you need to pay attention to, never force to buy if the money you are using is money that is still needed immediately. Buy deep and leave it or do it regularly regardless of price. To get good results you have to be patient.

Can someone tell me about BTC Dominance

You will be supposed not to lose if you are not doing this emotionally. What drives you into making bad decisions because we are sometimes been influenced by our emotions. But if we are in full control of this feeling, it is too far from the possible losses.
We need to be strong, we need to keep our mindset positive in order to stay proactive otherwise, that never gives an excuse to lose.

Or you do like most normal people do who put money aside in savings every month with their salary. Buy a fixed amount in dollars, no matter the price. Every time we reach a rally, the statistics prove,,, 90% of people who bought are in profit. No need to think and worry about dips and when to buy, just keep buying regularly.

It is important to not be reckless in making decisions especially in your money. You would not want all of the money you invested go to waste, right?? Always think thoroughly on how much will you put in it, and it is true to buy with the money you can't afford to lose. It's better if you have plans and set your short term and long term goals.

The number 1 tip "buy as much as you can" is buy bitcoin as much as you think that is not too risky for you.

I prefer to buy only amounts to which my extra funds can afford and not "as much as I can" using most of my salary. one thing I learned in all my years in this industry  is that you must be patient, don't regret taking out funds when you need them, and most of all, do not put all your eggs in one basket(you have to pick good baskets though and not just any baskets you may find).

I do not recommend you to buy as much as you can because that will be too risky. If the market is down or drops too far, you will panic and cut lose your trade, and if you do that many times, you will get a big loss quickly. It will be better to buy with the money you can afford to lose, so you will not feel too sad if the price drops too deep. Besides that, you will have more money that you can use to buy back again or try to search for the other coin to buy while you still wait for the previous coin to increase. It is about how you manage your money.

I think the more appropriate for this one is to buy only what you can afford to lose because entering the market especially if you don't know what you were doing is a very risky thing to do.

I don't what's wrong in correction or fall ( for me at least ) because you don't even know how low is Bitcoin gonna be so better if you saw any opportunity to buy then don't hesitate to do it.

It is easier to say than to be done. Admit it that most of us, sometimes if the real thing came into our face you will never know what you are doing or what you are supposed to do but if you can manage your emotions then that would be better.
The only thing I can suggest is that don't stop acquiring knowledge and experience because this will be your primary guide. Always have a plan or strategies upon trading and don't oppose the trend. So far those are the only things I can give. You will learn everything you need to learn as you keep exploring the whole crypto market.

That's why you should invest on Bitcoin, @OP is gave advice do enter on Bitcoin market... where's he said to invest on crypto?

You're contradicting yourself

True, the truth is when the market is crash... it's the right time to buy the dip and hold until the market recover. You'll get the profit in long run, all you need is just patience.

When it comes to risk management or how much you should spend % of your total capital into your trades then its up to someone's decision and this will really vary from person to person because we do have different capacities when it comes to financial aspect and the level of risk management.

It doesn't matter if you use 5% or 10% or even more as long as you have seen some opportunities for you to take advantage of it. It's up to you. It's your money and it's your right whatever position you'd like to take.

Just make sure that you are aware of the risk of putting up much bigger, but if you are a type of trader who does not really like to get some peanuts, then if you are a type of trader who does not really like to get some peanuts, you can always opt for a bigger trading position.

As long as you’re a long term HODL’er you’re going to be trying to buy Bitcoin when there is correction or when there is a fall, and that’s because you know that you’re going to be holding for years and that will benefit you when the time comes for the market to move to the highest point. But from what we have seen so far you’re going to always recover your losses and make big profit in the future. People who bought Bitcoin at 20,000 USD never believed that there will be a time like this when they will all recover the money they have lost.

Just like a friend of mine who kept asking me what to do, and I told that him that since he already lost money, it’s best to just leave that money and forget it till another time when the price goes and he did just that. He was able to sell at 39,000 dollars which double of what he bought at, and covered all his losses.

This is very common especially in periods like the one we are going through, when the price is not moving newbies are not interested in this market even when that is the best period to buy as the price is stable and does not move much.

But they do not care, they only want to buy when the price is going up or when there is a potential for the price to do so, which is fine but instead of using all the free time they had to learn how to trade they do nothing and then try to do everything at once when the price of bitcoin is moving wildly, and that is when they take bad decisions and they lose their money as a result of their ignorance.

im having a hard time to undestand this .
all coins will be cheaper and their value will be under 1 dollar if btc became verry stable at a low price ?
btc did come to a state where it was down for a long time and most coins are down but not all coins go down under a dollar because the value that they have before is high but for the cheap coins that has a value under a hundred dollar , they are the coins that can go a dollar or lower than that.

point 6 is very dangerous if owned by beginners. if the market goes into a downturn they tend to get emotional and sell at the lower end in panic, causing panic sells. This seems to provide lessons on how to deal with falling markets so as not to get caught up in losses

The most important thing is increasing our knowledge.

And find the right information before you invest on this market.

Especially if you want to invest in new project, Most of that project are just hyping people up, collect too much money and they are so lazy to run the project.

Inexperienced users can make a lot of mistakes when starting to work with cryptocurrency. For example, choose an exchange where it is risky to store funds or specify the wrong address when transferring digital assets. Each of these and many other mistakes can lead to a partial or complete loss of the invested funds.

1. First of all, it is important for a user starting to work with cryptocurrency to decide on their strategy. It depends on where the trader will store their assets. If he prefers to buy coins and forget about them for a long time, it is safer to keep them in a cold wallet. If the user wants to try trading digital assets, it is better to choose an exchange.
Both methods have their advantages and disadvantages. It is more convenient to keep assets on the exchange: they can be sold at any time, exchanged for other coins, or withdrawn into fiat money. This is especially true during sharp market fluctuations. If a rapid decline in the price of bitcoin begins, the coins stored on the exchange can be immediately exchanged for dollars or other currencies.
The middle gold can be hybrid wallets that work, for example, as applications on a smartphone. This is a more secure way to store funds than on the exchange, and at the same time, most of these wallets allow you to make purchase and sale transactions with popular cryptocurrencies.

2. After choosing a strategy, you should create a wallet for storing cryptocurrency: either download the application to your computer or smartphone or create an account on the exchange. You can choose both options. Experienced traders hold on to the trading platforms part of the assets that are needed for operations. The remaining funds are stored in OTC wallets.

3. There are two main ways to buy cryptocurrency. The first is directly on the exchange if you have created an account on it. Many large trading platforms now allow you to top up your balance directly from your card or through a payment system. For this, a commission is taken, usually in the amount of 3-5%.


And in conclusion, I can say that it is extremely important to choose the right strategy and stick to it.

^^^
Bitcoin is not for the impatient types.

Good advice OP, but very basic and somewhat childish. You shouldn't advice people to buy what they can and hold if they're patient because nobody knows if they are able to hold until they get tested by a real market winter. Usually people set goals for themselves and when these goals fail they get frustrated, give up and blame the whole world but not their own stupidity.

Telling people to buy and hold if they can means nothing because nobody knows if they can. After all most of us need money and most of us feel fear and regret. It's probably going to go to 50 thousand but what if it doesn't? Are you ready for it?

Buy as much as you can, assuming you're holding for long term, If not then you might be at a higher risk of lossing all your invested money. Especially when you ran out of patience like when you experience the 2018 bear season which lasted for more than a year.
The most recommendable investment advice is to only buy what you can afford to lose. Same thing goes to trading and even gambling.

It is applicable to every aspect of life I think. It is a good practice to control emotion daily as it improves your decisions in life and doing it on the market will give you good results. I believe that most crypto users have experienced regrets in their buying and selling price, Emotions do affect people especially if they are new to this volatile market and rushing up buying and selling. Sometimes it is quite helpful for traders to rush things depending on the situation and the strategy they are doing but I know these kinds of traders know that they are doing the most logical thing to do in the market.

Rushing doesn't mean you are acting emotionally and being emotional doesn't mean you are rushing in the market.

This should be applicable to both the buy and sell, attaching emotions in cryptocurrency don't usually end up in good. There was a similar case when i apply this to my bitcoin sales during the early days of the market raise during December, 2020 but got myself blamed after my sold, so, hold for a long term without panic irrespective of market volatility should be embrace. As a beginner, don't ever attach emotions during the buy and sale of bitcoin(cryptocurrencies).

I would like to add, buying with as much as you can afford to lose; when people start getting, understanding and/or implementing this concept, they will be more guided and directed into investing or buying the right way. There is no essence buying with everything you have just to gain more and when the market dumps, you start panicking and at the long run, selling at lose, but if you buy with what you can afford, you will be better suited to make good decisions such as when the market dumps, you will hardly be disturbed but look towards the future. Also, I wish to add to number 2, that is, if someone is looking towards long term, I think it is quite better waiting for correction unless it is in the case of institutional investors. I do not quite understand point 3, but I think holding Tether for long term is not a good idea and lastly, the point 6 is very important, emotions needs to be put in check.

All the tips that you mentioned will certainly be very helpful when trading. But the last tip you mentioned about emotional or psychological is a very important one and will affect all of them. Because strategies and decisions in trading depend on how to manage emotionally so you can choose the right choice and don't be too greedy.

For some other tips you might forget to mention about doing capital management. Because capital management will be very influential and save you from the bear market.

A lot of beginners are now coming into the world of crypto and advice is good for them. Buying bitcoin is such good advice as of these days but it would be better if they have to wait first for the price to go down, $35k is still a huge amount of money and it could still go down if you want to earn money then spend your time observing the market that will make you better in earning good money in bitcoin.

Totall number of your advice is really usefull of a crypto trader.Many new traders also not khow about trading.I'm sure your all tips will helped newbie traders.

The trader was probably suggesting leverage was used. When leveraging; you get to trade more money than you invest at a certain ratio, like 1:10. This means for every $1 you put in, you have a 10× leverage meaning $10 to trade with, and your profit would be based on $10$ not your actual trade amount.
This is quite risky as your losses are also based on your leverage, so if you lose 10% of your leveraged $10, you have basically lost your entire initial deposit.

Most of the advice is similar to the others who are created a thread giving advice to the crypto user. But it is good that they have people who are concern to the others who are willing to share their knowledge about bitcoin or crypto. We know some people take advatanges to the new crypto user like scammer they continue scamming beginners for their own sake and I hope they stop of what they are doing and change their bad habit and better to help people who needs help instead of taking advatanges to them.

Your advice is so complicated since there are various reasons that needed to consider and your statements sometimes really not necessarily needed to do. Since we should buy some bitcoins which we think we can afford since if we buy using all of our fortune then it's a big mess for us if the market crash and, I'm sure you cannot get yourself calm when you see your fortune melting for the said crash.

Can anyone  explain to me, this strategic bitcoin trading video https://www.youtube.com/watch?v=eHtJ4I4S4Vc
 How he makes 3.5 times his money (on a $100 investment) when the coin went up a 3.5%?

Dave..

Buy as much as you can from your own money, and from your spare money. At least, you should never take any loan to buy crypto and should have enough reserved money to use in life.

You said opposite things in your sentence. I know it is challenging to be correct and buy at floors but buying at dips is wisely and to do that you must wait for corrections or pull-backs. To wait, you need to have patience.

What is tetra?

I am not sure that I understand it.

Sure. Trade or invest emotionally cause losses. Two weapons for you: Stop-loss and Stop-limit orders.

One of the Best Weapons in Trading
What Is a Stop-Limit Order?

Based on my experience in bitcoin markets the more you hold and patience the more you gain from it. ,Many bitcoin investors got informations/tips about bitcoin markets,flow of bitcoin by simply reading articles,news and asking in bitcoin org. on how bitcoin market works and how to gain profit .some of those bitcoin investors hired bitcoin expert/analyzer so that they will got high profit when they invest more bitcoins.

You can buy as much as you can, but you must know what the risk is, so you can prepare if the worst thing happens to you or see the price drops significantly. Buy on the floor is right, but we will see that is not easy to find the lowest price to buy, so you can only buy after you make analysis, and no matter what price you place the order buy or sell, you should not regret it. Do not panic if you see bitcoin price drops, but you should stay calm for a while to see if you have a chance to buy more or you need to wait for a while.

You give very good advice but all of course will be based on the current situation, we know like bitcoin with a high enough price it is impossible for what you say to be fully implemented because of course it is very risky and requires large enough funds. all applications will always be determined by the circumstances and situations when what we are going to do is not general, because it will not be possible to be all the same in the situation when we are going to execute.

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Thank you for your advice and keep improving when you see the need

I agree with you about fiat-crypto comparison after you bought it.

But IMO a man should buy only the amount he's ready to lose! This is an investment as anything else, and we shouldn't be reckless!

1. As long as you can AFFORD to lose it. If i have $10,000 it doesn't mean I should buy $10,000 worth of bitcoin. I would if I can afford to.
2. Or you could wait for correction or fall. Some events might trigger the price to drop. If you are aware of such events that is about to take place, then wait.
3. Not sure what does this even mean.
4. huh?
5. You are now starting to make no sense.
6. Gibberish.

1. = always invest on the amount you can afford to lose, dont get all in or risk your life savings
2. = Falling prices doesnt indicate that it is the best time to buy.
3. = No common on this one
4-6. This do talks about on self decisions basing of your experience.

Just dont let yourself too greedy and set up goals and as long you do make out profits then that what matter most.

A correction is inevitable and we'll always tackle with it most of the time whenever we see a surge in the price of bitcoin. It's always advisable to buy at the dip or during the correction.

Isn't it the floor is likely as correction or a dip?

All you need is knowledge and understanding. Without these two elements, no amount of important tips can really help you in the Bitcoin market. Knowledge and understanding will let you know when to buy or invest and when to sell. Knowledge and understanding also helps you to develop plans and strategies to suit the current market pattern of the market. Tips are just addons, they don't really influence the profits or loses you are gonna make.

You're better of buying what you can afford to lose. Investments are huge risks and you should only put spare money into it.

My advice would be for anyone considering buying into Bitcoin, to do their own research on what it is, how it works, how to securely hold it, etcetera. A lot of newbies jump in cause of fomo or cause someone adviced them to, without fully understanding how Bitcoin works.

My advice to friends (based on experience)

1.Buy as much as you can
2.Buy on the floor, but do not wait for correction or fall.
3.Do not do anything for the price of tetra and dollars…
4.If it comes down to a short time that you bought at a reasonable price….
5.If it comes down in the long run and stays that you did not lose in the long run, everything will be cheaper than the dollar.
6.Do not act emotionally… Wherever you say to buy or sell… you are more likely to lose


If you have any suggestions, let us all know so we can use this experience.
Thanks