Crypto The proper mindset of a crypto investor

[Alexandoy]

If you have been trading in crypto coin then you probably would know the proper mindset of a crypto coin investor. I am wondering why there are posts in forums about being panicky when the crypto price goes down. Like in the case of Bitcoin going down to $34k from the previous $50k last month there were the heartaches of the investors that I read in their posts.

One advice that I had read is patience. When you invest on something bear in mind that it is a long term. However, when your crypto coin is gaining so much ground that you can earn a good profit when you sell then sell it. Otherwise you just keep the crypto holdings for a year or even longer. If you are impatient then you have the tendency to sell at a loss when the price is going down.

 

[sincerem]

If someone isn't patient enough, that will surely cost him or her losing money around Cryptocurrency when the price isn't moving up. At the moment its simply on the bearish run, things are falling down. But still a good time to buy more adding our already past investment and leave it to grow gradually until it brings financial success.

 

[Chibson]

Investing in cryptocurrency is not for the faint-hearted. I remember when the price of Bitcoin and other cryptocurrencies we are falling down and a lot of people who invested much amount of money we are complaining and lamenting. Cryptocurrency requires a lot of patience and you also have to make a lot of research if you want invest on any cryptocurrency.

 

[Lens1000]

You are absolutely right but I will not blame any investors who do a panic sell . Panicking sometimes as to do with the invested . If you invested a huge sum , a little dip in price will cost you a huge loss. In a very uncertain market like the bitcoin, you never can tell what will happen next minute. It's always advisable to invest an amount that you can afford to loose

 

[Sherman198]

Impatience affects in real life not only in cryptocurrencies. When you are patient enough, you tend to make blunders, errors in actions. But these newest investors believe Bitcoin is some pyramid scheme, that they can just make money in just a week less. So tend to panic any time they hear one gory news about cryptocurrencies, this news sometimes pushes them to sell at the wrong time.

 

[Chibson]

Impatience affects in real life not only in cryptocurrencies. When you are patient enough, you tend to make blunders, errors in actions. But these newest investors believe Bitcoin is some pyramid scheme, that they can just make money in just a week less. So tend to panic any time they hear one gory news about cryptocurrencies, this news sometimes pushes them to sell at the wrong time.

Impatience is one thing cryptocurrency traders must avoid because it was actually affected me a lot of times. When I ventured into cryptocurrency trading newly, whenever I buy a coin, I will not be patient enough for it to hit my target price and I would pull out of the trade and whenever the price is going up again I will place a trade again and from there I will begin to lose my money. There are also holders who are not patient enough to reap the benefit of their crypto.

 

[Wisdom01]

Patience is needed for you to take note when trading crypto currency because you obviously need to find different possible medium to close position and take out profit the way you love to take profit , because we all know how earning through crypto currency could be tedious except using the right strategy to trade and make more money from the trade

 

[Josemendez]

Anybody that wants to be a crypto investor should try to understand that cryptocurrency comes with a lot of volatility ,and it is this volatility that makes it profitable. If however the person wants to benefit from the cryptocurrency investment , then the person need to work towards being patient , know when to take his profit .Greed is one of the wrong approach towards cryptocurrency investment.

 

[Sherman198]

Impatience is one thing cryptocurrency traders must avoid because it was actually affected me a lot of times. When I ventured into cryptocurrency trading newly, whenever I buy a coin, I will not be patient enough for it to hit my target price and I would pull out of the trade and whenever the price is going up again I will place a trade again and from there I will begin to lose my money. There are also holders who are not patient enough to reap the benefit of their crypto.

You are right.... subtlety is needed as a trader, though someone needs to be technically skills while trading cryptocurrencies, because if you are not skillful enough, you maybe making or opening a trade at the wrong time. But with the right skills you will be confident enough to trade and make profit.

 

[Mika]

If you want to benefit from crypto currency, you need to invest in a couple of coins and patiently wait for the coins to get value. You might even have to wait for years before your invested coins get appreciated. If you are not patient enough, you might not profit from a crypto investment. Panic selling should be strictly avoided.