95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable. It really needs more reviews and research before buying certain coin or token. I always advice new traders to spend their time to get to know the concept and the purpose of the projects or to DYOR (Do Your Own Research). Sometimes the reason why you buy certain coin or token because of hype or FOMO ( fear of missing out ) wherein you see your friends in social media enjoying what they hold. FOMO always happen anywhere in social media because it uses as a marketing strategy to manipulate the markets. Therefore, before diving into cryptotrading, always make sure to DYOR!
The market trend also determines the advantages and how traders respond to it, whether it fails or is successful, you are really a lot of beginner traders who always follow the hype or FOMO and are more likely to follow the person who gives advice without doing "DYOR", which is why there are many panic holders. they have no information and do not understand what they will do in the future.