FOMO
We think that the top mistake, out of the 5 mistakes that every crypto trader should avoid, is giving into FOMO (the fear of missing out). New crypto traders are particularly susceptible to this, however even the most experienced trader can fall prey to it. Whether its in situations where you sell an asset too early because youre afraid of making a loss, or even buying into sketchy projects just because somebody you know deemed it as the next great project, FOMO is never good.
This is one of the hardest mistake to avoid. Even traders with some experience and knowledge sometimes cannot avoid them.
Not to mention for newbie traders. It's even worse than it looks. Especially if they've been following some kind of trading signals.
They just blindy followed the signal without knowing that the price already too high. And panic selling when someone spreading FUDs.