Ninjastic
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Board Bitcoin Discussion
Re: Some important tips about the bitcoin market
by
Ludmilla_rose1995
on 26/02/2021, 05:50:09 UTC
Quote from: gabbie2010 on February 25, 2021, 05:09:42 AM
Quote from: Ludmilla_rose1995 on February 25, 2021, 04:42:22 AM
Quote from: mr_ROBOTT on January 14, 2021, 04:41:55 PM
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 Wink
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.
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.
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.