Re: I tried to tell him just HODL bitcoin, don't make this hard.
People shouldn't invest if they can't control their feelings, and they shouldn't invest in coins that haven't been thoroughly researched.
One of the basics of trading is studying the coins because you're spending money on a coin because you know it is promising and a lot of future ventures, not because of the hype. If you believe it will turn bullish soon, hodl and wait rather than panic selling because you will lose a lot of money.
2021 has a good result for cryptocurrency, just be patient and wait for the huge outcome. I researched first before trying to enter the market especially right now where altcoins are giving x10 or x100 profits.
I mean, using feeling when trading is okay but the problem is some people just rely entirely on feeling without any analyzation thus the bad decision.One of the basics of trading is studying the coins because you're spending money on a coin because you know it is promising and a lot of future ventures, not because of the hype. If you believe it will turn bullish soon, hodl and wait rather than panic selling because you will lose a lot of money.
2021 has a good result for cryptocurrency, just be patient and wait for the huge outcome. I researched first before trying to enter the market especially right now where altcoins are giving x10 or x100 profits.
I can never understand why people want on the short side against an asset that has proven to go up at average of 300% per year for the past 12 years when flattened out the volatility. That's such a bad risk/reward.
I think it's more of people believing that bitcoin has reached its peak somewhat and think it's gonna be a lot slower in term of growth and the volatiltiy just isn't there although it's true that from the past decade the bagholder has proven to be the winner but it's just human nature to have doubt that the very same thing could happen twice.