Quote from: dimox on August 12, 2021, 10:41:48 AM

Quote from: Kong Hey Pakboy on August 12, 2021, 08:06:38 AM

Quote from: Congyang on July 27, 2021, 08:58:11 AM

beginners often lose bitcoin because of point 1. I think this is because beginners only see the movement of the bitcoin increase chart in a short time without thinking about the long term. so it's easy to get stuck in the opinion phase, get rich quick. this is wrong, because in crypto everything requires a process and there is no instant rich

But disregarding that reason, I think it's more of the impatience that causes them to loss money, they panic when the prices are going down which ends up with them having to sell their bitcoin at a lower price because they're scared that it will only go down to that point. Plus, there's the short-term mentality of the newbie, they don't exactly think at the grand scheme because they're scared that it's all a scam at the end.

lack of knowledge about bitcoin. people will loss their fund because of their reckless to respond what if that state come to them. newbie need guidance from expert to do the next move. most of them will panic if bitcoin price fall.
and im not sure if people will follow unknow people to decide something important.

Right, the lack of knowledge regarding bitcoin sure is what made them experience loss, mostly. They might not understand much about bitcoin situation, the trend, the volatility and such, and for those people, they are being so afraid even if the price fall only a little, or fall quite much for short time. They will be panic and then most of them will panic selling, which will make the price decline even more, and more people will complain about their loss and such. Only if they understand that bitcoin can be really volatile, trust it enough and never sell in panic, of course decline won't happen, and the price will slowly increases back again. Really, people need to learn more before investing though, to avoid making mistakes that can be prevented.