Another thing that may help you minimize your losses is to set a goal. Once you’ve done your research and have some basic knowledge of how the markets work, it’s important to set a goal for each of your trades. Let’s say you see something you want to invest in, at what point, both positively and negatively, will you start selling? Setting a goal can protect you from the mental stress that fear and greed usually bring.
Yeah, moreover funniest part about all these is that some of these coins would come out and increase over thousands of percentage in value, but when they go down, they are down for good and wouldn’t be increasing in value anymore. Seriously this can be annoying when you invest in a coin like this, a coin that comes out and at first is looking like the future is bright for this coin, but all of a sudden it will just go down and just end up like that without even a chance again at increasing at all.
This is the reason why a lot of people hardly consider altcoins when they are investing money in in the market. Most of them would only go for Bitcoin, and if they’re even going to consider any alternative cryptocurrency at all, it is just going to be those ones that are like the Top 10 and top 20s in the market.