Post
Topic
Board Altcoin Discussion
Re: The goodness of long-term investing in cryptocurrency
by
blockman
on 08/12/2022, 09:56:36 UTC
Long-term is ideal with most but short terms are more likely with the newbies because they're at the learning stage and after experiencing it, they'll summarize and have a conclusion that long-term investments are really the best choice.
Yeah, it's not a risk-free strategy but you're able to mitigate the risk and you can mend some of your losses depending on how you'll react to the market based on what it is currently showing. Needless to say, on a personal note, long-term did me well and thought me how to become disciplined in investments.
Newbies due to their lack of knowledge prefer short term trading over long term investing, and they have this preference because of the higher profits they can supposedly get by trading, but what they choose to ignore is that only a very small minority of traders get those profits while the rest get losses, and it is not until they begin to lose money they realize their mistake and then they try to switch to long term investing, however after losing so much money when trading the markets it is difficult for them to hold their coins for long enough to get profits in this market.
Yeah, they think of the market as a short term market only so they want to extract as much as they can with as soon as possible mindset. They think that the market is going nowhere so if there's a chance that they can make money from it, they want to take the advantage of having that mindset of being short term on it.