Post
Topic
Board Bitcoin Discussion
Re: What we all learnt this 2023
by
tbterryboy
on 02/01/2024, 04:55:53 UTC
Don't take popular opinions as an investment advice.
That's one of the biggest mistakes newbie investors make, they take every opinion and suggestion and even analysis as a piece of investment advice because they think that every single person who says certain technical words are market expert and everything they utter is going to be true.

Stop relying on Telegram channels or Reddit groups for trade signals or investment advice.

I recommend that you get some knowledge so you could do some analysis for yourself and check those signals before using them. This would help you have an idea of the risk your getting into.
Those group creators and operators are pretty clever because they always target newbies since they know they are the most vulnerable in the market and someone who has some knowledge would never consider them trustworthy for their financial decisions.

Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.
I think it's far better to have few crypto that you are constantly, than investing violently in so many project.
I always see people having their capital spread in so many altcoins, that you will see them holding $5 worth from every single altcoin that you can find in the top because they think they can get more profit this way but they are wrong. More coins in the portfolio don't guarantee higher returns.