Some people get scared by the volatility though, especially those who are trading which is buying with the plans of selling within a short time, so they tend to be worried about the volatile nature of cryptocurrency which makes it possible for the price to jump a wide range within a short time. Long term holders may not worry so much about the volatility though because their plan is to hold for a long time so any entry point is fine by them.
The traders wey dey fear for the volatility of the market why? abi them no know say na so the market be before they begin they trade?
The traders wey the fear na backyard traders wey them being and them no learn but just think say they can do better than those trading already and just begin they trade themselves.
Me I dey always talk say the volatility of the market isn't a flaw but an advantage to those with the right mindset and knowledge.
People they use this volatility make better money whether na by investing or by trading, anyone go work if you use the times when the market dey down to buy Bitcoin or although crypto of your chosen
Everything na your mentality sha because in all conditions of the market, e get people wey they make money, nobi say the money they come always but e no get when them no go make better money to use guide untill the next time wey them wan run am again whether na trading or through investing.
I totally agree with you.Traders panic because they want to get more profits in the short term which can increase their investment risk. Also, another reason to panic is that they invest their entire capital in crypto and may panic at a downward trend in price but they should have been steadily accumulating in the DCA method.
Some traders show volatility to gain profits by entering the market and start with lump sum investment which can be their trading strategy. Yes in this they get a stack which tends to take immediate profit but if the price goes down in a moment it can show more volatility and is normal as a newbie trader. According to me an investor should start with small investment while reviewing the market conditions while entering the market or tend to accumulate in DCA method. This method allows him to continuously accumulate crypto and a portion of the income every month without the need for additional cash funds.