Does it matter how long you've been in the market, years of experience does spots on some bright sectors on the market I guess?
Of course, it does. If you have been in the crypto market for a long time and you are familiar with these market movements, you won't get panicked by those movements because you know these are usual things in crypto. But when someone new sees such movements, they think crypto is getting fucked and they should quite the market as soon as they can. That is not what a veteran crypto user will do.
But as I said, sometimes veteran crypto users get panicked due to huge market movements. I believe a lot of people actually panicked when the market started crashing a few weeks ago.
The panic occurs not only because they are still beginners or those who are experienced. The thing that makes them panic is actually the lack of information and the most basic thing is the money they use for trading or investing. Because by using money that is not cold, of course when the market fluctuates, excessive panic will arise, especially if using borrowed money. Therefore, to avoid panic when trading, in addition to having knowledge, information, we must also prepare money that is specifically for trading.
In addition, in trading, never make a momentary decision just because the trend is going up or down. However, set your own target when to buy and when to sell. Also, just ignore it. Stay calm, so you can avoid greed or panic.