CRYPTOCURRENCY-BITCOIN PANIC SELLING - How to lose money in a very stupid way

DISCLAIMER: I am not a crypto expert, guru or whatever and this Article is not for daily traders.
This is for normal people who just approached cryptos and losing a lot of money because of committing very basic mistakes.

Cryptos are like gambling, we all know this.
Anyway you can have far more possibility to lose all your stack committing very basic mistakes like panic selling.

What is panic selling?
"the action of selling off large quantities of a particular product or commodity due to sudden fears of a forthcoming decline in demand or drop in market value."

So basically when you invested in cryptos with no previous experience about this topic and you see [your coin/all coins] going -35% in few hours and you go mad; your mind starts to play with you and you think things like "this is the end of cryptos" "I don't want to lose all" etc.

Then you see a little recover and starts to hope everything will be okay but at the same time you feel completely at the mercy of the casuality , without any control on the situation.
Then you see another -10% in matter of minutes.
Now you are pure fear, you just cannot think clear; you goes on forums to search confirmations but you only read others people panicked who are selling because "this is the end, the game is over, SELL ALL CRYPTO RIGHT NOW" etc etc.
Distrupted by the stress, you finally sell at -43% because "better save the last bucks rather than lose it all".

Incredibly, after few minutes/ hours, all the market starts to recover and in less than 2 weeks prices are already higher than the pre-crash.
Congratulations, you has just been played by whales/ market manipulators and lost 40% you your money.

How to avoid this?

1 - Before investing, define a very clear timeframe in whose you will NOT sell / convert to fiat.
Crash in cryptos are pretty regular, you don't want to decide if to sell when it happens - you should already decided this.
When crashes/ big corrections happens you simply should not take decisions. Close your tools, go out and take a pint or two.

2 - Invest only the amount of money you are willing to lose.
You can hear this very often; why? because it's far more easy apply the rule number 1 if you are playing with money you already know can be lost forever.

In fact, when you put money on cryptos, you should reason as this amount of mone is already lost. This is how you don't give two fucks and can hold without too much stress and you eventually make good money when the market recover.

3 - When the market crashes, don't look for assurances or opinions in forums.
You will end to hear only panicked people which will end convincing you to do the most stupid thing when market is crashing - to sell.
You will find threads in forums of panicked people like who, despite having only few bucks invested and being in cryptos from only 2 weeks , publicly suggests to "SELL ALL CRYPTO RIGHT NOW" because of nonsense alleged insider infos.
You can find plenty of these "investors", and plenty of nonsense "insider infos" which in majority of the cases are fake news, while the rest doesn't affect the market at all.

I hope now you understand why you should only play with money you can afford to lose; this is the only way to not go mad, have profit and also have fun in this crypto game.

Remember also to regularly withdraw some cash when you reach all time high ;)