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Cryptocurrency is full of surprises since you can decide to withdraw when the market is declining and your portfolio is losing money. A few weeks later, you purchased more cryptocurrency in the hope that the market would recover. Unfortunately, the market kept falling. You considered selling your cryptocurrency because the market has been declining, but after watching social media and the news, where everyone is predicting an increase, you are once more joyful.
When you start to feel a little bit of hope for the market, everyone on the news and in social media is predicting an even bigger crash. You had a clever plan that would allow you to make up all of your losses; you would sell your cryptocurrency and then purchase it back when the market fell. Then you sell all you own and wait for the market to decline so you can repurchase at a reduced price. This time, you believe your choice will be sound, so you continuously checked to see if the market had fallen.
A few days after you sell everything in your portfolio, nothing important occurs. Only for you to go back on day 4 and see that the price of Bitcoin has increased by 20%. Now you're wondering why you said it was just a bug when the market was going to crash. You thought to yourself, "Getting lots of people to buy and then tumble down even more is just a bit bullish." You are there telling yourself that Bitcoin always surprises the market, as is its nature.
Nothing significant happens for a few days after you sell everything in your portfolio. Only to return on day 4 and discover that the cost of Bitcoin has risen by 20%. You're now perplexed as to why you claimed it was merely a bug at a time when the market was about to crash. Getting lots of people to buy and then fall even further is a little bit bullish, you reasoned. You are convincing yourself that because of the nature of bitcoin, the market will always be surprised.
Bitcoin actually places with your mind, which is what it does to your mind. The cryptocurrency market is not for the faint of heart; in order to realize gains, you must hang onto your position for a considerable amount of time.
There's a lot of emotions involved in cryptocurrency because of its level of volatility.
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