Why do people fail so much at earning money in crypto in the first week/months!?
Look at this picture!
Most unexperienced people, driven by pump and dump advices from slack/telegram/whatever, will look at that first green candle and think, GOD this is going up, this is going to new ATHs, I gotta get in! And they will.
Now look at what happened after.
I did this mistake myself and I have been in crypto for almost 6 months, I should know better!
BUT
I learned, and a few days after (yesterday If im not wrong), there was another pump news on BAT! Guess what, those news were kinda old, and if I had gone after those news I would have lost another 20%.
I was told to get into BAT, it is going to pump, its still early.
Indeed it is, if you are on it for the longterm, but a newcomer wont have that patience or capacity to see it that way.
What to do now on the DCR case? Just hold, it is a good project, it will in time recover and you will be in profit.
You only lose money if you sell on a loss.
With all this bullshit talk, all I wanna say is, invest in longterm! Get into a good project (do your due diligence) and ride the waves. If yo uare into a project for the longterm, you won't carae (that much) about temporary dumps.
I did it with a single project so far and it worked really really well!
I got in at around 8000 satoshis in Stratis (cant see the 8k sat in this pic). Check where it stands now! 300k+ with an ATH of 450k+ and looks about to be ready for a new take off.
Hope someone appreciates this!
In my opinion, as of now, investing money on crypto has the same rationale as playing in the casino. There is no robust valuation method for cryptocurrencies and cryptoassets, so at the end is just a bet.
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I have a similar opinion, but incase you get into the game, try to enter the best way possible. Dont chase pumps.
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I think it's all about choosing a good coin based on solid, logical reasons and holding it until you are happy with the amount of profit you've made. Too many people, and I was definitely guilty of this at the start, FOMO into a coin when they see green candles or huge % increases. I always post about my investment decisions which are made off of solid facts such as upcoming releases. I think it's the healthiest way to invest.
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