Warning!!! How Emotions and Panic Sell Can Ruin You Financially
Whenever there is a negative news against bitcoin or any cryptocurrency , then we see many emotional and panic sellers in action selling their coins even though some bought it at a high price. This has led to huge loss of financial wealth and in some extreme cases, bankruptcy. The conundrum, however, is why do we see these phenomena almost every month? Here are some few points:
Manipulation via Fud (Fear ,Uncertainly and Doubt) : many industrial shakers (see my former post about Warren Buffet) sometimes create fud (JP Morgan CEO too ) in order to send panic in the industry and thus take the opportunity to enter the market with their billions buying off from emotional sellers. Reason is that human nature will always make some weak people sell off their investments and later regret it. Therefore, do not fall victim to such schemes.
Emotions: emotion can lead to greed : selling your car to invest in crypto due to FOMO which is dangerous -moreover, emotional selling can lead to financial ruin because of selling off all your investments at a loss due to FUD. Remember that markets do not move sideways rather up and down. Therefore enjoy your gains when it moves up in your favor and be disciplined when it moves down against you-especially when dealing with bitcoin, steem and some top tokens backed with top teams and real project example www.elyte.io (see the crowd sale section of their website for their current crowd sale and join the next best thing-also join them on telegram via their telegram link below).
Due Diligence: Try to do your own research before investing. Make sure that the coin or token has a good website, visible team members and contact information. Moreover, is the project realistic? Is their white paper professionally done and are they working hard behind the scenes to improving any limitations they might have? Do they have active social media group, examples tweeter, bitcoin talk, reddit and or telegram? Make sure that you can at least chat or speak with a management team before investing long-term and thus ignore any down trend due to fuders because the coin or token will always bounce back stronger.
Diversify Long Term: Long term holders make the highest money in crypto space than daily traders especially if you diversify your portfolio long term . Some examples are ethereum lyte ( www.elyte.io) , steem, eos, bitshares, and other undervalued good coins/tokens. These strategies will guarantee you a positive ROI (return on investment) and risk diversification.
Do you agree? Send in your comments and or suggestions, Upvote and resteem in order to send in your support.
Click here and read my former post: The Naked Truth: What Led To Steemit Sudden Surge In growth?
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Warren Buffet even admitted he doesn't understand Cryptocurrency, therefore his comment is not valid. But I do like his quote that states "The stock market is a device for transferring money from the impatient to the patient."...so we can also apply that to Crypto.
So true and the stock market is regulated highly to loot people who tend to put emotions into their investments. Buying high and the fear all over. Crypto space is the best and a veteran won't care when there is FUD all over. Usually the best thing is to watch television, movies and some family time. If not rather buy some good ones.
Nice comment. Cheers!!!
Very good strategy indeed, I agree.
I can't even see the charts today. Going blind literally. HODL n Buy the dip only if spare $$$ is available.
Wow , your comment is so solid that am following you now in order to stay in touch and send in my support. Welcome to steemit , also see my older posts for tips on how to be more success here...good one my dear one.
Thank you for the upvote and follow! I followed you back straight away. Great post by the way and I will definitely look into you other posts! :)
Welcome and feel free to ask my ans question about this great platform...I wish you success...keep steeming.
Top Cryptocurrencies Pending Price Target and their due dates
https://steemit.com/cryptocurrencies/@salahuddin2004/top-cryptocurrencies-pending-price-target-and-their-due-dates
Hi I'm just wondering.
How much you support steemit as compare to other crypto? (As in how much is your proportion of Steem in your crypto portfolio?
Steemit is a key one however diversification is better....see elyte.io
You lost everything if you do a panic sale. Money and coin will gone.
I agree, good point.
Panic selling is not what you have to worry about. The thing that will ruin your life is letting the emotion of greed get a hold on you. So that you keep putting real money, including using Credit Cards and Mortgages on their homes. Into a Ponzi Scheme that they think will only go up and up for ever and ever. That just is not ever the case. That is what is going to ruin people. It's as sure as Death and Taxes, it's just a matter of when.
Good point however do you think that all cryptos are ponzi scheme? what of central governments and their banks printing money like hell..
It is emotions that makes us human.
Humans can't stop feeling emotions.
I agree...however you can contro the emotions
Thank You for making this post. Your all points are valid and true. It happens same in the market, the point FUD is truly applicable on industrial minded people. they want to give pain so that they can get into bitcoin for getting benefit.
And they all are holding bitcoins for long term so that they can get more benefit as compare to others. This is the bitter reality of cryptocurrency
Good point, Thanks for your comment
Panic selling is dangerous, most people have lost hug sum of money in trading as a result of panic selling. good job as usual.
Good point, thanks for your comment
Rule Number 1: Never Panic Sell!
Good point
totally agree and coulnt agree more especially diversifying your investments on a long term basis. thamks for sharing
Great
Thanks for sharing @ Charles1, it is great opportunity for real investors to make more money since they will be buying at cheap price.
welcome dearie..