Don't be Impulsive about your Trading Decisions - Gather Sufficient Information
Depending on price differences alone for market (selling and buying) decisons can always be deceiving. A profitable purchase or sales of a commodity must put other relevant factors into consideration. Indeed, implusive or emotional trades should be avoided.
I had long known that cryptocurrency is quite a volatile mtrade option to dabble with in the foirst place. One must be ready to safeguard his heart agains jerks that accompany sharp market falls and rises.
I had an experience after my first year on steem that did baptise me into the wisdom of crypto trading. I actually joined steem when the prices were quite juicy @ $5 and for me, nothing could ever convince me that steem could hit a $0.08 mark ever.
I invested some fiat to purchase steem while it went down to $1.5 and in hours I made over 100% profit when I sold the same tokens at $2.2. I was excited and decided to wait for another dip which did cost me over $300 then only to wake the morning that steem had gone down by 20%. I held on the tokens and kept seeing it go down till when it hit the $0.5 mark, I new that I would never expect a profit from that investment.
The truth from the story above is that my purchase was quite impusive and entirely dependent on price mantra. There are many who claim authority and professionalism in crypto predictions, many have failed time ansd again. These predictions are nevr to be relied upon.
My research has shown that communication is what really triggers demand for crypto. This is ecause people tend to build trust by what they hear. A frequent communication from an investor or lead team has a way of building invement confidence.
Bitcoin's pump today to as high as $8,300 is amazing and surprising. We knew hive would rise, but this sudden jump was never anticipated.
In any case, never be impulsive when investing in crypto. DO your research and guard yourself against jerks that arise from sudden price trips.
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Thanks a lot for supporting @dcooperation.
@tipu curate 2
Upvoted 👌 (Mana: 0/4 - need recharge?)
Just my little way of saying thank you. Will always do this each time I post to dcooperation. Is the community active on hive too?
Yeah, I'm also supporting the community in hive and powering up everything there. I hope people will start to participate in our collaborations, so we will grow faster. Our power in hive is a bit bigger by the way and our upvote there is over $0.2. Not a lot, but at least something. Still not giving up on the project even if only a few people are posting. Maybe we will find some whale who will support us someday, so the community will improve.
Awesome to hear.