time for sell or buy cryptocurrency?

in #bitcoin7 years ago

Right now the crypto-currency market seems to be heading towards the depression stage. we are only human and human are very emotional , especially when money is at stake.
however a good investor knows that he cannot reply on his emotions, instead he will use the emotions of other investors to his own benefits .
you see a lot of people are simply using crypto currency as a get rich quick scheme, they neglect to do any research themselves, instead they simply invest in a favor of the month crypto currency which they believe will make them millionaires overnight. even story i have heard about crypto millionaires involves people who saw the potential when no one else did. how many people knew about bitcoin when it was less than a $ ? now how many of those people actually bought any?
most people have a bandwagon mentality and only want to jump on the train once it has left, why did so many people wait for bitcoin to reach $20k before buying in?
those are the same people panic selling now and to be honest they probably deserve it for being greedy . if you do not believe in something why would you put money in to it?
if you own any crypto currency i would advice you to hold it, selling at a loss is a very poor strategy and the people who sell at losses are usually the same ones who buy back once the price has risen again.
its common knowledge amongst experienced investors that the best time to buy is when everyone is scared and the prices are falling.

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For future viewers: price of bitcoin at the moment of posting is 7761.00USD

Wow nice post. Keep em coming. will folloy you for more in the future :)

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