How to Deal with Cryptocurrency FUD (Fear, Uncertainty, Doubt).

dominikboecker (52)in #cryptocurrency • 7 years ago

Investing and trading cryptocurrencies is all psychological and can get emotional for some people. It's only human nature to listen to FEAR, UNCERTAINTY, and DOUBT in an effort to keep safe as a protective mechanism.

However there are times when this FUD get's out of hand and becomes a self-liability. With Alt currencies this FUD greatly influences the course and price of a coin through manipulation the opposite of a well hyped up marketing machine designed to drive prices up.

Typical FUD includes:

Missed Goals/Roadmap targets and deadlines.
Partnerships falling through.
False rumors, misinformation and fake news.
Negativity surrounding the founders or dev team.
Incorrect technical analysis.
And much more...

You can be great at technical analysis of a chart but if big news comes out that appears negative then the following FUD Factor (Fear, Uncertainly & Doubt) kicks in and all that chart analysis goes out the window.

In most situations when a coin plummets it's best not to sell and just wait for the volatility to blow over and let the price consolidate for a while. Then come in and make a rational decision and that's if you haven't already implemented a game plan for your coin.

What do you do when it plummets?
As part of your plan do you HOLD or Sell at a certain loss?

Have you experienced results that have not been as expected?

Always have a Goal, whether you're investing or trading and simply stick to it through thick and thin. Don't give in to panic and FUD.

Any realm in which you have assumed you can no longer advance and improve—and are now deciding that there is “nothing you can do”—would be considered an area of retreat.

If you retreat, you will spend a lot of time justifying why you’re retreating.

Today, I want you to ignore the FUD, despite the fear of failure.

Always do your own research and only consider the opinions of others with a. pinch of salt. Do not listen to them. Do not quit. Do not retreat.

Thank you for reading this post because I hope it is helpful for you to handle and deal with FUD.

If you think this is a helpful post for beginners to the crypto currency space, would you please upvote this because it will help me share more insights to success and profit with digital currencies.😋

All my hopes and dreams.