The Importance of doing your own research (DYOR) before buying cryptocurrencies and learning from your own mistakes
From that CoViD pandemic dip. some people sold-off, these are the people who are moved by their emotions. But really, people are always moved by their own feelings for anything, I know that because it also happens to me but with the influence of other people or what I have listened to and believing it which is why I would act, and that act may very will be on the stupid side. That is why we are all told to DYOR or "Do your own research". We do have to research about... in this case with some coin, what is it, who made it, is it decentralized or only gangs run it for their own purpose and gain under the cloak of decentralized coin, is it centralized, then get away from it with a ten pole stick and not even look back, does the said coin have value and will get some more value? and that will lead us to researching more about its function, does it make people lives better? If we can know about the coin then we would act accordingly of what will happen next for it and that will give us more confidence about what action to take the moment positive and negative happens for the purpose of benefiting and not loosing cryptos (money) in this peculiar game with cryptocurrencies.
Personally I am planning to do something that I haven't done lately which is to follow my instincts. I actually I did it before to my gain and lacking my profits with Bitcoin. Before the fork of H*** from STEEM, I anticipated that STEEM would pump because usually pumps happen when certain coin is rumored to be created, the price initially pumps. And so I followed what could happen to STEEM's price at that time and so I powered down all my SP except for around 9K+ that I didn't sold. I traded it with BTC and left me with an evergreen savings that would reach what predicted price it should go, usually every after Bitcoin halving or near it. This story is about acting upon what you know and not what other people wants you to believe. That is why it is important to stay in your game based on facts and things that you have observed and learned from the past. Then you will base your final decisions based on those things that you learned in order for you to achieve a winning move and it takes time. The bottom line is that you have to really do your own research and learn from your observations and also your experiences.
There is a learning curve about being involved in cryptos, at first you are just trading for the fun of it especially if the market is in the bull run. Then you began to lose when the market goes back and turnaround and thus leaving you with a bag of useless coins in which if you sell, then you will truly lose-out. Then that coin is left to die on its own when news about it as well as its developers had abandoned it. This scenario happens often, it is the product of not doing your own research, buying useless coins that you thought would last forever. The importance of doing your own research would had helped you and your mistakes in the past must not happen again because you have to learn from it. Don't kill yourself for this because it is a normal occurrence. The important this is that you are still in the game and that you are still earning and also you are much better on what cryptocurrency to buy and not to buy by doing your own research in the first place, you do not get affected by emotions, and also you have a plan when to buy-in and sell-out to further maximize your gains.
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