Still Buying Cryptocurrencies the Wrong Way
Financial tip: “You don’t buy a rising asset if it is a developing asset and not a recovering asset. In all cases, assets should always be bought when they are down, so we take the greatest advantage when it recovers the down value and generates a profit margin for our finances. “
So far, the biggest attraction for those starting in the crypto market, is exactly Bitcoin, even if the person has only $50 to invest, he wants to buy the most coveted asset, the most famous one in the market, his dream is to just buy it and keep it in his wallet and go around saying that he bought bitcoins. So at that point, he doesn’t care if it’s in a recovery phase, or if he’s looking for resistance, even if he doesn’t understand the market he goes out buying, and when he sees his money depreciating because of the asset’s fall, afraid of seeing everything go down, he sells the asset and loses the rest of the position down.
“That’s called buying Cryptocurrencies the wrong way. “
It is important that before you enter a certain place, you know who you are walking around with, who is taking you there, if they know the place, have mastery of the place, and if that person can provide you with at least the basics of information so that by entering the place you can get a handle on the internal ecosystem, and everyone you will meet. This is a metaphor used to make you understand how those who wish to become investors should act. Before you enter a certain market, it doesn’t matter only the advantages that investors tell you with enticing promises, you must know what you are entering, it is important to learn and understand at least the basics so that you don’t make mistakes with your finances.
87% of people who decide to enter the financial market, especially the cryptocurrency market, enter the wrong way and lose money. The rise in the price of Bitcoin, which reached as high as $68K in November 2021, has caused thousands of newcomers to put their finances at risk. Many beginners led only by the speculations of people who neither know nor understand the market and the crypto ecosystem, were lured into buying Bitcoin at the price of $68K and when Bitcoin dropped to $48K, many of them sold scared and lost about $20K for lack of knowledge.
“Today a unit of Bitcoin costs only $29.7K, but nobody wants to buy it and keep it in their wallet so that when it reaches the price of $68K, they can get a profit advantage. “ but the certainty is that after Bitocin starts gaining profit margins, millions will be spending their finances to buy the largest Cryptocurrency on the planet. A real mistake…
For example: if someone bought $200 Bitcoin today when the price of Bitcoin reached $68K, that person would have about $460. Now if someone bought $1,000 Bitcoin today, as soon as Bitcoin reached $68K the $1,000 will become $2,300. The vision of an investor is to look into the future, and looking into the future is not just to go out there buying without at least understanding how things work in the market.
Stop making mistakes, do a little research about the market, watch free videos on YouTube about financial education and the cryptocurrency market, and if possible pay for mentorship to learn the secret of cryptocurrencies, so you can multiply your Capital in a safer and more fun way.
The time to buy is now, not when it is rising in price.
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