10 Common Misconceptions About Cryptocurrencies Trading and Investment
Check this list and save your time, money, and energy.
The cryptocurrencies market is cruel. If you do not know the basic rules and tricks, it will eat you alive. You can easily be manipulated and lose your investments, in no time.
No matter if you are an experienced trader or a newcomer, you may get trapped. It is all about emotions and how you manage them.
The good news is you can educate yourself about the psychology of the market. That way, you equip yourself against storms and uncertainties.
Let's review some of the most common misconceptions of this market!
Misconception #1 — Buy and HODL!
You hear most of the time people recommending: Buy and accumulate coins, wait until you see gains in 5, 10, or 20 years, retire on crypto.
The simplest investment recipe, No?
I wish it was a feasible strategy. Unfortunately, it is not always.
Well, it is — if we are talking about bitcoin or probably ethereum. For all other coins, you need to think twice.
I extracted a historical snapshot of the top 100 cryptocurrencies in 2015.
