There are many fixed ideas about cryptocurrency investment.
Many people repeat the same mistakes because they are simply not aware of what they are.
10 opinions on cryptocurrency investment according to Yrile:
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1๏ธโฃโข Selling is much harder than buying:
Buying a crypto is simple.
We are lulled by a bullish bias, and sometimes we satisfy a feeling of FOMO.
Selling is much more complicated, as an optimal sale occurs when everything is green, which is not intuitive.
2๏ธโฃโข In a bull run, be careful + narrative > fundamentals:
Liquidity influxes pour into sectors that we call narratives.
It is known that you need to follow liquidity, and it is not necessarily found in projects with the best fundamentals.
3๏ธโฃโข Selling to buy back is not a good idea:
In a bull run, the risk/reward of selling your tokens to buy back during a dip is very low.
You expose yourself to additional mistakes and to buying everything back if you see the market rising too much.
4๏ธโฃโข Hold both leaders and mid-cap projects:
We tend to believe that we need to look for THE gem that will make all the difference.
For 99% of people, identifying the best narratives and buying the leaders will be largely profitable for them.
5๏ธโฃโข Airdrops are bad for the ecosystem:
An opinion to nuance because it depends on the course of the Airdrop.
But some look much more like hidden Liquidity Mining than a willingness to allocate for the purpose of distribution and rewarding investors.
6๏ธโฃโข Most people diversify way too much:
- under $10k: 15 maximum Cryptos
- under $50k: 25 maximum Cryptos
Too many people diversify too much and dilute the value of their knowledge and expertise in the projects they hold.
7๏ธโฃโข You should sell immediately after taking a screenshot of your gains
When you send it to your friend to show him your bag, it's time to take profits.
"If it's good enough to brag about, it's good enough to sell."
8๏ธโฃโข AI and depin will be the biggest narratives of this bull run:
And having mastery of this sector alone could be more profitable than being interested in all the different narratives.
NFA
9๏ธโฃโข A bull run is much harder mentally than a bear market:
Noise, emotion management, fluctuations ..
Surround yourself properly and take care of your mental health, it can be very challenged in a bull run.
๐โข Most investors will miss their profit-taking in this bull run:
I think there will be more people who succeed in finding a x10 than those who manage to exit the market cleanly to realize good profits.
Taking profits is very important.