Whenever there is a negative news against bitcoin or any cryptocurrency , then we see many emotional and panic sellers in action selling their coins even though some bought it at a high price. This has led to huge loss of financial wealth and in some extreme cases, bankruptcy. The conundrum, however, is why do we see these phenomena almost every month? Here are some few points:
Manipulation via Fud (Fear ,Uncertainly and Doubt) : many industrial shakers (see my former post about Warren Buffet) sometimes create fud (JP Morgan CEO too ) in order to send panic in the industry and thus take the opportunity to enter the market with their billions buying off from emotional sellers. Reason is that human nature will always make some weak people sell off their investments and later regret it. Therefore, do not fall victim to such schemes.
Emotions: emotion can lead to greed : selling your car to invest in crypto due to FOMO which is dangerous -moreover, emotional selling can lead to financial ruin because of selling off all your investments at a loss due to FUD. Remember that markets do not move sideways rather up and down. Therefore enjoy your gains when it moves up in your favor and be disciplined when it moves down against you-especially when dealing with bitcoin, steem and some top tokens backed with top teams and real project example www.elyte.io (see the crowd sale section of their website for their current crowd sale and join the next best thing-also join them on telegram via their telegram link below).
Due Diligence: Try to do your own research before investing. Make sure that the coin or token has a good website, visible team members and contact information. Moreover, is the project realistic? Is their white paper professionally done and are they working hard behind the scenes to improving any limitations they might have? Do they have active social media group, examples tweeter, bitcoin talk, reddit and or telegram? Make sure that you can at least chat or speak with a management team before investing long-term and thus ignore any down trend due to fuders because the coin or token will always bounce back stronger.
Diversify Long Term: Long term holders make the highest money in crypto space than daily traders especially if you diversify your portfolio long term . Some examples are ethereum lyte ( www.elyte.io) , steem, eos, bitshares, and other undervalued good coins/tokens. These strategies will guarantee you a positive ROI (return on investment) and risk diversification.
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Click here and read my former post: The Naked Truth: What Led To Steemit Sudden Surge In growth?
Hey guys, heard about this new upcoming coin called Ethereum Lyte (ELYTE) , so far price has shot up over 3K% in just a few weeks- even as they are yet to be listed on Coin market cap (coming soon), seems like it might be a real good investment for the future. What are your thoughts? Make sure to check out their twitter page : https://twitter.com/EthereumLyte , website : https://www.elyte.biz/ and white paper or join their active telegram community https://t.co/kAhkvVTPBF where all your questions will be answered.
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Elyte website: https://www.elyte.biz/
Telegram : https://t.me/joinchat/E6tXj0dThqzzjVlWJRuxLw
Facebook: https://www.facebook.com/EthereumLyte
Twitter: https://twitter.com/EthereumLyte
Linkedin : https://www.linkedin.com/company/ethereum-lyte-elyte/
Bitcoin Talk page : https://bitcointalk.org/index.php?topic=2618851.new#new
Reddit : https://www.reddit.com/r/EthereumLyte_ELYTE/
Join the Telegram group for now!