5 Bitcoin Investment Travel Plans Analyst Recommendations, Turn Losses Into Profits
Bitcoin (BTC) has received significant attention and investment in recent years, but not everyone has found success in the volatile crypto world.
Some people have lost everything they had, while others have made significant gains.
If until now you have struggled to make money with Bitcoin, then you are not alone.
A top analyst with the pseudonym CryptoCon on Twitter says that there are 5 ways to change your journey, namely:
Stop Trading
Trading can be interesting and potentially profitable, but it can also lead to significant losses.
The successful trading strategies that investors recommend are tedious, with a 40-50 percent success rate, and involve risking a tiny percentage of your portfolio (1 percent).
Anything beyond that is gambling. Instead of trying to beat the market, consider a buy and hold strategy.
Stop Listening to the Narration
Many people believe that Bitcoin is indestructible and will reach US$1 million, making it a safe haven for inflation.
While it's important to have a positive outlook, these narratives can lead to unrealistic expectations and poor decision making.
People who rant about this crap can't sell, so stop listening to them. It's fine to be optimistic, but it's important to stay realistic.
Stop Being Lazy, Start Learning to Read Data
Many people rely on other people to interpret data for them, which can lead to biased information. Therefore, understanding the facts and closing your ears to bullshit stories can help make the right decision. Don't be lazy, learn to read the data and interpret it yourself.
Start Selling
Dollars are not a bad thing, and you probably used dollars to get Bitcoin for the first time. Selling can help you earn more Bitcoins and improve your financial situation. Even with imperfect taxes and exits, the sale can be worth it in the long run.
Stop Setting Price Targets
Waiting for the perfect conditions to buy or sell can be the easiest way to never make money. Instead, look at long-term data to make informed decisions. Avoid setting unrealistic price targets that may never be met.
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