181
Cryptocurrency discussions / Re: Should we share our views on crypto market with others?
« on: January 21, 2024, 09:42:12 PM »The crypto market is abuzz with excitement, and it seems like everyone is talking about it. However, not everyone is profiting from this speculative market. In fact, someone has to lose money. This is a part of the market, but many people seem to forget about the risk of loss or even small losses. This lack of risk awareness is causing me some trouble, as I'm receiving a lot of blame from a few friends.
Every time we make a profitable deal on the crypto market, someone suffers a loss - after all, a deal is two counter offers. At such moments, I always did not understand the people who sell me their altcoins at a very low price. But I prefer not to think about it - my job is to make a profit by buying cheaper and selling more expensive.
Quote
- The 1st friend: We were both DCA into Bitcoin and achieved some profit. However, she blamed me for being too cautious and missing out on a huge opportunity to make a 900% gain with SOL.
It's terrible to inflict FOMO on someone else.
Quote
I realized a long time ago that you shouldn’t give advice on cryptocurrencies to friends. They will never appreciate it. If they have losses, it will be my fault. If they made a profit, it will be only their merit.[/list]
- The 2nd friend: I shared my belief that BTC price would continue to grow in the long run, possibly peaking in 2025. He took my opinion and started buying BTC a few weeks ago at around 45,000 USD. Now, with BTC down by about 7%, he's blaming me for causing him to FOMO and make poor decisions that led to his losses.