The Double Edged Sword of Cryptocurrency

[Hatchy]

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At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are.

Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.

[Legion]

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At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are.

Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.

However, the most crucial factor to consider when it comes to the management of investments in the crypto market is to be disciplined and strong not to be influenced by any form of pressure to invest or even emulate others. People are also unique in terms of the amount of risk they are willing to take and what sets apart success is not following everyone blindly, but making choices that result from analysing information and risk. In other words, avoiding this FOMO, we will keep the focus on the investment goals and make sure that the decision made after such interval will be less the result of impulse and more due to the solid plan.

[laijsica]

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At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are.

Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.

It is important as an investor to choose the right currency like Bitcoin to keep yourself free from crypto hype. If the investor accumulates bitcoins in his portfolio at regular intervals, he can have a huge bitcoin holding with uninterrupted and long-term accumulation trend which gives him a positive bitcoin stack for every market related negative news which can give you huge profits. Depositing regularly means you are keeping yourself away from the hype and is an investment strategy for the bold investor.

[Mia Chloe]

Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.

You've nicely captured the problems most newbies in the crypto ecosystem face. The courage as an investor to be able to resist FOMO is crucial to avoid things
like getting swept away by hype and peer pressure. I believe the earlier a crypto investor is able to understand this the lesser he's likely to fall for scams like pump and dump projects.
Effective risk management is key. Understand that not everyone profits. it's kinda like a zero-sum game. You have to always be sure of why you are investing and not just diving into investing simply because everyone else is doing it. Those who manage risk effectively are more likely to avoid falling for FOMO.

[vegasus]

Effective risk management is key. Understand that not everyone profits. it's kinda like a zero-sum game. You have to always be sure of why you are investing and not just diving into investing simply because everyone else is doing it. Those who manage risk effectively are more likely to avoid falling for FOMO.

This is indeed what makes the difference, with effective and wise risk management, the results will be much better. It's just that, to have these tips, knowledge is really needed. And this is what often happens to beginners, where they don't have the knowledge, don't have effective risk management, then they immediately enter to innovate, without studying first, or at least getting to know it first.

because of what? because of FOMO, because of the habit of people when they see other people succeed, they will immediately be interested in wanting to be like them, as soon as possible. So when they feel there is an opportunity for that, they don't even think long and immediately enter, without knowing that it might be a scam or shit projects.

[Z-tight]

Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.

[PX-Z]

Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them.

This is always the case, only the OG and strong community, and widely supported by developers remains due to its strong foundation, etc.
Those coins that only made on hype, no use case, only used to build up money will cease to exist soon. Unlike the coins that are widly used for different reasons like payments, transfers, smaller fees, fast, decentralized, etc will remains longer.

[bitterguy28]

many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.

even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss however it is a much safer option than new projects who have no real world case with bitcoin i can be sure that it will not drop down since many are actually using it for payments or transactions unlike other project who are just held due to speculative nature

[Dr.Bitcoin_Strange]

Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.

You’re absolutely correct.
Majority of the projects in the crypto market today has absolutely no substance, nothing other than just hypes, they all survive on just FOMO and excitement, and once the hypes are taken away, they’re left with nothing as they’ll lose their worth.
And it’s jus quite unfortunate that newbies who come into the crypto space thinks crypto is a get rich quick scheme, where they’ll just come in and start making millions, and this mentality drives them into investing in shady projects that promises them the whole world and they invest in these tokens without realizing what a costly mistake they’ve done by not first doing their due diligence and first researching about the project and then they end up losing big time.

[laijsica]

many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.

even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss however it is a much safer option than new projects who have no real world case with bitcoin i can be sure that it will not drop down since many are actually using it for payments or transactions unlike other project who are just held due to speculative nature

Even if the price of Bitcoin goes down, it is very short-term and if you look at the price chart of the last 6 months, you will see this. You can call Bitcoin investment risky only when you use it for short term or attempt to trade. If you can accumulate bitcoins for long term with DCA method, you may be able to reduce the investment risk to a great extent. Keeping a sharp eye on market conditions and tending to buy more during bearish times reduces your risk further.

[taufik123]

many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.

even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss however it is a much safer option than new projects who have no real world case with bitcoin i can be sure that it will not drop down since many are actually using it for payments or transactions unlike other project who are just held due to speculative nature

All crypto projects including bitcoin do have a high volume resulting in faster price fluctuations. This is indeed a characteristic of cryptocyrrency and everyone should know that.
There is nothing better than Bitcoin for the durability of long-term investments in crypto as it all depends on the price of Bitcoin.

Rather than just choosing a new project that is not yet clear, it is better to choose Bitcoin which is more secure and will be more promising to provide long-term profits.
But it is necessary to remember that crypto is not a scheme to get rich quickly, because nothing is instant, everything needs process and patience.

[Report]

My point of view for cryptocurrency is that there are positive and negative sides:

• (+)One side can benefit from various communities, finance, relationships, knowledge, technology
• (-)One side can also get losses from very fluctuating price changes, scammers are rampant

Both sides of the sword are negative and positive depending on our assessment so far of cryptocurrency, it feels difficult to adapt but this is a fact for me personally.

[Z-tight]

even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss

I know that right, that is why you cannot see any post of mine were i said BTC was a get rich quick scheme, i always tell people that BTC is recommended because it has use cases, that is what gives it its utility and makes it different from so many other coins.

However, it is still volatile and if you have bad opsec, attackers can even steal your coins. But you can secure your funds if you know what you are doing and you also would not sell at a loss if you did not buy with money that you need in the short term.

[Agbe]

As a beginner you must understand that the volatility of the crypto market is inevitable therefore you should be well aware of the risks involved in it, you shouldn't be something you start up because other people are doing it. The crypto space is filled with a lot of opportunities but when you are on the wrong side of the market due to lack of knowledge and other factors can make you have series of losses, there are so many to learn and understand in crypto and one important thing to learn is risk management. In the aspect of security you must keep your seed phrase safe if you are keeping your assets in a wallet, the importance of securing your seed phrase cannot be overemphasized.

[TomPluz]

Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.

There is no question that among all options in the world of cryptocurrency, Bitcoin remains to be on top, the safest so far yet we know that it could not anymore bring the x10, x100 or even the x100 ROI many people are looking for. No wonder they are turning to memecoins where there is that chance to get rich even with a very small initial investment...but we know that big risks are also involved as there is no guarantee that a certain memecoin project will really make it...it can even be a matter of gambling for me. Certainly, there are rewards and risks here and it all up to an investor to balance the whole thing to come up as a big winner and not one of the silent losers.