Jump to content
JacksonPalmer

The biggest lesson you've learnt from Bitcoin investments

Recommended Posts

I've been recently wondering what people have learnt in their time of investment either in crypto or in other businesses.

I'll start by commenting the one lesson I've learnt when it comes to investments generally.

The Uncertainty Factor:

Investment always have element of uncertainty. Its always based on speculation of success which may sometimes go totally wrong though.

So, it's always a game with two tails....success and failure. Basically very similar to gambling. Even with the biggest research you can still be wrong at the end.

What is your own big lesson after investing in crypto?

Share this post


Link to post
Share on other sites

A long hold for bitcoin and wait for it to reach a very high price for me isn't that great since its price is volatile. I learned to divide my hold into two for long term and short term. Once satisfied with the price I sell my short term and buy back again when its price lowers again so that I will not miss some profitable times when bitcoin goes up and down.

Share this post


Link to post
Share on other sites

On the topic of scheme sites, don't trust cloud mining ones either! Wasted a chunk of change early on a cloud mining site - fortunately, I learned my lesson without wasting too much.

Even if they're legitimate, your ROI is depressingly long...just hold the BTC, and you'll probably profit more.

Share this post


Link to post
Share on other sites

The lesson I learned is never put all our money in one investment. I had invested all my currency in a coin. The price of that coin became unexpectedly low and i lost about 90% of my investment. I could have done better if I invested part by part in other coins too. And also we should invest the amount of moneh we afford to loose. Good luck mates.

Share this post


Link to post
Share on other sites

I've learnt, never to panic. Don't buy bitcoin when you are seeing the price is going up, because you will see the price dumping then. Try to understand the market and take action before the time.

Share this post


Link to post
Share on other sites

First of all, waiting for success. When you play with crypto you should be calm and don't get in panic when the market fluctuates...

I regret very much that I did not invest in Bitcoin  in early 2020, when I had enough free savings for this,but now that's all in the past. Bitcoin can be a good investment if certain conditions are met, but for this you need to have some knowledge of this volatile market and the ability to wait. Unlike gambling, real profit here can only be obtained after a few years.

Share this post


Link to post
Share on other sites

Do not listen to others and think with your own head. It sounds corny but it really is. I just bought the first bitcoins thanks to a friend. After his advice brought me great losses. Now I listen to the opinions of experts, analyze the market and draw conclusions. 

Share this post


Link to post
Share on other sites
Posted (edited)

The most valuable lesson I got from bitcoin trading- is not keeping only one cryptocurrency in your portfolio. After the BTC price fell this summer, I lost around 300000$, but I still hope that the price will rise back to 50000$ at least so I can sell it and buy stocks. I don't have more trust in cryptocurrency anymore. I'm currently looking to invest in some stocks and the real estate market. I found an interesting article about the best brokerages here https://www.youngandthrifty.ca/the-ultimate-guide-to-canadas-discount-brokerages/. Can anybody from this forum tell me if they are any good?

Edited by criterianja

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×