Crypto investing mistakes – we all try to avoid them, but they do happen. Sometimes we get over-bullish about a crypto asset, and other times, we hold the assets for too long for the bottom to hit. Investors have lost upwards of billions because of these traps.
Let’s take at the biggest crypto investing mistakes and how to avoid them.
Buying at the top of the bull run
Investors rush through the doors and get ready to buy the crypto asset at the top of the bull run. Sometimes, such runs go for months on end. However, bull runs are not the best times to invest in crypto.
Think about it. Every altcoin goes through a massive self-correction as soon it reaches the top of the bull run. And if history is any indication, self-corrections drive the token price down to a level that breaks through their support and find newer and lower support.
Buying early is everything. Don’t wait for the bull run hit the top. As soon as you’re getting an indication that the price is about to go upwards, buy the crypto asset.
An even better solution is buying crypto during presale events. These crowd sale events give you the first mover advantage, and when the token gets listed on a popular crypto exchange like Coinbase or Binance, you can make high percentage gains.
Here is an investment tip for you: Battle Infinity is currently going through a presale. The IBAT token sale crossed the low cap threshold within a week and has raised $1.15 million till now. So, if you’re looking to get that first mover advantage, this presale is the train you want to onboard right now.
Checkout Battle Infinity Presale
Bag holding all the way down in the downtrend
It is something that we have seen a lot in the bear market. People are just waiting for the bottom to hit. While buying the dip is an excellent strategy, bag holding till the end of days isn’t. Many crypto assets have formed a wedge pattern – signaling a breakout.
But even then, investors are holding their assets – waiting to extract that extra ounce of profit from their crypto coins. The truth is, the bottom in the crypto market exists for merely seconds. We have seen many tokens that reached their bare bottoms in 2022 and then bounced sharply. It all happened within seconds. And sometimes, the bottoms are so bad that the token becomes worthless.
Don’t wait too long all the way to the downtrend. Find ways that don’t force you to wait to make gains.
So, what’s the answer? It is a pre-sale. Cryptocurrencies like Battle Infinity are going through one. Getting it will give you an early mover advantage. Also, getting in early will help you follow the roadmap and know exactly when the token can make the most gains.
Buying on Leverage during the Bear market
One of the most rewarding and riskiest ways to earn from crypto is trading on leverage. While it is nice to be tempted to borrow funds from a cryptocurrency exchange and use them as leverage, your profits won’t be maximized, especially in a bear market where the volatility hits more red candles than green.
The solution lies in buying early. For one, you won’t be tempted to get rich quickly on leverage – which is a slippery slope. When you’re trading in crypto, you must be part of a community – which makes you capable of way more growth than what you can gain selling and exiting. Secondly, having the early mover advantage means not dealing with volatility.
Check out the Battle Infinity Presale. With one BNB, you can get 1,66,666.66 IBAT. The tokens’ use case has the advantage you need far exceeds the gains you can on trading on leverage.
Not Planning Before Investing
The crypto market is fast. It is rapid and has more in common with the wild-west than traditional trading. Historically, it has made unprecedented gains that sometimes exceed 3400x. However, it has also caused losses – think of LUNA before the Terra crash.
The reason for these losses is the lack of proper planning and research. You must know how much risk you can take and how long you should hold. That is why investing in a crypto asset before it lands on cryptocurrency exchanges is better.
The starting value of any crypto is less, and the pumps are bound to happen during the listing process. Therefore, keep a close eye on the crypto presales to find crypto investments you can get into early.
FOMO: Fear of Missing Out during a Bull run
When the crypto asset is riding the wave of the crypto market, reaching highs, a feeling sparks in a novice investor: What if I miss this opportunity? What if this is the right time to invest in crypto? FOMO, or Fear of Missing Out, is the primary reason many lose money after the bull runs.
Don’t give in to FOMO. Watch the market. If you see a token is going high, wait for the correction, and then wait a bit longer. Many altcoins go through multiple stages of retraces, especially those that don’t have anything other than marketing hype to back them up.
Conclusion
How to avoid crypto investing mistakes? By getting in early and research before devoting your hard-earned money. Take advantage of worthy crypto projects that are going through crowdsale. Plan your investments, and don’t give into to fear of missing out.
Read More
Battle Infinity – New Crypto Presale
- Presale Until October 2022 – 16500 BNB Hard Cap
- First Fantasy Sports Metaverse Game
- Play to Earn Utility – IBAT Token
- Powered By Unreal Engine
- CoinSniper Verified, Solid Proof Audited
- Roadmap & Whitepaper at battleinfinity.io
