Do your own research!

We have all been there, especially at the start when we were newbies, we are browsing forums and articles and we come across a seemingly well informed individual telling us to sell a cryptocurrency because it is tanking. The internet is a wonderful place full of wonderful people, however this is no way of telling who knows what and how. It is easy to write a compelling article about how we should be panic selling all our bitcoin because it dropped by 12% last night!

I cannot tell you how many times I have seen the following:

Followed of course by people running around like headless chickens panicking about how they have lost loads of money. I am sure a lot of you recognise what I am describing.

A lot of times these graphs show incredibly short time scales of an hour or half a day, and most of the time are not representative of anything apart from simple variance. Lets look at the same graph but over a one year time scale:

Suddenly life doesn't look so bleak does it? One thing is for certain, trend is always more important than variance. I can only imagine how many tens of millions of dollars was lost by people during any of the several minor drops in that graph. I wonder how many of those people were told to sell low by a forum friend or on social media.

Conclusion

I am not suggesting that the overall trend of any asset is ALWAYS up, and I am not suggesting that it is impossible to lose money with bitcoin, I am simply trying to put the message out there that during the lifetime of any given asset, it's value fluctuates daily. Panic selling will almost always lead to loss over time and the most importing thing of all: do your own research, read the charts yourself, read articles and posts by multiple sources and make sure those sources are at least educated on the subject.

There you have it, friends! Please upvote and follow if you enjoyed this post and like always,
happy trading!

Viking