Fellow crypto traders, speculators, or whatever you want to call yourself, listen up.
For your reference, I’m writing this at a moment of holding BTC, LTC, XRP, XLM, IOTA & Electroneum.
I am not writing this from a position that I believe I can sway the market one way or another, y’know, like every other FUD or Moon comment on eToro seems to think it can do.
I am writing this from a non-emotional bias to any coin, but a very emotional bias of feeling sorry for people that are getting caught up in the December craze and now feeling nothing but doom or gloom coming in to 2018.
I’ve heard the following, over and over again…
- “X is a $hit coin, get out before it goes to zero!”
- “X is centralised, it’s for the banks to make money and no one else!”
- “X is a store of value!”
- “Bloomberg says this….” … “BBC says that…”
Ask yourself these questions…
- Why would someone to tell you to stop trading coin ‘x’? What is their motivation?
- Centralised? Are you sure? What difference does it make from an investors point of view, even if it is?
- Why does a certain coin now call itself a ‘store of value’ when it’s original purpose was something very different?
- You get your news from the mainstream media? Excellent. Hey look, that guy who just wrote an article for crypto was an expert in health last week and before that, he was an expert in the toy industry. Bizarre, maybe he’s not an expert after all, perhaps he is a copywriter that makes money from being a typing monkey?
- Unrealised profit means NOTHING. It doesn’t matter if you are hugely in the green, or way down, deep in the red; it is NOT a PROFIT or a LOSS until you close those trades.
But above all…
Do Your Own Research
I *use* to spend all day watching the eToro community discuss crypto, online fights breaking out here and there with “your coin is $hit – Mine is going to the moon!”, etc, etc. *Sigh*. Kill me. People suck, don’t they?
How do perform your own research:
Step 1. Before you can complete any research, you need to be coming from a non-bias stand point. That means, any unfounded thoughts about the coins you hold, or that of your friends, colleagues or online communities, you need to let go of those opinions. Remember, opinions are like butt holes; everyone has one. However, FACTS are grounded, not on perceptions, but on actual evidence.
Step 2. Start digging. Probably best to start with your own coin – if it really is a $hit coin, it’s best to clarify that with your own research ASAP.
Step 3. The research – what it’s not. Again, what makes something factual? It’s not, for example, the Bloomberg writer that says he has anon high-ranking directors in a bank allegedly telling him that “We’ll never use ‘x’ coin”. Facts are NOT soundbites that you keep hearing time and time again.
Step 4. From the horses mouth. You don’t need opinions, you need original sources. You need original sources that are also credible. For example, look at all the bull$hit that came out most recently in regards to XRP being added to Coinbase. There were photos or screens showing dates of new coins being added, etc. For me, I already noted this as insanity and was calling it out from the beginning.
Then, there was the Weiss Report that came out for Crypto. The website went down then the next thing we know is that false screen shots were going around of a leak of the results. Oh please!!!!
When WE found out the TRUE results, we posted the Weiss Crypto Ratings on our website and backed it up with the ORIGINAL SOURCE.
So please, if you’re going to take anything away from this, take this; DYOR (Do Your Own Research)!
CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.