Observations

I've been involved with cryptocurrency for one full year now, and I've seen the same things happen over and over again. At times, the price of Bitcoin and several other cryptocurrencies will surge. When this happens, you'll see articles about dudes selling their cars to buy Bitcoin and dudes selling their Bitcoin to buy cars. These articles are written by apparent "experts", who came out of the frigin' woodwork to criticize us all for not buying more when the price was lower. They'll claim if we don't buy now, we'll miss out on the investment opportunity of a lifetime. This, in turn, continues to pump the price up.

Other times, however, the price of Bitcoin and several other cryptocurrencies falls. When this happens, you'll see articles that make it seem as if we're entering an apocalypse. These too seem to be written by "experts". These experts claim that they could foresee the Bitcoin crash coming from a mile away, and all those who invested in it should prepare to suffer agonizing losses. This, in turn, continues to push the price down.

Here's a fun graph showing what most individuals go through when the price of Bitcoin falls a bit:

My thoughts

My thought is that nobody can accurately predict any cryptocurrency market, no matter their knowledge, experience, or qualifications. Most "analysts" can accurately predict something given enough time, but no company or individual I've seen has been able to predict anything with significant accuracy. In fact, the only benefit most cryptocurrency analysts provide is reassurance of gut-feeling.

For example, when I was just starting out, I would scour the internet for price predictions for this and that coin. If I stumbled upon a graph/article that didn't align with my thoughts, though, I would back out of that article and find another that better matched my thoughts.

That's why most analysts seem to do so well, in my opinion -- because investors want hope that the coins they invested in are going to go up in value. Inversely, sellers want hope that the coins they sold are going to go down in value. Regardless of the side you fall on, there are only ever two side, and this makes it very easy for analysts to make "accurate" predictions. I mean, you have a 50/50 shot at "predicting" the correct outcome. Even if you only follow two analysts, as long as those analysts are predicting the opposite outcome of the other, one of the two will be correct. Again, that all being said, analysts simply provide hope and reassurance, not accuracy.

My Reason For This Post

The reason I want to post this is because the media can cause a lot of harm. The media makes people act irrationally and illogically. I just want you all to be safe when they're investing, and I don't want you to hastily throw yourselves in a dangerous position because of a well-written article. So, please do your research, and whenever you're doing your research, make sure you take the time to reflect on what you've learned, so that you can make your own decisions based on the facts you've been made aware of. I usually do the following when I'm researching cryptocurrency:

1. Read 10+ articles from a variety of sources and timeframes. This ensures that you're getting the most unbiased information. If every article you read was written within the same day as each other, chances are, the majority of them will state the same thing.

2. Make sure you find articles addressing both sides, the good and the bad. If you read five articles all discussing the positive aspects of a coin, ensure you do your due diligence and seek out five articles discussing the negative aspects of that same coin.

3. Finally, take a step back from your research, and think about what you've read. Let your emotions settle, and determine what you think is best based on the information you've gathered.

I Hope This Helps

I hope this helps some of you out! If this does help any of you out, please share with your friends, and help them protect themselves. Please, let me know if you have any questions. I would love to assist you in any way that I can. If you're looking to invest in cryptocurrency, you can signup at Coinbase or Binance (both affiliate links). If you're against using affiliate links, I'm not offended in any way, and you can use the following two links: Coinbase and Binance. Both of these exchanges are my favorites, Coinbase for Bitcoin, Litecoin, and Ethereum, and Binance for several altcoins.

If this post has entertained you or helped you, please follow, upvote, resteem and/or consider buying me a virtual slice of pizza:

BTC Wallet - 1soLg1LvBeziwzV1MX1RqaCco1B413LQ8
BCH Wallet - 15uhdzZvhHEEtZhtUCdSQZcJNahvC4ZnE2
ETH Wallet - 0x9962b39345388221478901D19A5657464F542445
LTC Wallet - LSURN6E6NHC3WxGduGM1wbLAbabKR9Veks

Legal Disclaimer: This is just my input, and these are some tips that have helped me along the way. I am in no way telling anyone to invest, but if you do, please do it responsibly.