THE TRUTH ABOUT HOLDING CRYPTO
Trading vs. Holding: It is better to hold because in trading most investors actually lose money. In a 6 month period of training 80% of day traders lost money. So if you understand simple mathematics, it is obviously better to hold and most people are not going to be top traders. In the world of cryptocurrency a lot of people don't even know what it is that they are doing when trading. Crypto is always having new people coming in. Even if you do have experience and understand the world of cryptocurrency you can still lose all your money when a whale dumps in all of their crypto. So with trading there is a lot that can go wrong, an it is just to risky so why even take the risk. Cryptocurrency is in an amazing bull run right now so might as well take advantage of it. Your never going to be able to predict the next major rise or the next major fall, it in unpredictable. Even major events are unpredictable, for example with Ethereum and bitcoin there where days where the market just went parabolic, this is unpredictable and beyond any traders control. When holding your crypto, you don't have to worry about missing out on any opportunities. You don't have to worry about being the guy who sells his ether after making a 70% return when you could have possibly held onto it and made even more money. Many people whoa re coming into the scene are not professional traders either and are going to lose a lot of their money due to their inexperience. If many of them were to look in the past they would have been better holding for example in the stock market if you held your money you would have made a lot of returns.
nice article and its true!
Great post... I talk about and vlog about this quite a bit. You have to ride the waves to make the real money. Crypto is a "long term" investment if you truly want to see wealth from it. Anytime there are crazy dips, I buy to add to my stock pile of the few that I see becoming very profitable in the future.
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There's definitely some true to that. If you don't know what you are doing, set aside couple of bucks each month, throw darts at printed crypto coins list and invest accordingly. With turbulent market like crypto you'll gonna hit a mooning or two sooner or later. I know it sounds like a joke, but I mean it.
However, once you get the hang of trading it becomes similar to chess game. You can't ever predict what is going to happen - you are right about that, but you can move to better strategical position, that might not pay off within an hour, but it might prove to be a solid move couple days down the road. E.g. short lived Altcoing/BTC shorting.
If you'll ever want to learn more about trading, this guy does a pretty good job at explaining it: http://tradersfly.com/