Enter the market with a loss mindset~what you can afford to lose

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Enter the market with a loss mindset~what you can afford to lose

Because no one knows for sure, which price is the bottom and which is the top?
We can just buy at the price we expect to be the bottom and take profits at the price we expect to be the top.
No one wants to buy at the top and sell at the bottom, the act of buying and selling comes from your judgment and results in the best answer, not a right or wrong argument in the market.

Last December 4, 2021, Bitcoin had a bad drop from ATH to $42,000, down nearly 40%, and many Altcoins dropped 20-30%, for many investors, this is really like like a nightmare. but calmly looking back, this is not unusual for the crypto market.

From August 2021 to the end of 2021, everywhere you go you will see a lot of people predicting bitcoin will reach 100k – 200k, then most investors just buy more, not sell. But as a result, we have seen, that bitcoin keeps falling in price.

Cryptocurrencies are always like that, it feeds us every day, fattening us up and then eating us with subjectivity and confidence that we are smart enough to beat this market.
But no, capital management is ultimately still iron armor to help us survive in the market for a long time.

Bottom or top is valid only when we have a sell action.
It is the price at which we sell that determines whether the order is bottom or top.
Prices always fluctuate over time and never stand and no one can predict the top or bottom price 100% correctly,
So, when entering the market, prepare yourself not to give up.

Lakshitha Kumara Asked question August 13, 2024
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