Lessons to be learned from the rising digital currency market in 2017

[grabpopcorn536]

Following expert opinion is the worst idea. I remember Mc Afee who introduced coins to get his commission. Many people have lost money because of the news. He also claims Bitcoin reaches $ 100,000 in 2020.
The real experts they're working on platforms and developing great blockchain applications.
We should learn and equip ourselves with knowledge rather than listening to what others have to say.

[bitsurfer2014]

actually many in 2017 couldn't withdraw their profit because the profit evaporated as the shitcoins got dumped. and some even waited a couple of years to get the profit back but were forced to sell at -80% under their initial entry.

I suppose most of these perceived profits went up in smoke in no time when those pumps immediately dumped especially when traders did not utilize stablecoins such as USDT to protect their portfolio - a lesson that I've learned in a bitter way.

that has been the case for nearly entire 2018 and partially in 2019. you can still find a lot of topics that are encouraging the bagholders to "have patience". there are literary dozens of topics per week giving newbies false hope so that they don't dump while the price keeps on dumping and their losses grow more.
usually they buy into the hype (meaning closer to the peak rather than buying near the bottom) so there wasn't that much profit to have more room for losses either.

as for stable coins, i would be extremely cautious when using them specially if you decide to "hold them" for long term. remember that coins like USDT are centralized altcoins with 0 guarantee of existence in the future. they may very well disappear overnight some day.

I was being stubborn way back then that I couldn't believe my portfolio grew to two digits by just doing sig campaign for a few months, I mean it was insane!

That time I was some kind of emotionally attached to those projects that I didn't feel like dumping them, feeling nothing to lose at all, but I was wrong.

[Debonaire217]

Following expert opinion is the worst idea. I remember Mc Afee who introduced coins to get his commission. Many people have lost money because of the news. He also claims Bitcoin reaches $ 100,000 in 2020.
The real experts they're working on platforms and developing great blockchain applications.
We should learn and equip ourselves with knowledge rather than listening to what others have to say.

Perhaps, these people are influencers and personalities that are already known. But for me, this is still effective if who we are following are the developers of the platforms that will be released in the future. The reason behind this is because developers are the one who really understand and know what service their platform could provide to the people. Compared to just personalities who are mostly paid to advertise a platform. This could really waste the people's money as the services and price they expect couldn't meet their standards.

[Reatim]

Thanks for all of these inputs mate ,though i had already saw what happen in 2017 yet some of your points looks new for me.
and thanks for that enlightening me regarding those points.

2017 is the most unpredictable year this crypto has but still More people from that era dont understand the right way until now how to managed their crypto living.

[Expecto]

2017 was the best year for cryptocurrency market and it taught people so many things. I hope especially that was a good lesson for panic sellers. People should learn acting more wisely when investing in a cryptocurrency.

[Shasha80]

The 14 points you mentioned in the opening post are quite good and quite long to read, but very worth reading, especially for newbies.
There are so many lessons that can be taken from the events in 2017, quite a lot of people are losing money buying Bitcoin and altcoins
at peak prices. But not a few also managed to make quite a large profit, because in 2017 they managed to sell coins at the peak price.
So these two events can be a lesson that cryptocurrency can generate considerable profit if we make the right decisions.

[goldade]

2017 is an unforgettable year in the crypto space. It was the year bitcoin reached its highest value of all time, reaching almost $20,000. I am especially able to relate with what you wrote because I am one of those who made so much profits in the bullish move of 2017 and lost almost all in the hope that bitcoin will always be on the rise.
I remember vividly that there were a lot of predictions that year even from experts. Many claimed bitcoin will attain $50,000 by the end of 2017. They all turned out to be wrong. This contributed to making me lose money.
Thank you so much, OP. I lived through this moment in 2017 but there are several lessons I didn't learn that you've pointed out here.

[arwin100]

2017 was the best year for cryptocurrency market and it taught people so many things. I hope especially that was a good lesson for panic sellers. People should learn acting more wisely when investing in a cryptocurrency.

That's a good lesson though sometimes we should avoid things for looking for more since ai believe many think about continuous pumping when quarter 4 until 2018 but suddenly a blood bath came I lost big amount for that incident that's why I learn to sold whenever I am in profit. Although 2017 is unforgettable moment in crypto space since by that year we see that bitcoin really got a big potential.

[grabpopcorn536]

Following expert opinion is the worst idea. I remember Mc Afee who introduced coins to get his commission. Many people have lost money because of the news. He also claims Bitcoin reaches $ 100,000 in 2020.
The real experts they're working on platforms and developing great blockchain applications.
We should learn and equip ourselves with knowledge rather than listening to what others have to say.

Perhaps, these people are influencers and personalities that are already known. But for me, this is still effective if who we are following are the developers of the platforms that will be released in the future. The reason behind this is because developers are the one who really understand and know what service their platform could provide to the people. Compared to just personalities who are mostly paid to advertise a platform. This could really waste the people's money as the services and price they expect couldn't meet their standards.

Programmers don't matter how much money it takes because they get to do the work they love and the salary is enough to make them live comfortably.
They understand blockchain and what's good and what's not. All is seen through the source code. Their vision is broader than ours and only they can truly enrich the cryptocurrency market through their creativity.
Look at the community, they're too crowded and have little knowledge in it, just a few. so they move the market in inexplicable ways.