Reasons for newbies loss in bitcoin

[lepbagong]

it is very unfortunate what experienced by beginners with the loss of their bitcoins, but what happened today can be an experience for tomorrow don't easily trust anyone we don't know because the bitcoin system has no name doubling or multiplying bitcoins which will become bigger as beginners imagine, I don't think this will only happen to beginners but will also be very vulnerable to the possibility that investors who are long enough will also lose their bitcoins

fraud perpetrators will obviously not sort out who will be targeted for fraud, so it is possible that old people who have been in crypto can also be tricked like newbie players in crypto.

fraudsters have indeed made this method a livelihood that will always be done because the opportunity is always available, maybe even now via telegram is the most vulnerable to being able to commit the most fraud.

It's very unfortunate that there can always be events that will happen at any time even though you may have taken quite a careful action, there will always be updates in doing that action, so always stay alert and don't be tempted by any help.

[Traderbtcc]

Newbies lose money in bitcoin because they have no patience, they expect to get rich in a short time & if the price goes down a bit they sell at a loss which is the worst thing you can do.

Lack of patience is definitely one of the reason, since bitcoin can't pump 1000x in a short time like those shitcoins around, newbies want to get rich over night with crypto and there's no other way for them to get that except they try buying those shitcoins which in the end they eventually get rekt by it, noobs need to understand that no one who has ever invested in bitcoin and held it for a long time has ever recorded any loss, but we can't really change their mind to see things in our way, so it's up to them to choose Btw getting rekt by shitcoins or holding btc and earning profit in the long run.

[Golftech]

Very true. More newbies in Bitcoin are so disparate to invest without knowing what they are doing and the possible risks. They are thinking to become one day rich or quick rich mindset. But no. Yes sir, you are correct. Knowledge is important to stop crying if whales control the market or if the market dump.

Such mindsets broke many newcomers to this market, the volatile nature of bitcoin lead those uneducated investors to lose

there hard earned money, knowledge is very important for those with no idea of the business that they are working with, the chance

of being scam or being moved by whales is very possible to happen.

So you think that education is the holy grail against losses in the most volatile market of the entire world? I doubt that a lot and it is not only newbies who are losing money. There are also pros as you would probably call them. Bitcoin can't be treated like other investments as it is unregulated. There could be a hurricane of regulation tomorrow, when you wake up. It might have been dumped to oblivion while you are sleeping. It is not that simple as you put it. I would consider myself experienced and yet I made bad trades as well. In my opinion that is quite normal in such a volatile market, volatile in terms of price and in terms of news.

in a trade, even professional traders sometimes lose, and that is a natural thing considering the market is not always what we planned. and to survive in the market, we must measure the risks and rewards before trading, after that we must be disciplined in the analysis, I think this is what beginners don't understand, where they don't know how to stay in the trade

And that's how education comes into the picture. Trading without knowledge is something like gambling with your chances,

You need to have proper guides and sets of information to follow in order to expect and predict what might happen next.

newcomers with no idea of this market often losses their money because of a lazy way of thinking, investing thru influenced of

someone who has good understanding which is far in result as those who have knowledge can easily adjust while newbies

don't have that capabilities.

[nightxglow]

beginners often lose bitcoin because of point 1. I think this is because beginners only see the movement of the bitcoin increase chart in a short time without thinking about the long term. so it's easy to get stuck in the opinion phase, get rich quick. this is wrong, because in crypto everything requires a process and there is no instant rich

But disregarding that reason, I think it's more of the impatience that causes them to loss money, they panic when the prices are going down which ends up with them having to sell their bitcoin at a lower price because they're scared that it will only go down to that point. Plus, there's the short-term mentality of the newbie, they don't exactly think at the grand scheme because they're scared that it's all a scam at the end.

lack of knowledge about bitcoin. people will loss their fund because of their reckless to respond what if that state come to them. newbie need guidance from expert to do the next move. most of them will panic if bitcoin price fall.
and im not sure if people will follow unknow people to decide something important.

Right, the lack of knowledge regarding bitcoin sure is what made them experience loss, mostly. They might not understand much about bitcoin situation, the trend, the volatility and such, and for those people, they are being so afraid even if the price fall only a little, or fall quite much for short time. They will be panic and then most of them will panic selling, which will make the price decline even more, and more people will complain about their loss and such. Only if they understand that bitcoin can be really volatile, trust it enough and never sell in panic, of course decline won't happen, and the price will slowly increases back again. Really, people need to learn more before investing though, to avoid making mistakes that can be prevented.

[oktana]

I agree with number 1 and 3! These newbies think that because Bitcoin has risen so high compared to the past decade and has made people millionaires, that it is a pattern for everyone who buys Bitcoin. LoL. It's obviously saddening, in most cases, I try to explain that in as much as you can become a millionaire overnight, you could go to zero the same night. Volatility doesn't care if that was your savings or not. Also, most of them happen to buy because of FUD which can be bad. It can get really bad because they do not do proper research but rather jump in because it's trending and they are scared that another set of millionaires are about to be created and they won't be among. In cases like this, I'll advice we help them out. Because such actions lead to loses and then regrets, and then, they start bashing Bitcoin saying that it has taken their money or so.

[Kayum10029]

As newcomers have no knowledge of trading and investing, they face losses in various ways and their cryptocurrency is lost. He must have a market relationship before newcomers come to cryptocurrency Must acquire knowledge well. It is often seen that newcomers unknowingly invest in a scam project which is followed by a huge amount of launches and invest in a scam project which is followed by a huge amount.

[DibiaVxosis]

No doubt this are the pure reasons to which newbies lose to bitcoin, if there follow the due process by acquisition of knowledge there won't be no much losses, being informed helps us to be able to maximise our profits and limit our loss. It's better to learn and be informed before jumping in to the crypto space to avoid unnecessary loss or doing things ignorantly.

[Hughes_Ryan]

1) People think Bitcoin as tool to become rich overnight

I think this is the main factor causing newbies to lose. Most people have only seen and heard, but they cannot understand the specific nature and power of bitcoin. Everything has to come from process and time, some people with high time demand on profit will be at a disadvantage, then panic and dump. Ignorance leads to lack of trust and loyalty.

[Shasha80]

1) People think Bitcoin as tool to become rich overnight

I think this is the main factor causing newbies to lose. Most people have only seen and heard, but they cannot understand the specific nature and power of bitcoin. Everything has to come from process and time, some people with high time demand on profit will be at a disadvantage, then panic and dump. Ignorance leads to lack of trust and loyalty.

Many newbies experience losses because they believe too much in other people's opinions, which are sometimes different from the reality.
Therefore for beginners they should not focus on making profits from Bitcoin, but it's better to learn everything about Bitcoin first. So will
understand how Bitcoin works, and will not think of Bitcoin as a tool to get rich instantly. It takes patience if we want to profit from Bitcoin,
because Bitcoin is good as a long-term investment.

[iTradeChips]

If you are going to ask me, it is really the person's lack of knowledge of the investment and their lack of willingness to learn. When you enter the cryptocurrency markets, you must be armed with the basic information of what crypto is and how it works. Then experience will be the next teacher that will give you most of the experiences you need to become a smart trader or investor. You can try to become an investor of multiple coins but that also needs additional knowledge and additional effort so newbies needs to be learned for them to understand this.

[yohananaomi]

As newcomers have no knowledge of trading and investing, they face losses in various ways and their cryptocurrency is lost. He must have a market relationship before newcomers come to cryptocurrency Must acquire knowledge well. It is often seen that newcomers unknowingly invest in a scam project which is followed by a huge amount of launches and invest in a scam project which is followed by a huge amount.

it is possible that what you say is true and does happen most often, but it is not only beginners who experience it, those who have experience also cannot be separated from being done so that fraud can occur. but perhaps the old ones have begun to understand and are very careful to accept what they can from unknown information or give attractive but unreasonable gifts. so it is true that beginners in crypto experience it the most to be tricked by fraudsters. although it could be that the old can also experience maybe the portion is smaller. but fraud seems to have become a routine nowadays and it has become a separate job for them.

[Ziskinberg]

Well, the BTT forum is huge and full of interactions learning but it wasn't needed for you or your friend to be active and visit frequently. We know that this is not the only source of information when it regards trading, you can still make a search online or watch Youtube. It is really time-consuming but can't deny how it helps to build a strong trading foundation which I believe was lacking for newbies.

That's why I always recommend to my friends who are studying to stay active in forums like this. So that all can learn from each other from the experiences of people who have been long and successful . At least to get information to avoid things that are detrimental fraud.

Even we have all the learnings and trading tools still, we can't assure that we gonna be at profit then, sometimes we got unlucky and losses come as a part of our trading life.

[MFahad]

As newcomers have no knowledge of trading and investing, they face losses in various ways and their cryptocurrency is lost. He must have a market relationship before newcomers come to cryptocurrency Must acquire knowledge well. It is often seen that newcomers unknowingly invest in a scam project which is followed by a huge amount of launches and invest in a scam project which is followed by a huge amount.

I don't know who tell newbies that bitcoin is a quick rich scheme that can make them rich over night. When you come up in bitcoin with this approach you will get disappointed soon and also lose your money.

[suryana]

As newcomers have no knowledge of trading and investing, they face losses in various ways and their cryptocurrency is lost. He must have a market relationship before newcomers come to cryptocurrency Must acquire knowledge well. It is often seen that newcomers unknowingly invest in a scam project which is followed by a huge amount of launches and invest in a scam project which is followed by a huge amount.

I don't know who tell newbies that bitcoin is a quick rich scheme that can make them rich over night. When you come up in bitcoin with this approach you will get disappointed soon and also lose your money.

True out of nowhere such a perception that mentions bitcoin can make them rich quickly. whereas all required process , learn from the experience of oneself and others .

[Kong Hey Pakboy]

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lack of knowledge about bitcoin. people will loss their fund because of their reckless to respond what if that state come to them. newbie need guidance from expert to do the next move. most of them will panic if bitcoin price fall.
and im not sure if people will follow unknow people to decide something important.

That's exactly what I meant by the impatience, they get reckless which ends up with them doing stupid decisions that caused them to lose their money in the process. Lack of knowledge can easily be solved, just read more and you're good to go, on the other hand, impatience needs to be trained and you must have the will to remove that impatient behavior.

[bitzizzix]

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lack of knowledge about bitcoin. people will loss their fund because of their reckless to respond what if that state come to them. newbie need guidance from expert to do the next move. most of them will panic if bitcoin price fall.
and im not sure if people will follow unknow people to decide something important.

That's exactly what I meant by the impatience, they get reckless which ends up with them doing stupid decisions that caused them to lose their money in the process. Lack of knowledge can easily be solved, just read more and you're good to go, on the other hand, impatience needs to be trained and you must have the will to remove that impatient behavior.

Reading is the most basic means to achieve a good life and will have good knowledge for the purpose of a better life, bitcoin is indeed a very promising investment and but still must be based on sufficient knowledge before doing it.
Most beginners are lazy to read to find out how bitcoin works and don't realize that the best options for bitcoin are medium and long term and not short term or get rich quick schemes, and there is a process to make good profits and also have to know when to buy and sell at right time.
Getting involved with bitcoin requires enough knowledge and strong patience to produce good results, be a smart beginner and don't follow people or news that makes you careless, do your research and studies well so as not to make mistakes and harm yourself by carelessness.

[rodskee]

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lack of knowledge about bitcoin. people will loss their fund because of their reckless to respond what if that state come to them. newbie need guidance from expert to do the next move. most of them will panic if bitcoin price fall.
and im not sure if people will follow unknow people to decide something important.

That's exactly what I meant by the impatience, they get reckless which ends up with them doing stupid decisions that caused them to lose their money in the process. Lack of knowledge can easily be solved, just read more and you're good to go, on the other hand, impatience needs to be trained and you must have the will to remove that impatient behavior.

but some of them are not impatient but instead diving into market without complete learning and knowledge meaning they are the usually loser in the market while whales are starting to bag money.
those newbies that had been lured inside the market because of the easy to be rich scheme in which they enter without analyzing .
and many of them are those desperately needed money because of the pandemic and not knowing the risk of what they are entering .

[yayayo]

That's not the only reason there's a lot of things which includes lack of knowledge and fall for scams, trying to enter trade without any knowledge and they don't know what they're doing and of course a lot of things like participating to DeFi that's a scam for easy money, ICOs that has no actual use at all and many more.

ya.ya.yo!

[carrigan]

I really agree with point number 3, this often happens because beginners are still unable to control their emotions. Especially with unstable market conditions, this of course makes them easily confused and panicked to buy or sell their coins. Plus if it turns out that the coins they buy are at a high price and the market actually drops dramatically. Circumstances like this usually make them panic and sell coins at low prices.

[Theones]

Bitcoin is not just about buying at dip and selling at high, those who enter with this mind set ends up losing there money. I myself tried many times day trading (due to my greed) and ends up losing my money. You can earn profit in bitcoin if you have the patience to HODL for long period of time. As OP said, bitcoin is not about becoming rich overnight.