What we all learnt this 2023

[decodx]

👉 Don't take popular opinions as an investment advice.
👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice.

Yeah, we gotta think for ourselves when moneys involved.  What's popular ain't always right.  Social media makes spreading opinions too easy - even bad ones.  Investing like that rarely goes how you hope.

These platforms can provide valuable information and insights, but they're also breeding grounds for misinformation and manipulation. I try to ignore the hype trains. Research and caution have treated me okay so far.

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[Wiwo]

Learning continues,  and what you may think is a bad feature may be a good tool in the hands of another person,  although the points you outline are all very crucial for a newbies who have no knowledge of how the cryptocurrency industry works and wants to invest in it,  majority of those also who are affected with those points have done say because they get carried away with the outcome without looking at the risk also.

But if you as an individual who has a high knowledge and experience take your time to properly analyze and understand those features,  you will have something to hold on to and work with that will give you a desirable outcome,  but in doing that,  you must be very smart enough to identify and utilize their potentials and features to your own advantage.

[jeraldskie11]

I know I'm kinda new here to be giving out advice on this forum, nonetheless I've been on the crypto space for some years now and from my mistakes and personal experience I can say this:

Just because you're new here doesn't mean you don't know enough to offer guidance. We don't know about your experiences, and it's up to us whether or not to take your advices.

👉 Don't take popular opinions as an investment advice. If there is anything I've truly learnt from my time in this forum, is not to follow popular opinions or crypto influencers. Making reference to a trend some months ago about bitcoin price reaching an ATH of 100k this year which is obviously not going to happen because of the current price and market conditions, I guess it would take the hand of God to make that happen and we aren't even sure if we are in a bull run or not.

We should always be open to receiving advise from others, but not all advice is good advice. So, no matter how good the advise in crypto, especially in terms of investment, we should always think twice and conduct study before making a decision. There are a lot of advices out there that we think are helpful for us because they are delivered well, but they are not.

[coupable]

There are so many lessons we can learn from 2023 that it may not be possible to enumerate them all. What op mentioned to is not specific to 2023 only and accumulates over the years, so I think that more important lessons can be drawn.
2023 can be considered one of the most important years in the history of Bitcoin because the treatment of governments and financial systems with it changed after what happened late last year following the collapse of the FTX stock exchange. This was the beginning of a wave of legal scrutiny of companies providing crypto services of all kinds, which forced many of them to stop their activity. This is in addition to the companies that went bankrupt after the FTX collapse, followed by the Silicon Valley Bank collapse. All of these events changed the way we all deal with central companies in the crypto field.

[Text]

You can consider other people's opinions, but it's advisable to conduct your research to verify if it's credible and has a reasonable basis. Don't rely solely on one source of information. It would be helpful to analyze others' perspectives, but balance is key, and don't be too influenced without taking action on your part. You're right, it's not advisable to follow Telegram channels because scammers are present. I'm not saying this based on what others say but from my personal experience. It's still better to follow official and reliable sources. Focus on your main portfolio; it's not necessary to have many holdings. What's the use of having others if you can't monitor them effectively?

[Stepstowealth]

...

This year, one lesson I learn is that mistakes with bitcoins mostly ends in lessons, so instead of waiting to learn lessons from your own mistakes, learn from the mistake of someone else. Mistakes? Yes.

Mistakes with sending bitcoin to a wrong address due to rush.
Mistakes with clicking links you are not sure off, links that were maybe sent to you by friends and family.
Mistakes with over trusting people and talking so much about your bitcoins.

[FinePoine0]

I know I'm kinda new here to be giving out advice on this forum, nonetheless I've been on the crypto space for some years now and from my mistakes and personal experience I can say this:

👉 Don't take popular opinions as an investment advice. If there is anything I've truly learnt from my time in this forum, is not to follow popular opinions or crypto influencers. Making reference to a trend some months ago about bitcoin price reaching an ATH of 100k this year which is obviously not going to happen because of the current price and market conditions, I guess it would take the hand of God to make that happen and we aren't even sure if we are in a bull run or not.

👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice. I know everyone has their decision and perspectives regarding to this but from my knowledge and complaints I've seen on this forum and other sources, most persons ends up with negative experiences from this.
Trading is risky and investment must be done wisely.
I recommend that you get some knowledge so you could do some analysis for yourself and check those signals before using them. This would help you have an idea of the risk your getting into.
Always do a good background check up before investing in any project.

👉 This advice might seem a little controversial, but I think it's helpful. Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.
I think it's far better to have few crypto that you are constantly, than investing violently in so many project.

What I have learned from this forum in 2023 is to make quick investment decisions. If I want to invest I should do it quickly because the Bitcoin market is constantly growing. I learned how to invest in Bitcoin from many senior brothers. There are several methods of investing in Bitcoins, among which the DCA method I follow.  And among the many other things I have learned from this forum, I have cited one reason among many.

[livingfree]

👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice.

This will never get old. As the old timers have already understood that most of them are fake and not worth it to test and pay their premium service.

The new ones will still find their ways in knowing these fake channels and signal services. There's always the newer victims that they're targeting and their market won't be obsolete.

What we can do to prevent it from happening is the continuous giving of reminders that these channels aren't going to help them but instead going to milk money from them.

[GreatArkansas]

👉 Don't take popular opinions as an investment advice. If there is anything I've truly learnt from my time in this forum, is not to follow popular opinions or crypto influencers. Making reference to a trend some months ago about bitcoin price reaching an ATH of 100k this year which is obviously not going to happen because of the current price and market conditions, I guess it would take the hand of God to make that happen and we aren't even sure if we are in a bull run or not.

Among the list, this is the most common issue right now, especially for other people who are just starting and don't know some risks of this.
You can also do this but it is much better to double-verify everything, like don't fully rely 100% on other people's opinions, just use them for some basis and research also on your own.

[bettercrypto]

Everything you mentioned is correct. As long as you continue what you have learned this year of 2023, and as long as I am apart from what you mentioned, what I have learned so far is to never stop learning in the crypto space if you want to succeed here.

Although it is not easy to enter this business field, the important thing is not to stop, study, and deal with what we should know. Be prudent and cautious at all times so that we do not become victims of exploitative people who also enter the crypto space.

[LogitechMouse]

👉 Don't take popular opinions as an investment advice.

Opinions from popular influencers you are saying?

Who are they anyway? They might be popular, but are they knowledgeable enough for us investors to follow what they're saying? Investing in their recommendation is almost the same as suicidal for me. I know it's kind of exaggerated, but these popular influencers don't care about your investment. They only care about money and the money that they can get by advertising some random projects out there. I might be watching some YouTube videos that are crypto-related, but only for entertainment purposes. Take the OP's advice you newbies out there.

👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice. I

3 words. F*ck that platform.
Oh, I only talk about Telegram because I'm not using Reddit, but for me, that platform is full of scammers. Yes, it has been one of the most popular social media platforms when it comes to crypto, but the platform is also the home of scammers. I'm not using Telegram for some reasons, and I don't even fall for these scam attempts, but I wonder how many newbies these scammers lured already because of their attractive words.

👉 This advice might seem a little controversial, but I think it's helpful. Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.

Nope, this isn't controversial, but its the truth.
Diversification is good, but there's always a limit to it especially if you have low capital. If only you have 100$ money, it would be better if you would just invest it into one coin particularly in Bitcoin rather than investing it into 10 altcoins out there. That will not make you safer, and at the same time it will just lowers your profitability. Know when to diversify, and when not to as well.

[BTC_Dragon]

Don't trust influencers, don't trust Reddit FOMO/hype, don't listen to BTC haters.

[2Pizza410000BTC]

I know I'm kinda new here to be giving out advice on this forum, nonetheless I've been on the crypto space for some years now and from my mistakes and personal experience I can say this:

👉 Don't take popular opinions as an investment advice. If there is anything I've truly learnt from my time in this forum, is not to follow popular opinions or crypto influencers. Making reference to a trend some months ago about bitcoin price reaching an ATH of 100k this year which is obviously not going to happen because of the current price and market conditions, I guess it would take the hand of God to make that happen and we aren't even sure if we are in a bull run or not.

What you learned here can be very useful in your life. I believe investing should not be based on the opinions of influencers. You should always invest in your own analysis and personal judgment. I never invest in other people's decisions, I always invest in my own decisions. Many influencers analyzed Bitcoin going from $100K to $100,000+ this bull season. Also yesterday I saw in the news that an influential analyst named JWK predicted that XRP will hit $352+ this kind of analysis makes newbies very enthusiastic about investing so much that they are very eager to buy all these coins after receiving such news. But in this case I think influencer analysis should not be trusted at all.

[Darker45]

This thread probably belongs to the beginners and help section.

Anyway, I agree with your advice. And having been in this market and community myself for years as well, I've also learned them through experience.

Popular opinions often don't last. So popularity can't be made as a basis for one's investment decision. The best time to have invested in Bitcoin was when it was not popular.

Reliance on public channels and platforms is more risky than reliable. Such platforms are full of scams and false experts.

While diversification is generally a wise business or financial advice, it might not apply to crypto where a good and profitable token or coin is like a needle in a haystack.

[Sexylizzy2813]

I know I'm kinda new here to be giving out advice on this forum, nonetheless I've been on the crypto space for some years now and from my mistakes and personal experience I can say this:

👉 Don't take popular opinions as an investment advice. If there is anything I've truly learnt from my time in this forum, is not to follow popular opinions or crypto influencers. Making reference to a trend some months ago about bitcoin price reaching an ATH of 100k this year which is obviously not going to happen because of the current price and market conditions, I guess it would take the hand of God to make that happen and we aren't even sure if we are in a bull run or not.

👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice. I know everyone has their decision and perspectives regarding to this but from my knowledge and complaints I've seen on this forum and other sources, most persons ends up with negative experiences from this.
Trading is risky and investment must be done wisely.
I recommend that you get some knowledge so you could do some analysis for yourself and check those signals before using them. This would help you have an idea of the risk your getting into.
Always do a good background check up before investing in any project.

👉 This advice might seem a little controversial, but I think it's helpful. Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.
I think it's far better to have few crypto that you are constantly, than investing violently in so many project.

Good thing you know your right from your left in the crypto world and is best not to completely agree with those bloggers or influencers we have trying to make every prediction about Bitcoin price getting to a certain amount before the end of this year or before the week runs out, they only do that to promote their channels and let it look like they're the eagle eyes of crypto world.
If you're an investor or trader and you intend to always go with their words without having a strategy then you're not ready to make profit.
Some telegram channels who always talk about having the best signal and they sell it at cheaper rate and it's the best, fine that's how it may look like as the best but we shouldn't rush into what we have no idea of just because we want to make quick money or excessive profit, no.
Patient and getting the best advise from someone (who has the experience for years) who's willing to expand your knowledge on the crypto space without paying for it is what you need to make your experience grow. Scammers are not ready to give up anytime soon so avoiding fake telegram channels would help a lot.
There's nothing bad in putting your money in multiple crypto investment, it helps a lot but knowing where and what you're doing is better than just blindly investing in something you haven't heard of because you think is right to have different form of investment, it works for others doesn't mean it will work for you as well.
We should sometimes reduce the rate at which we take risk while investing, to make research before we start investing reduces the risk, at least we have an idea on what we're doing.

[pinggoki]

Don't take advice as a conclusion but you can look into others' opinions and advice, if you find it helpful or worth giving some thought then you should do implement it. In a general aspect of life, it is good to listen to what others have to contribute or say. But in crypto, people who disseminate information re people looking for buzz online. Such as the crypto influencers on twitter and other social media. I hardly view their post and listen to their podcast. This is because they don't always share the right information. I make my own conclusion and judgement regarding speculations in my portfolio.

That's not how you do advice though, they're supposed to help you formulate your own opinion and they're like a guide towards something that you have to create, kind of like a cookbook, you don't have to really follow what's in there because the seasoning there might not be to your taste so you add or reduce the amount to suit your needs and palate, same with discourse, the opinions will be there to help you not to be a hive mind that only parrots what the majority say but to make an informed decision and opinion that either agrees, disagrees or supports the first opinion and a lot of things.

One thing that I've learned about this year is that you never should sell your soul and being to bitcoin, learn to enjoy life and that if you're still hodling, don't make it your personality to the point that it annoys the people around you because that's all that you're talking about. That's my biggest lesson this year.

[lienfaye]

👉 Don't take popular opinions as an investment advice.

Indeed. It's not good to rely on other's opinions or suggestions. Exert an effort to gain knowledge because it's crucial and a must thing to do if you're going to invest your hard-earned money. Take their opinions as guide and not as a financial advice. Remember that you're still the one in control to have a positive result when it comes to your investment.

👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice.

When I was a newbie I thought this is helpful and reliable. But after experiencing to lose my money, that's how I learned that it is still best to have your own understanding.

👉 Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.

Diversifying is not bad. However, don't make it to a point that you're simply adding any projects in your portfolio just because you would like to join the ride of those quite risky coins that likely to give a huge return in a short period. Always DYOR or stick to Bitcoin if you're not certain what projects are good to invest in.

[Husires]

👉 Don't take popular opinions as an investment advice.

👉 Stop relying on Telegram channels or Reddit groups for trade signals or investment advice.

We can say that it is better to do your own research, which is to listen to all opinions, especially those that you feel you do not understand or opinions that contradict what you see. Then, by analyzing all the ideas, you can reach general lines to know the direction of the market. The only truth is that every 4 years the highest price is broken and bottom of the market is the high of 4 years before halving.

👉 This advice might seem a little controversial, but I think it's helpful. Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.
I think it's far better to have few crypto that you are constantly, than investing violently in so many project.

It is not diversification, but rather dispersion of investment in assets whose value may decline.

[wxa7115]

👉 This advice might seem a little controversial, but I think it's helpful. Stop over diversification, what I call over diversification is putting your money in every crypto project that comes your way.
I think it's far better to have few crypto that you are constantly, than investing violently in so many project.

For those which joined the market many years ago this is not really a controversial advice and instead is nothing more but a fact, new investors get dazzled by all the coins that exist and the promises that the developers behind those coins make.

But once you get used to it you realize that the number of coins in which you can invest is very limited, since the majority of the coins that have been released have no purpose at all or are outright scams.

[fredericktaylor]

I learned that 2023 is an investment period, those who invested in Bitcoin early in this year have benefited a lot because the price of Bitcoin has increased a lot.  I will never tell you that you should sit and invest. Investing in Shitcoins has a high chance of loss. I have seen this year those who invested in Sit Coin are ultimate losers and those who have invested in Bitcoin are still very profitable. Because when the price of bitcoin was down below 20k, pretty much all the coins went down in price, not even a third when sold. Again if bitcoin price goes below 20k like in 2023 then I will hire nibi in bitcoin.