What we all learnt this 2023

[Hewlet]

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.

yeah, choose a crypto you want to invest in and stick to it, new project will keep coming and might seems to have good prospect although it won't take long before they become irrelevant, choosing a particular crypto asset is the best advice.

[Blitzboy]

You are right about your distrust of crypto influencers and public opinion! Bitcoin's 100k ATH hoopla was erroneous; market dynamics are more nuanced. This market is unpredictable, so we cant expect linear growth or divine intervention in prices. Your position reinforces that independent analysis trumps herd mentality in crypto.

I completely agree with Telegram and Reddit for trading signals. Following these sources blindly is a disaster. Personal analysis is key to crypto investing decision-making, thus your input is crucial. Knowledge is power, especially in volatile, speculative fields.

Your view on over-diversification is refreshing but divisive. Focusing on a few cryptocurrencies for deeper engagement sounds smarter than investing broadly. This strategy emphasizes quality over quantity, helping one understand and connect with their investments.

[BitcoinsGreat]

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.

yeah, choose a crypto you want to invest in and stick to it, new project will keep coming and might seems to have good prospect although it won't take long before they become irrelevant, choosing a particular crypto asset is the best advice.

If we do proper research before investing in any project / coin, we are in a better position to manage our portfolio. Following the signals and other such shortcut steps won't help you build the portfolio for the long term. Also, most people just keep the altcoins with them and they forget about the potential of bitcoins.

Another thing to learn is to hold the coins for the long term is much more beneficial and buy and sell them again and again for short profits. This means that swing trading is better than day trading.

[dderekwalcott]

I would like to share my personal experience gathering knowledge by losing assets from the crypto market.People have learned to be cautious of popular opinions that are fruitful to all.Sharing knowledge and experiences will build strong bonding with the biggest community that serves great work.I believe everyone has the freedom to express their own opinion.


Proper knowledge : risk management, avoiding scams, market analysis, security, empowerment and long term investment these are the key points to become a successful trader and also successful business man.

Understanding the complexity of Bitcoin and trading helps to understand and manage risk effectively.This knowledge shall allow individuals to make informed decisions and reduce potential harmful steps.

Skipping social media rumour : Avoiding Scams from Telegram , Reddit, Twitter and other media because most of the news we are getting from these.So use experience and knowledge to resist the highest level schemes.we cauld get scammed by other sources but above are the most common place where we get generally scamed.


Learning from mistakes : This is the most important part of my opinion or you can say suggestion.Because it gives you education in hand that you never forget in your life.It teaches us to be a complete successful man in any sector.

Invest renowned tokens and coins: Always invest in popular and big coin like - Bitcoin, Ethr, BNB because they never quit from the market that reduces the big losses.

In short, knowledge is the foundation for making informed decisions, mitigating risk, and navigating the complexities of Bitcoin and trading effectively. 2023 gave me teaching a lot about crypto. I hope it will never happen this mistakes next year .

[This is all about the discussion of my knowledge, experience and my point of view if anyone has a different opinion, this is their rights.I always appreciate others opinion]

[Crypt0Gore]

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 advice but it's impossible to invest in every single projects that come out, you will eventually run out of money, but I will like to correct this, that if you have more than 5 assets in your crypto wallet they will become more harder to manage, and the more you add to your bag the difficult it becomes, but it's impossible to invest in everything, just looking at the numbers of assets in crypto space and how they are increasing everyday it will piss you off.

There is nothing new I learn this year though, just the same old lessons, if anyone tell you that mistakes can be completely avoided it's a big lie, to avoid high transaction fee on Bitcoin I used a fake Bitcoin wallet and I got my wallet drained, I got so mad but got over it later.

Mistakes can't really be completely avoided, but it's better to take time doing anything in crypto space to avoid making stupid mistakes and be willing to take your learning skills to higher level.

[Obari]

One thing you must understand is that nothing is guaranteed in the cryptocurrency industry and that’s why it is always very advisable to Do Your Own Research (DYOR)  I’ve never been a fan of crypto influencers because I know those guys are just after their personal interest and always chase after referral bonuses and I actually don’t see them as trustworthy and anyone listening to them should be doing so at their own risk

I personally don’t fancy signals and though I’m not good with analysis, I still prefer using my predictions and in cases where I have to get a signal from outside, then I have to sure to do more research on that very prediction and signal to avoid blames.

Simply put it that we should stick to bitcoin  and this has always been my advice to anyone who ask me about coin for investment as i actually don’t see any reason to invest in alts except there is some sort of  hope in it

At the end I just want to add that we shiiid only invest what we can afford to loss

[AicecreaME]

I agree.

Though, having some insights from other sources is not that bad because it can help you to broaden up the possiblity of a certain coin, either it's good to short or long, something like that. Totally relying to others technical analysis and fundamentals is not a good thing though, there's no growth their, since you're like a parasite living through a host, without it, you're nothing.

For me, an independent trader will always make good profits in the long run, even though losses can't be avoided in the process of enhancing skills in trading.

[deathcode]

👉 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.

some people spread their investments across multiple projects in the hope of faster returns. it's like new projects. they put a little money there for luck if the new asset can pump high.
but it would be better to just focus on a few assets that are truly the best. such as focusing on long-term Bitcoin investments. New projects will only last a short time. even though it is successful, but if we lose momentum, we will not get anything.
reducing the diversification of assets we own may be a good choice.

[satscraper]

This 2023 we learnt that the network can be spammed by stupids who are trying to turn blockchain into virtual drawer to store their worthless junk, the fee  can rise day by day, the hardware wallet company that you actually trusted all these years in reality lied to you, the mixers can be banned even on this forum and so on.

And when you realize all this stuff the understanding comes that Bitcoin is as vulnerable to human ignorance as every thing on the Earth.

[btc78]

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

It is okay to look for advices especially here in this forum i, myself, have learned a lot from reading through various posts here and i have found out about many different ways to earn from crypto aside from investing so it is not all bad

However it is still important to make your own research especially if you are investing someone’s goals and objectives might not align with yours so you have to curate your strategies based on your capabilities and goals

👉 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.

I also agree i think that diversification should be recommended but some people just buy too much i am guessing that it is because they can afford it however investing in too many projects might distract you from all the other projects

Research dutifully and only invest in ones you think have the greatest potential to give you most profit instead of dividing your money to so many different ones

[taufik123]

I also agree i think that diversification should be recommended but some people just buy too much i am guessing that it is because they can afford it however investing in too many projects might distract you from all the other projects

Research dutifully and only invest in ones you think have the greatest potential to give you most profit instead of dividing your money to so many different ones

Diversification should not be done carelessly because everything certainly requires research in accordance with the project to be chosen to invest.
Diversification in general aims to mitigate risk while reducing volatility in investment portfolios over time.

Too many projects will indeed distract and not focus on the main project.
But this requires good management, the chosen project is a project that is trusted and already has good development,
so it has the potential to provide profits when the market is bullish.

Examples like holding ETH, SOL, ETC, BNB and some other altcoins that I think it needs to be included in my investment portfolio.
But the main investment is still Bitcoin with the largest amount of investment.

See in this image illustration

Source: https://pintu.co.id/academy/post/cara-diversifikasi-crypto

It's like there are 3 types of food that describe the category of each coin to be invested.
Each food menu has several toppings and other side dishes.
Bitcoin is the main dish menu with more portions than others.

[God bless u]

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

As a relatively new member in this forum. I must say you've learned quite a lot of valuable things in this forum. and your advice are very useful for new members of Bitcoin community who preparing to start their venture into Bitcoin world and in this forum.
About the telegram signal groups. my opinion is  a bit difference than yours tho. I agree that most of them are not reliable but there are some groups which provide good signals. even those are also not 100% safe and accurate. but that is common in trading. also these are things you can't do by your own at beginning you have to learn them from somewhere or someone.

[lovesmayfamilis]

I can’t say that I realized that there is no need to bustle with market unrest this year, but the fact that I have become more confident in this is true. I have adopted the attitude of not worrying and following the ups and downs of Bitcoin as little as possible since it still returns to its trodden path. Now is the time for accumulation, and when purchasing regularly, it is better not to pay attention to the price. But one of the best understandings that came to me this year is that we need to understand why we invest. Mere accumulation turns into an empty journey, and the absence of desires turns life into a half-dead existence.

[Natalim]

This year taught me something about the importance of trusting the projects we invest in. It means that as we choose this project, we also believe that it will grow and give us profit, and of course, we are willing to hold. But if we already have doubts inside this never happens, better choose to sell them and make another choice because that will only cause losses. That is why when deciding to buy this coin, we have done the research first, not just after. We don't need to hurry, try to spend more time searching and looking for the right one, and of course, it should be in good timing - buying low. All the effort will be paid off in the end.

[majeed]

Welcome, rookie! First, congratulations on learning the hard way. Popular opinions? Pfft. Like sandcastles, they're attractive but vulnerable. Exactly right about Bitcoin's price! Market mechanisms, not divine intervention. Whether there is a bull run or not, Bitcoin is a horse in a field of ponies. It's got stamina, legacy, and it's here to stay. Period. Moving on to those prophesiers on Reddit and Telegram. They often don't know what's going on. Your trading self-reliance call? Brilliant.
Over diversification, you say? Completely agree. A targeted portfolio is fundamental. A few well-selected cryptos will do. Bitcoin should be your crown treasure. The crypto is a movement and emblem of financial progress. Keep going and you're part of history, not just an investor. Keep going!

[Natsuu]

I agree.

Though, having some insights from other sources is not that bad because it can help you to broaden up the possiblity of a certain coin, either it's good to short or long, something like that. Totally relying to others technical analysis and fundamentals is not a good thing though, there's no growth their, since you're like a parasite living through a host, without it, you're nothing.

For me, an independent trader will always make good profits in the long run, even though losses can't be avoided in the process of enhancing skills in trading.

I agree too. Trading smart involves mixing insights from different sources with your own thinking. Going solo in trading lets you adapt, learn from both wins and losses, and refine your strategy over time. It's about finding the right balance between external perspectives and your own game plan for sustained success in the dynamic world of trading. This forum surely helps a lot.

[Zoomic]

👉 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.

I agree with you on this.
Lots of these social media mentors who teach newbies are only doing these to gather traffic on their social media platforms. Most of the information they dish out are their personal opinions which often times are not from verified sources. There are still good and dedicated ones among them though and the only way to find out is by carrying out personal researches from different sources so that you can tell on your own when the social media groups or self acclaimed mentors are giving out false information to the general public. You can only fall victim of this their scam teachings and advice if you over rely on the information they give out. Some of the information they give are real though but when you know what you are doing, you won't just be a blind follower .

[boty]

👉 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.

some people spread their investments across multiple projects in the hope of faster returns. it's like new projects. they put a little money there for luck if the new asset can pump high.
but it would be better to just focus on a few assets that are truly the best. such as focusing on long-term Bitcoin investments. New projects will only last a short time. even though it is successful, but if we lose momentum, we will not get anything.
reducing the diversification of assets we own may be a good choice.

By investing in several projects, of course we will really hope that there will be benefits from the investment we make and of course we will be able to easily get profits if the project we choose can develop well.
What you say is very true, it would be better for us to focus only on a few assets that we choose to invest in and with Bitcoin which has been proven we can invest and hold for a long period of time to be able to make a profit, because if we choose to invest in a new project which will not necessarily be able to make a profit, of course we will experience losses if we cannot get a profit from the new project.

[traderethereum]

By investing in several projects, of course we will really hope that there will be benefits from the investment we make and of course we will be able to easily get profits if the project we choose can develop well.
What you say is very true, it would be better for us to focus only on a few assets that we choose to invest in and with Bitcoin which has been proven we can invest and hold for a long period of time to be able to make a profit, because if we choose to invest in a new project which will not necessarily be able to make a profit, of course we will experience losses if we cannot get a profit from the new project.

Before investing, we should gather as much information about the project as possible. This is to support the research we do in finding the right project.
But most people are too lazy to do it and just wait for advice from other people to start investing.
Yes, I also agree to focus on a few assets rather than observing too many because that can confuse us when making decisions.
Investing in bitcoin is a valuable lesson this year because the decline in the price of bitcoin to its lowest price gives us the opportunity to buy bitcoin at that price.
Many new projects can also provide benefits, but we have to do research first to make the right choice.

[Alpha Marine]

All your advice is very valid and we should all follow them, although it's only to an extent.
The fact that you shouldn't take others' opinions on investment advice doesn't mean we shouldn't care about or respect what they say. It's okay to have certain people that you respect w bit and listen to, but don't follow their advice like it's a cult. Do your own research to verify if whatever they're telling you is true or not.

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.

Diversification is good, but it should only be for people who understand what they're doing.

To me, you should have just Bitcoin than to have so many investments where you lose all of them in the end. A lot of people just want 100x of their investments and fear of missing out, that's why they're so prone to scams.