Biggest Crypto Mistake: Shorting Bitcoin

[darkangel11]

The biggest mistake in crypto is buying worthless shitcoins and following liars on social media. People who follow social media personalities, especially the ones that used to promote scams like Bitboy, will lose money sooner or later. There are many other mistakes people make like holding coins on exchanges, bragging about owning coins worth a lot of money, holding seeds on email accounts...
Shorting bitcoin is a double edged sword. You can make some money and lose money by doing it. It's by far not the worst thing you can do.

[Bravut]

The biggest mistake in crypto is buying worthless shitcoins and following liars on social media. People who follow social media personalities, especially the ones that used to promote scams like Bitboy, will lose money sooner or later. There are many other mistakes people make like holding coins on exchanges, bragging about owning coins worth a lot of money, holding seeds on email accounts...
Shorting bitcoin is a double edged sword. You can make some money and lose money by doing it. It's by far not the worst thing you can do.

I totally agree with you Mate, you made a clear point.  The biggest crypto mistake as you have rightly said is investing into shit coins, paying attention to media and not valuing your own personal opinion is by far weigh the worst thing any Bitcoiner can get into.
Shorting Bitcoin is never a bad or great deal, I believe before one shorts Bitcoin it comes from a source of knowledge, understanding of his analysis of which might be profitable or Unprofitable, how tend does such become a mistake when we have seen Bitcoin price fall and also rise, that is simply counter-trend Trading. I advise we read more about Counter Trading and Timeframes.
I advocate we make more of reasonable thread, not some shitty threads without bases.

[Pandu Geddon]

I advocate we make more of reasonable thread, not some shitty threads without bases.

Op also thinks rationally. because everyone's thoughts have views that may be different from what you believe.
few or perhaps more people today believe in Bitcoin's long-term. If we are among the people who have read history, we will understand a strategy to gain profits.
That doesn't mean short Bitcoin is something bad or unprofitable. traders take advantage of Bitcoin's market potential to gain profits in the short term. but maybe this is related to each person's view regarding how they seek profits according to their skills and abilities.

[mirakal]

One character of Bitcoin is volatility. Experts who are already experienced with price movement are the people that short Bitcoin and they do make profit from it but they also run lose sometimes. New investors should not take such risk unless they already have an experience investors who is backing them up.

For new investors, best option is to start accumulation during bear market and  hold till a bull season when they can take profit.

It's always hodling is the key. If you aim to maximize your profits, then focus on hodling for long term, not just for short term.

However when it comes to shorting bitcoin, this won't guarantee sure profits most especially that price volatility is high. But if the market will favor, maybe you could be in profits but it's more on the chance to lose is high if you are not good enough in shorting bitcoin.

[Dr.Bitcoin_Strange]

One character of Bitcoin is volatility. Experts who are already experienced with price movement are the people that short Bitcoin and they do make profit from it but they also run lose sometimes. New investors should not take such risk unless they already have an experience investors who is backing them up.

For new investors, best option is to start accumulation during bear market and  hold till a bull season when they can take profit.

It's always hodling is the key. If you aim to maximize your profits, then focus on hodling for long term, not just for short term.

However when it comes to shorting bitcoin, this won't guarantee sure profits most especially that price volatility is high. But if the market will favor, maybe you could be in profits but it's more on the chance to lose is high if you are not good enough in shorting bitcoin.

While investing in Bitcoin, holding is profitable, and trading is also profitable, but trading requires enough knowledge and skill before one can begin to make a profit from it. In both trading and holding, profits are made depending on volatility, but if an individual doesn't want to lose a dime from their capital, the best option to choose is holding, because while holding, you don't lose anything, but for trading, you might even lose your entire asset due to volatility. 

Some people choose to trade because of the quick profit that they are expecting, and as long as anyone can bear the risk of shorting, let them trade. The worst case is if the person doesn't take their time to learn before starting. 

[SquirrelJulietGarden]

While investing in Bitcoin, holding is profitable, and trading is also profitable, but trading requires enough knowledge and skill before one can begin to make a profit from it. In both trading and holding, profits are made depending on volatility, but if an individual doesn't want to lose a dime from their capital, the best option to choose is holding, because while holding, you don't lose anything, but for trading, you might even lose your entire asset due to volatility. 

It is the same for people who choose to hold or trade with their bitcoin, to get profit or loss. Three big things to decide their results for investment or trading, entry, exit, time of holding their investment or trading position.

It's not true to say if you hold, you get profit. Profit or loss, depends on when you enter the market, what is your entry price, and how long will you hold your bitcoin that affects your exit price. Together, they make your profit or loss with holding.

It is nearly the same with trading but trading basically requires less time to let your position opens. Anyway, entry, exit, time of position open are decisive things for your trading profit or loss.

[Peanutswar]

But here's the golden rule: Never bet against Bitcoin.

I guess it's better to say don't against the surge or flow of the market, if the price of the coin is going down make a ride on it and not hope there's a reversal because sometimes a long down trend gives another dump. Currently, the market price of the bitcoin has dropped to 65k and many people get liquidated before the price goes deep its better to have at least signals and analysis with the market behavior so you don't get carried away with your position always mark to make a stop loss and take profit use this feature to prevent trade using your emotions.

[RockBell]

The biggest mistake in crypto is buying worthless shitcoins and following liars on social media. People who follow social media personalities, especially the ones that used to promote scams like Bitboy, will lose money sooner or later. There are many other mistakes people make like holding coins on exchanges, bragging about owning coins worth a lot of money, holding seeds on email accounts...
Shorting bitcoin is a double edged sword. You can make some money and lose money by doing it. It's by far not the worst thing you can do.

people see buying shitcoins as a way to them out of poverty they don't know that they are looking for ways to take their self back to poverty because something that is usually hyped and dumped and people will still want to invest in such coins of recent something happened, and I feel those that get their self involved with shitscoins are does that can gamble very well because to me that's pure gambling because something you are not sure of is gambling. and something happened of recent when so called influencers create a project hyped it and as am talking to you now that project is down and people always have this believe that people will invest as far that influencers is advertising it and all influences care about is their money.


And instead, they invest in trustworthy projects to invest in because there are legit projects that have gained more rounds and that is even far better than even going for shitcoins people always want to make 100x and they dont longer consider the risk they will face, and the mistake of even holding coins is worst than that of saving seeds on email and a lot of people are guilty of this act but people dont listen until if they end up experiencing what they have been warned of that way they will learn, and people are still finding it difficult to keep their seed phrase safe, they are a lot of mistakes that people are always fond of doing and that is why some of them will even fall in the hands of scam.

[Xampeuu]

But here's the golden rule: Never bet against Bitcoin.

I guess it's better to say don't against the surge or flow of the market, if the price of the coin is going down make a ride on it and not hope there's a reversal because sometimes a long down trend gives another dump. Currently, the market price of the bitcoin has dropped to 65k and many people get liquidated before the price goes deep its better to have at least signals and analysis with the market behavior so you don't get carried away with your position always mark to make a stop loss and take profit use this feature to prevent trade using your emotions.

On the other hand, using stop losses must also pay attention to the framework we create, because if not, we will often be faced with the stop loss being touched and the price rising again. therefore many traders are confused about it. However, we must always evaluate that we must provide a stoploss space that is not too close to the price action, but also still fits into our risk calculations.

[Dr.Bitcoin_Strange]

While investing in Bitcoin, holding is profitable, and trading is also profitable, but trading requires enough knowledge and skill before one can begin to make a profit from it. In both trading and holding, profits are made depending on volatility, but if an individual doesn't want to lose a dime from their capital, the best option to choose is holding, because while holding, you don't lose anything, but for trading, you might even lose your entire asset due to volatility. 

It is the same for people who choose to hold or trade with their bitcoin, to get profit or loss. Three big things to decide their results for investment or trading, entry, exit, time of holding their investment or trading position.

It's not true to say if you hold, you get profit. Profit or loss, depends on when you enter the market, what is your entry price, and how long will you hold your bitcoin that affects your exit price. Together, they make your profit or loss with holding.

It is nearly the same with trading but trading basically requires less time to let your position opens. Anyway, entry, exit, time of position open are decisive things for your trading profit or loss.

That was why I said trading requires more knowledge and skill because you have to be knowledgeable about how to read charts and how to combine the trading tools in order to make a profit. Holding your coins doesn't require any serious knowledge; you just need to buy them at a low price and hold them until the price has become bullish. Traders expect a short-term profit, while investors expect a long-term profit. Even if you buy Bitcoin at a high price, you just need to hold it for a very long time until the price becomes bullish, but while trading, if your prediction goes against you, you can lose your asset. 

[Zigabel]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

As a trader, this has some limitations ,recently there have been some movements of bitcoin around the $60k - $70k support and resistance in which as a trader with a proper TA, you will be able to know the times when you will be able to take advantage of the movements and when there's a fall or crash, the best you can do at that moment to be able to take advantage of the moment is to short and for investors is to sell off your assets and wait for a rebuy opportunity at the bottom of the trend or chart but if you are sayin you still want to long while there a fall or a bear, you are moving against the flow of the market and you will eventually get your fingers burnt and your account blown, always make sure to follow the trend, except you are a long term investor and then you would want to profit from the total movement of bitcoin which usually sums to a bull, or better put to an uptrend because bitcoin after a period of time, usually gets to break an ATH after which the price stays up there and never comes back to a certain range and if it does, it eventually makes sure to later go back up, invariably a long term bitcoin investments such as a 5-10 years usually gets a total upward movement  which turns out to profit them and gets them the most of the profits but for investments that wants to spam through a few months may be prone to suffering some losses.