On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss nine of the worst mistakes you can make in crypto.
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“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto.
But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.
Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up, we have Bourgi, who thinks investors should avoid “analysis paralysis.” In other words, don’t overanalyze. Make decisions based on firm conviction. Don’t just look at the price of a coin or token you’re interested in; look into its market capitalization, tokenomics, community size, etc. Lastly, he suggests not trading too much, as hodling always beats trading.
Yuan is next with his three mistakes to avoid. First, he thinks you should take profits you’ve already made and avoid “moon boy fever” instead of waiting for your positions to go higher. Second, understand market cycles. And lastly, he explains how to spot and avoid decentralized finance (DeFi) rug pulls.
In the third spot, we’ve got Finneseth, who explains the three mistakes he thinks you should avoid making, starting with hodl culture turning into token attachment. Take your profits before you miss the chance and have to wait, sometimes multiple years, before getting another opportunity. In other words, don’t get too attached to a particular coin or token, as nothing keeps going up forever. Next, he suggests you set your sell targets before you buy a coin so that you’re already prepared and have profit goals in mind. His last suggestion is to be mindful of the latest major trends and learn to play them to your advantage. But be careful: Fast-moving trends tend to flame out just as quickly as they ignite.
After the showdown, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Zilliqa (ZIL) and Parsiq (PRQ).
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a free month of Cointelegraph Markets Pro, worth $100.
The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The views, thoughts and opinions expressed here and during the show are the analysts’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.