Lessons Learned During Last Bitcoin Crash

By RFereru | CryptoStory | 31 Aug 2022


The cryptocurrency ecosystem needs content that is real, and unvarnished, from leaders that are sharing insights and lessons learned while working hard to avoid the next big bust. The biggest lesson that needs to be learned from the latest crash is that industry cannot continue fighting over who gets the bigger slice.

The cryptocurrency ecosystem is going to be feeling the effects from the recent crash for the foreseeable future. The cryptocurrency crash has had some real human consequences, and the lessons learned are serving as a reminder as to why buyers should exercise caution. The 24-hour nature of the cryptocurrency markets The volatility during a crisis is compounded by crypto markets.

While there is no way to time markets, experienced investors know all markets go through bull and bear phases, and it is necessary to get in and out of the crypto markets every now and then. Once you have faith in the future of cryptocurrency, it is easier to invest without panicking when an inevitable bust comes. I do not care how great you believe the opportunities are with cryptocurrency, it is going to be impossible to stick with them when things start going south.

The way to be stuck during the next inevitable cryptocurrency crash is to invest in cryptocurrencies with virtually no network effects. That is why I advise people to stick to proven cryptocurrencies such as major cryptos and Ethereum.

Heres what we can learn from crypto crashes, and strategies that we can adopt for future investments. I am a strong believer in education being the key to success, and if we take advantage of this crash to make more informed decisions the next time we invest, then we can strive to become more intelligent the next time. Heres what I learned, which may help you to make more informed decisions when it comes to cryptocurrency investments.

If you invested into Terra Luna before, and lost money, sorry to hear it, a lot of people lost lots of money throughout the entire crypto industry, as no such thing is a predictable occurrence, so I hope that these lessons continue to be useful to us in becoming more mature about crypto investments. Let us go over some reasons people invest in cryptocurrency, inherent risks, and lessons that people can take away from recent events. With the cryptocurrency crash and crash, there are still substantial risks involved when investing in cryptocurrency.

When crises or crashes happen like these, you cannot really depend on a crypto exchange such as Coinbase or Binance on your own. Each traders wallet and investors has their own numbers, codes, and passwords for verifying and protecting transactions, but taking cryptocurrency investments out of the markets may provide a skewed perspective on the general volatility. Also, investors and traders are taking their crypto investments off-market into a wallet, a necessary element for buying, trading, and selling cryptocurrency.

I learned from the cryptocurrency crash in 2018 that I could make a good amount of money in the long run, as long as I was patient and did not get scared by crashes.

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RFereru
RFereru

I am passionate about the world of software development, blockchain and cryptocurrencies. My hobby is photography.


CryptoStory
CryptoStory

A Blog where I can write about what I'm learning about the Crypto World and can be useful to others.

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