02-22-2021, 07:39 AM
Don’t buy a coin / token just because an influencer told you to. You should do it
<!-- SC_OFF --><div class="md"><p>Why is this important?</p> <p>Well, because having a view as to why you are investing in a project allows you to hodl despite the general vagaries of the crypto markets. It helps to build your resolve and resist the temptation to sell. Some of the strongest hodlers I know are able to do so because they understand on a raw fundamental level why they are holding. To use Wall Street Bets lingo, they have “diamond hands”</p> <p>Moreover, merely buying a coin / token that is being shilled then leads to market pump-n-dumps. I have been seeing more and more of this taking place in the crypto markets recently. Coins & Tokens that have almost zero long term potential go through insane price pumps merely because they have been mentioned. Some viewers merely buy these coins in the hope that they can profit before the dump comes.</p> <p>This investing strategy is not the type that I want to encourage and I am vehemently against any sort of PnD tactics.</p> <p>Don’t get me wrong, we are all here to make gains. However, it’s about sustainable and long term gains. It’s about gains that you can easily attribute to solid research and not just because you bought and sold before the next sorry sod. That’s because, one day, you could be that sorry sod…</p> <p>(Shamelessly Copied from Coinbureau's latest newsletter because it will be very useful for all the newbies )</p> <p>Edit: Subscribe to <a href="https://www.coinbureau.com/email-newsletter/">Coinbureau's newsletter </a>.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CarbonatedInsidious"> /u/CarbonatedInsidious </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lp191r/dont_buy_a_coin_token_just_because_an_influencer/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lp191r/dont_buy_a_coin_token_just_because_an_influencer/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Why is this important?</p> <p>Well, because having a view as to why you are investing in a project allows you to hodl despite the general vagaries of the crypto markets. It helps to build your resolve and resist the temptation to sell. Some of the strongest hodlers I know are able to do so because they understand on a raw fundamental level why they are holding. To use Wall Street Bets lingo, they have “diamond hands”</p> <p>Moreover, merely buying a coin / token that is being shilled then leads to market pump-n-dumps. I have been seeing more and more of this taking place in the crypto markets recently. Coins & Tokens that have almost zero long term potential go through insane price pumps merely because they have been mentioned. Some viewers merely buy these coins in the hope that they can profit before the dump comes.</p> <p>This investing strategy is not the type that I want to encourage and I am vehemently against any sort of PnD tactics.</p> <p>Don’t get me wrong, we are all here to make gains. However, it’s about sustainable and long term gains. It’s about gains that you can easily attribute to solid research and not just because you bought and sold before the next sorry sod. That’s because, one day, you could be that sorry sod…</p> <p>(Shamelessly Copied from Coinbureau's latest newsletter because it will be very useful for all the newbies )</p> <p>Edit: Subscribe to <a href="https://www.coinbureau.com/email-newsletter/">Coinbureau's newsletter </a>.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CarbonatedInsidious"> /u/CarbonatedInsidious </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lp191r/dont_buy_a_coin_token_just_because_an_influencer/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lp191r/dont_buy_a_coin_token_just_because_an_influencer/">[comments]</a></span>Kind Regards R