The 5 WORST Money Mistakes To Avoid when INVESTING in Cryptocurrency



investing in cryptocurrencies isn't easy cryptocurrency markets are unregulated unlike traditional markets where everybody plays nice cryptocurrency markets are full of volatility ruthless people and beyond normal price movements in today's episode we're going to be talking about the top five worst cryptocurrencies investment mistakes everybody should avoid making what's up everybody welcome to do 10x what we get to talk about cryptocurrency related material I go by the name of Munna and you are welcome to the 10x family if you guys really want to make 10 times your money all you have to do is smash the like button hit the subscribe button as well because it really helps my channel grow mystech nominal uno is all about not knowing exactly what you're getting yourself into as cliche as that sounds a lot of people really neglect to do their own due diligence investing in cryptocurrencies is not a get-rich-quick scheme there's a lot of craziness to deal with especially in the cryptocurrency markets because you guys are going to be dealing with the whole lot of problems pumping dumps crazy shady developers price manipulation and the whole lot of chaos before you ever get to buy your first Bitcoin just try to do a little bit of research try to go back as far as I don't know 2008 and just try to look up the history all I'm trying to say is you guys better understand what the market is all about there are shape cut aka mistake number two try to learn as much technical analysis as you can I really can't stress how important technical analysis is but all I can tell you is you're going to end up saving a whole lot of money learning the basics of technical analysis is going to allow you or rather is going to prevent you from investing into cryptocurrencies at the wrong time if you ever really want to lose money at a very fast pace all you got to do is buy the top I'm gonna personally experience and trust me you don't really want to buy the top because you're going to end up losing a whole lot of money here's a practical example remember January 2018 when a lot of people really made the whole lot of money when the price of Bitcoin was around 20,000 US dollars guess what that was the wrong time to invest in cryptocurrencies for Bitcoin so if you knew a little bit of technical analysis you would have obviously received the red lights you wouldn't have invested at those price areas or rather those price points because the charts were telling you not to do some regardless of how bullish the markets are there's always better opportunities to get in and save a lot of money if only a lot of people really waited for about nine months that would have better opportunities to buy Bitcoin look at the price of Bitcoin right now right now the current price of Bitcoin is about three thousand nine hundred US dollars and if you guys really get to compare with its all-time high from about seventeen thousand US dollars you would have served tons of money and of course everybody wants to make a quick buck just wait for the right opportunity and with a little bit of technical analysis knowledge you guys are going to be making tons of money do not ever farm or fear of missing out don't ever do that you guys better be stingy with your money you have to be frugal before you ever buy any cryptocurrencies you have to do your own due diligence search everything research do a forensic background check just try to make sure that whatever you are investing in is totally worthless speaking about technical analysis there's a few basic principles that you guys obviously have to get accustomed to or acquainted with a few things that I personally encourage you guys like check out is obviously the Bonacci levels the resistance support indicators my DDMS fasts the alert waves there's actually no reason for you to pay extra amount of money to be part of a trading group because those guys are just basically going to be using this very same principle so I really encourage everybody who happens to be part of the 10x family to always take the initiative to like do things on their own because by the end of the day it's just going to be able to serve a whole lot of money so please check out all the links in the description all this tier principals are literally going to take you less than 10 was yep you heard me right less than ten hours and you guys are going to be pros so feel free to check on YouTube read a little bit of articles about this different technical analysis principles and you guys are going to be good to go a Shipka normally three third mistake that almost everybody makes these this is very very important do not ever join pump-and-dump groups because they're just going to end up grabbing and taking your hard-earned money whoever is going to tell you that they're going to be able to like help you make a lot of money in a very short period of time is lying I was part of this pump-and-dump group who were using trading books and we were able to like money people at the prices and be able to like turn a my incriminating myself that was a fictional story I totally made that I just really wanted to get my point across so that you guys can really understand how ruthless this pump-and-dump groups are yet the pollution minneapolis mistake number four please do not ever ever invest in that beware I mean before you invest in any particular cryptocurrency project you have to look at their idea try to look at their code are these people developing amazing products are they active are the developers developing on this particular blockchain because a lot of cryptocurrency blockchain projects are full of mistake number five try to use stop limits a lot of people really say stop losses but I mean stop limit stop losses doesn't really match the different cryptocurrency exchanges such as finance that really allow you to like set this automatic triggers like for example I really got to like save a whole lot of money when the price of Bitcoin drop from about six thousand two hundred US dollars all the way to about three thousand six hundred US dollars because I was able to utilize and stop limits so if you guys don't really know exactly how to use stop limits all you got to do is let me know in the comment section below if you really want me to like dive deep and show you exactly how I go about doing stop limits on bi'ness please let me know because if I go in to stop limits right now it's really going to be like a 1 hour long video guys are obviously busy I really appreciate you and you guys are like super important so all I'm going to say is please utilize stop limits that's about it for today ladies and gentlemen I really hope that you had a great time I go by the name of Munna and please be part of the Tenex family where we get to talk about cryptocurrency related material and a whole lot of investment related materials so I hope you guys really found this very very educated and very very entertaining I hope so free to smash the like button hit the subscribe button as well you know this I'm going to be dropping another video obviously tomorrow and I have a very good topic for you guys tomorrow so hopefully I'm going to be able to see your lovely faces be blessed be safe and take care

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