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Three Common Mistakes Made by Cryptocurrency Traders
The cryptocurrency market is full of opportunities, but it also hides some traps for careless traders. Whether you're a beginner or an experienced trader, it's important to avoid these three common mistakes to enhance your chances of success and reduce risks:
1. Chasing the 'pump' (FOMO - Fear of Missing Out)
Have you ever seen a coin suddenly rise by 50% or 100% within hours, and felt the urgent need to buy out of fear of missing the opportunity? This is 'FOMO' at its worst. Chasing coins that have already been 'pumped' often leads to buying at the peak, exposing you to significant losses when the price inevitably corrects. Solution: Focus on analysis, not on the noise.
1. Chasing the 'pump' (FOMO - Fear of Missing Out)
Have you ever seen a coin suddenly rise by 50% or 100% within hours, and felt the urgent need to buy out of fear of missing the opportunity? This is 'FOMO' at its worst. Chasing coins that have already been 'pumped' often leads to buying at the peak, exposing you to significant losses when the price inevitably corrects. Solution: Focus on analysis, not on the noise.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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