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What traps should retail investors be highly wary of during the crypto market rebound?
The crypto market rebound can indeed be tempting, but it is also fraught with risks. As a retail investor, it is crucial to stay clear-headed amidst excitement. Below are the traps to be wary of during a rebound:
1. "FOMO" chasing highs and selling lows:
Trap: Seeing prices rise rapidly, fearing to miss out, and driven by emotions to buy at high prices often results in buying at short-term peaks.
Response: Develop a trading plan, set buying zones and stop-loss levels. Stick to discipline, avoiding being influenced by market noise and community fervor. Remember, "better to miss out than to make a wrong move."
2. The frenzied speculation of "junk coins" / "air coins":
1. "FOMO" chasing highs and selling lows:
Trap: Seeing prices rise rapidly, fearing to miss out, and driven by emotions to buy at high prices often results in buying at short-term peaks.
Response: Develop a trading plan, set buying zones and stop-loss levels. Stick to discipline, avoiding being influenced by market noise and community fervor. Remember, "better to miss out than to make a wrong move."
2. The frenzied speculation of "junk coins" / "air coins":
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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