EARN
A bull market in cryptocurrencies is a time of great opportunities and even greater risks. One wrong step, and you go from a profit hunter to a market victim. Want to maximize your chances of success? Avoid these common mistakes that break the careers of even experienced traders.
1. A PILE OF COINS IN YOUR PORTFOLIO — YOUR MAIN ENEMY
Why is this bad? If you own 20+ tokens, you essentially own nothing. By spreading yourself over dozens of projects, you reduce your earning potential.
What to do: Limit yourself to 5-10 carefully chosen assets. These could be projects that have already proven their reliability or promising newcomers with real utility for the market.
Example: Splitting $1000 into 20 coins will yield only pennies from each rise. However, a portfolio of 5 strong tokens can bring real money.
2. HOPE FOR ENDLESS GROWTH
Why does this kill your portfolio? You expect prices to rise forever and miss the exit point. The result: the market crashes, and you are left with unrealized profits.
What to do: Set clear goals. For example, lock in some profits when the price doubles, and gradually withdraw funds as it grows.
Example: A portfolio of $10,000 can easily turn into $2,000 if you didn't exit during the crash. Don't let the market take your money.
3. BUYING AT THE PEAK (OR HOW FOMO TAKES YOUR MONEY)
Why is this dangerous? You see a rapid rise in a coin and immediately buy out of fear of missing out. But what happens most often? After the spike comes a correction, and your 'golden ticket' becomes a loss.
What to do: Invest in calm times. Wait for corrections or gather promising assets while they are still unnoticed by most.
Advice: The best deals happen in silence. If everyone isn't talking about the project, you have a better chance of catching low prices.
4. OLD PROJECTS VS NEW TRENDS
Why is this a mistake? You hold coins from the previous cycle, missing new trends. As a result, your money works worse than it could.
What to do: Invest in current topics, such as AI tokens, gaming projects, or the tokenization of real assets.
History: Those who ignored DeFi in 2020 or NFTs in 2021 missed out on huge profits. The lesson is clear: go where the market is moving now.
5. EMOTIONAL DECISIONS — THE ENEMY OF YOUR BALANCE
Why is this bad? When fear, greed, or panic drive your trades, you lose money.
What to do: Stick strictly to your plan. Write it down if necessary, and remember: the market lives in cycles, and emotions are temporary.
Advice: Even when it seems like the world is collapsing, stay calm. The penalty for impulsive decisions is your money.
6. LACK OF STRATEGY — A DIRECT ROAD TO LOSSES
Why does this work against you? Without clear goals, you'll bounce between trades, wasting time and resources.
What to do: Determine at what levels you will buy and sell. Stick to these benchmarks, even if the market suddenly 'calls you to follow.'
Example: Invested $1000, earned $10,000? Lock in at least half and don't forget about rebalancing.
7. ALL MONEY ON THE EXCHANGE — A RISK OF NEVER GETTING IT BACK
Why is this risky? Exchange crashes happen, and your crypto can vanish along with the platform.
What to do: Transfer funds to hardware wallets, such as Ledger or Trezor.
Reminder: FTX, Mt. Gox, and other stories have shown: those who do not control their keys do not control their money.
8. DREAMS OF 1000X PROFIT
Why won't this work? You expect every coin to become 'the next Bitcoin,' while ignoring market realities.
What to do: Analyze market capitalization and real growth potential. Not all tokens can bring giant profits.
Advice: A coin with a $1 billion market cap won't turn into $1 trillion overnight. Set realistic goals.
9. FORGOTTEN TAXES
Why is this critical? Ignoring taxes can lead to serious problems in the future.
What to do: Keep track of all transactions using Koinly or CoinTracker. This will not only simplify your life but also save you money.
10. BLIND TRUST IN INFLUENTIAL FIGURES
Why is this a mistake? 'Gurus' advise you coins that can benefit only them, not you.
What to do: Research projects on your own (DYOR). Read technical documentation, study partnerships, and check the real utility of the tokens.
Advice: Meme tokens are a lottery. Keep a cool head and your portfolio in order.
BONUS TIPS
Manage your time: don't spend hours on charts — learn analysis and make thoughtful moves.
Invest wisely: use DCA to minimize risks and average your costs.
Watch the whales: the actions of major players will hint at where the money is moving.
CONCLUSION: SUCCESS DEPENDS ON YOU
A bull market is a huge opportunity, but also a serious test. Only those who act wisely will come out on top. Remember this guide and use it as a roadmap on your way to success!