Why reading the news won't make you a millionaire 😨⚠️
Imagine waking up in the morning, picking up your phone, and the first thing you do is open the news about cryptocurrencies. In bold letters, you read: “Bitcoin plummets 10%! Solana faces criticism!” Your heart races. You rush to sell everything or, worse, panic and freeze. Now tell me: does this sound like a successful strategy? Of course not! This is exactly why reading the news will not make you a millionaire.
Let’s get straight to the point: anxiety, sensationalist headlines, and misinformation spread by people with no experience in crypto are sabotaging your financial progress. Today, I’m going to show you why this news addiction is toxic and how focusing on your studies can be your path to success.
1. News feeds anxiety and undermines your decisions
Have you ever heard of the concept of "market noise"? It's when everyone focuses on the short-term noise and ignores what really matters: the long term. News works exactly like that.
News is created to generate clicks, and nothing generates clicks more than panic or euphoria. The problem? When you act on these emotions, you end up making bad decisions. For example:
In 2021, headlines were announcing that Bitcoin would soon hit $100,000. Many bought at the top and, when the market corrected, sold at a loss.
Solana suffered a hack in early 2022, and naysayers said it was “the end.” But those who ignored these narratives and continued to invest in Solana for the long term saw the project recover and its fundamentals solidify.
Anxiety caused by news turns you into an impulsive speculator, not an intelligent investor.
2. Headlines are narratives, not facts
News is not about market reality; it’s about telling stories. And guess what? Stories sell. They manipulate your emotions to keep you trapped in the consumer cycle.
For example, when Bitcoin crashes, the media prefers to say:
“Bitcoin is dying”
instead of:
“Healthy correction in a growing market.”
Have you noticed that when Bitcoin goes up, headlines call it a “bubble,” but when it goes down, they call it “over”? This constant narrative of extremes confuses novice investors and creates a misperception about the market.
The same is true of Solana. Instead of focusing on its speed, low fees, and growing adoption, the media prefers to highlight specific problems. This generates fear, and those who allow themselves to be carried away by these narratives never have the patience necessary to reap the rewards of an investment.
3. Most people don't understand cryptocurrencies
Now, a fact that few have the courage to say: most people who post about cryptocurrencies on the internet do not understand what they are talking about. This includes influencers, social media analysts and even journalists.
Many of these people:
They never studied blockchain or economics.
They just repeat what's in fashion.
They have no skin in the game (they don't really invest).
It’s like taking health advice from someone who’s never been to a hospital. A classic example? During the FTX exchange crash, many “experts” suggested that this would be the end of crypto. Those who believed this missed out on great buying opportunities in solid projects.
The Importance of Studying: CoinMarketCap is Your Best Friend
If you really want to succeed in the cryptocurrency world, you need to swap your habit of consuming news for constant study. And one of the best places to do that is CoinMarketCap.
Here's why:
1. Real data, not emotions: CoinMarketCap shows you the price, volume and market capitalization of all cryptocurrencies, without sensationalism.
2. Research projects: You can study the proposals, partnerships, and technologies of each cryptocurrency. For example, by researching Solana, you will discover how it solves scalability problems, something that the media rarely mentions.
3. Long-term tools: Instead of worrying about daily dips, you can observe market trends and identify promising projects.
Want a practical example? In 2013, Bitcoin was worth less than $200. At the time, news reports said it was a bubble. Today, despite its fluctuations, it is consolidated as the largest digital asset in the world. Those who studied, believed and held on saw their wealth multiply.
Conclusion: study more, read less news
If you want to stand out in the cryptocurrency market, you need to break out of the news bubble and become a disciplined investor. Replace your habit of scrolling through headlines with hours of studying CoinMarketCap, CoinGecko, and other reliable tools.
Remember: news is written to sell stories, but its richness depends on facts and strategic decisions. Stop following the herd and start building your winning mindset today.
Ultimately, it's not those who read the most news who become millionaires. It's those who are patient, study and make decisions based on real data.
