Hello everyone, I am Anh ba Công. Surely many of us have heard the saying "investing in crypto is just about buying and holding to win". Looking at the price chart of Bitcoin or many major altcoins, we can see that prices only go up in the long term. However, why are there still very few people who actually succeed with this strategy? Today, I will share 3 common reasons that newcomers often encounter, which prevent them from "holding on until the end" and missing opportunities.
Reason 1: Wrong position, wrong everything
The first and most important reason is a poor buying 'position'. To successfully hold, you must buy at a reasonable price, typically after a strong correction. Many new investors see the market heating up, fear missing out on opportunities, and jump in to buy immediately, chasing prices with all available funds. A high buying position makes you vulnerable to losses even with a small market correction, leading to panic and selling.
The secret is to never buy everything at once. Break your capital into smaller amounts and buy at various price levels to keep your average price as low as possible. This helps you maintain a good 'position', making you more comfortable when the market fluctuates and allowing you to hold onto your assets in the long term.
Reason 2: Doubling down when winning
Many people, after making a profit from their first investment, decide to 'double down' - meaning they use a larger sum to buy more when prices are rising. This is a classic mistake that even great investors have made. They think that past successful actions will repeat in the future, but forget the importance of 'position'. Rising prices are the time to gradually take profits, not the time to buy more. Remember, buy when the market is down, sell when the market is up.
Reason 3: Using non-idle money
Lastly, but most importantly: very few people actually hold coins with idle money. If you use living expenses, school fees, or short-term savings for investment, when the market turns red, you won't be able to just 'ignore it'. The fear of losing money and life pressures will make you panic, and you won't have the 'diamond hands' to hold onto your coins anymore.
Therefore, the most sincere advice is to only invest with money that you are willing to lose. Even if the capital is small, that idle money allows you to maintain a calm mindset to weather the market storms. Keep it there as a savings, and who knows, one day you might be surprised by your results. #anhbacong
