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Did the SEC take down Binance? and the cryptocurrency market plummeted. Is there any hope for traders?
The SEC wrote a 136-page indictment against Binance, leading to a massive drop in BNB and then Coinbase was also affected. A variety of cryptocurrencies such as ADA, SOL, etc. are all understood by the SEC as securities, this is the main cause of the major decline in the cryptocurrency market. Where will Binance go from there? Is the future of the cryptocurrency market post-regulation alive? Is there still a chance to become rich quickly?
Failure of new investors entering the cryptocurrency market
Failure of new coin investors can include the following basic factors:
Lack of market knowledge:
Many new investors enter the cryptocurrency market without adequate knowledge of market fundamentals, but still hope to make a quick profit. This can lead to investment decisions that are not carefully considered, and when the market fluctuates, they will easily lose money.
Reasons leading to losses and not daring to cut losses
There are many reasons for not daring to cut losses in coin trading, some main reasons include:
1 Arrogance and overconfidence:
Many new investors often have the mistaken idea that they can make large profits in a short time, and therefore they do not want to cut losses for fear of losing the opportunity to profit.
They do not accurately assess risks and only trust their own opinion.
Where is the opportunity? How to capture investment opportunities
The market does not lack opportunities, but people who truly grasp the opportunities are very rare.
Many traders are full of hope for this market, even placing their future hopes in this market. But this market is both heaven and hell.
We understand many principles such as not chasing bullish or bearish price trends, not buying at the bottom and selling at the top, not playing against the market, not putting too much money into gambling... But in reality our trading , we still make a lot of mistakes and losses.
Learn to live without positions, bought altcoins when BTC was 20k but now still losing money.
Learn to live without status, if you cannot do that, you will never become great. Position management is a science built on strong market perception and feeling. Chasing the market without being consistent is a big mistake.
In short-term trading, it is important to deal with the momentum game, become a permanent cheater and your life will be free of food and water worries. If you act carelessly when you shouldn't, and retreat when you should be decisive, you fail to consider investment and profit.
As an investor in the cryptocurrency market, if you want to survive in the market, you must be prepared for every possibility. For example, if you are very bullish on the market, you must be prepared for the possibility that the market will surprise you.
On the contrary, if you are skeptical about the current uptrend, you cannot completely rule out the possibility of a large increase later in the year. Don't forget that nothing is absolute and the market is always right. Everyone can make mistakes.
If we want to fly high and far, we need to make slight adjustments. Today's price has gone in the expected direction. Everyone, prepare to pick up the corpse! #btc #dump