When we approach the subject of investments, we are often unaware of the consequences of our choices. We are not able to predict whether an asset will increase or decrease in the medium term. It is a kind of lottery, but not always. You can, in a way, predict certain things and expect profits.
Take Bitcoin, for example. If someone believed in the potential of this cryptocurrency, which was a truly gigantic revolution and gave birth to a new era, then now they can count on not having to work for the rest of their life. Whereas if someone believed in Bitconnect and their shady dealings after all, they ended up where they ended up.
So what is the key to success? Unfortunately there is no key, but there are many signposts. At the beginning we have to ask ourselves fundamental questions. Why do we want to buy this particular cryptocurrency? Does it have potential? What is the vision of the future of this token? Are we buying at the wrong price? Is it worth holding it for a month or 10 years? Such questions will allow us to critically assess whether our investment has foundations.
Next, we need to control our emotions. It is often because of them that we lose money by buying something at a high price and selling it at a very low price. It is true that emotions can help us to preserve an asset, but sometimes they make us do things rashly. That is why we need to think for a while, check the solutions and choose the best one.