The Wolf Den #342 - What Is The Root Of Your Conviction?
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This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.What is the root of your conviction?One of the most common pitfalls that I have noticed in new traders and investors, especially in the crypto space, is the root of their conviction. It is common to find people who believe in the long-term success of crypto, but for the wrong reasons.When questioned, a seasoned investor might point out the long failing history of fiat or the breakthroughs of blockchain technology. It is obvious when someone knows what they are talking about.A newcomer, under the false impression of strong conviction, likely maintains their beliefs on shakier grounds. Typically their sense of hope and conviction is solely built on price. This is just as easy to spot.A lot of newer participants in the crypto space believe the market or their coins will go "up only" because that is all that they have seen and because their conviction is built on hope. Perhaps they are aware that Bitcoin has been rising steadily since 2009, but a lot of newcomer’s belief stems from recent price appreciation and nothing else. These are dangerous grounds to stand on when your money and emotions are on the line. This is the reason there are panic sellers on any significant drop. Those participants don't understand the market – they are temporarily here for the ride.The history of an order book is enough to prove this theory.Yes, there are plenty of sellers out there who are far smarter and richer than us and who know far more about the markets, but they are the exception, not the rule. Panic sellers behave in accordance with the movement of the markets and react to flimsy headlines.No matter your investing style or depth of participation, find a reason deeper than price to stick around, regardless of the size of your investment.Q4 is just getting started and it has historically been great for crypto and good for financial markets, but it will still be a bumpy road. If the market moves heavily to the upside, the pullbacks will likely come in equal or greater force. Don’t join the crowd that panics and sells. Find your "why" and you’ll find yourself far ahead of the majority.In This Issue:What Is The Root Of Your Conviction?Bitcoin Thoughts And AnalysisAltcoin ChartsMaking Sense Of NFTsPresident Biden Has His Eyes On CryptoETHE Outperforms GBTCNot Your Keys, Not Your CoinsConversation With G. LoveMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #342 - What Is The Root Of Your Conviction?
The Wolf Den #342 - What Is The Root Of Your…
The Wolf Den #342 - What Is The Root Of Your Conviction?
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.What is the root of your conviction?One of the most common pitfalls that I have noticed in new traders and investors, especially in the crypto space, is the root of their conviction. It is common to find people who believe in the long-term success of crypto, but for the wrong reasons.When questioned, a seasoned investor might point out the long failing history of fiat or the breakthroughs of blockchain technology. It is obvious when someone knows what they are talking about.A newcomer, under the false impression of strong conviction, likely maintains their beliefs on shakier grounds. Typically their sense of hope and conviction is solely built on price. This is just as easy to spot.A lot of newer participants in the crypto space believe the market or their coins will go "up only" because that is all that they have seen and because their conviction is built on hope. Perhaps they are aware that Bitcoin has been rising steadily since 2009, but a lot of newcomer’s belief stems from recent price appreciation and nothing else. These are dangerous grounds to stand on when your money and emotions are on the line. This is the reason there are panic sellers on any significant drop. Those participants don't understand the market – they are temporarily here for the ride.The history of an order book is enough to prove this theory.Yes, there are plenty of sellers out there who are far smarter and richer than us and who know far more about the markets, but they are the exception, not the rule. Panic sellers behave in accordance with the movement of the markets and react to flimsy headlines.No matter your investing style or depth of participation, find a reason deeper than price to stick around, regardless of the size of your investment.Q4 is just getting started and it has historically been great for crypto and good for financial markets, but it will still be a bumpy road. If the market moves heavily to the upside, the pullbacks will likely come in equal or greater force. Don’t join the crowd that panics and sells. Find your "why" and you’ll find yourself far ahead of the majority.In This Issue:What Is The Root Of Your Conviction?Bitcoin Thoughts And AnalysisAltcoin ChartsMaking Sense Of NFTsPresident Biden Has His Eyes On CryptoETHE Outperforms GBTCNot Your Keys, Not Your CoinsConversation With G. LoveMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO