What are the worst crypto mistakes to avoid in 2022?
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto.
But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.
Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up we have Bourgi, who thinks you should avoid ‘analysis paralysis’, in other words, don’t over analyze. Make decisions based on strong conviction. Do not just look at the price of a coin or token you’re interested in, look into it’s market cap, tokenomics, community size etc. Lastly he suggests don’t trade too much, HODL always beats trading.
Yuan is next with his 3 mistakes to avoid, firstly he thinks instead of waiting for your positions to go higher, take the profits you’ve already made and avoid ‘moon boy fever’. Secondly, understand the market cycles and lastly, he explains how to spot and avoid decentralized finance (DeFi) rug-pulls.
In the third spot, we’ve got Finneseth who explains his three mistakes you should avoid making, starting with the first one, HODL culture turning into token attachment. Take your profits before you miss the chance and have to wait, sometimes multiple years, before you get another opportunity. In other words, don’t get too attached to a particular coin or token, nothing keeps going up forever. Next, he suggests you should set your sell targets before you buy a coin so you’re already prepared and have your profit goals in mind. His last suggestion is to be mindful of the latest major trends and learn to play them to your advantage. But be careful, fast moving trends tend to flame out just as quickly as they rise
After the showdown, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Zilliqa (ZIL) and PARSIQ (PRQ).
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a free month of Cointelegraph Markets Pro, worth $100.
The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.