Disclaimer: This isn’t professional financial advice. Don’t forget to do your own due diligence before committing to any financial decisions!

Who you rather listen to: uneducated news anchors who are barely able to pronounce “blockchain” correctly or the early adaptors, great proven strategists and already successful traders? Well, seeing all the recent panic and mayhem around the potential “bear market” I’ve decided to conduct a small round-up of top crypto influencers (people with a large social media following) with two following questions:

QUESTION #1: What do you think would be the absolutely biggest mistake a new investor could make right now?
QUESTION #2: Is the “bear market” a bad thing for Cryptocurrencies in general?

 

1. CryptoHornHairs 🌊 answers:

“1) The biggest mistake a new investor could make right now is not knowing what the structure of a market cycle looks like.”

“2) The *potential* bear market is good for crypto as a whole as it is simply the dynamic of an overall market cycle playing out, in which many investors looking to get rich quick will jump ship on the way down, leaving only the true, beneficial to the space, supporters behind.”

By @CryptoHornHairs

2. The Sheep🐳 answers:

“1. buying at top and selling at bottom 😉

“2. should be good at long term = only strong projects survive and shitcoins die”

By @SheepOfCrypto

3. CryptoLee 🦁 answers:

“1. Invest in a coin without doing own research, with no product, with a bad team. Basically: invest in a shitcoin.”

“2. No, it’s how you react to the bear market. Don’t panic sell with loss. Save fiat to buy dips.”

By @CryptoFilon

3. Jovian Tempest [BLOCKCHAIN] answers:

“1) The biggest mistake right now would be getting scared.”

“2) No, it’s not bad. It’s a normal part of the markets.”

By @LuminousNebulae

4. Nike answers:

“1) the worst mistake right now would be chasing pumps and jumping from coin to coin without a plan”

“2) bear markets are ‘bad’, but are healthy in the long run, and provide significant buying opportunities”

By @CryptoNike

5. Cryptologist answers:

“1 – biggest mistake is to panic, and not taking profits when the going is good”

“2 – honestly believe that this is not the start of a bear market and believe we have a large upside ahead of us… perhaps even a monster bear trap”

By @Crypto_Twitt_r

6. Crypto Kitty [BPT] answers:

“1 HODLtard mentality. Its a poor excuse for lack of risk management and putting in the effort to learn how to buy low and sell high”

“2 Ive never been in a bearmarket, if the product is good you buy the dip”

By @CryptoKitKat

 

Final verdict

Hopefully, you enjoyed this round up in these “unstable” times and learned something new from different successful, influential crypto traders,

PS! If you enjoyed this round up then don’t forget to also follow these people on their Twitter!