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Surviving Cryptocurrency: Mastering the Psychological Element

We are now at the point where most people in the developed world are familiar with the word “Bitcoin”. With the increase in awareness of Bitcoin and cryptocurrencies, so has the investment in this space.

It’s 100% Psychological

It’s said that over 90% of Bitcoin trades are purely speculative. Although this may be a gross underestimate, it’s quite certain the percentage of speculative trades for altcoins (all cryptocurrencies other than Bitcoin) is even much higher.

It’s the Art of War

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How to Win The Game

Firstly, it’s important to think of this as a game. Investing in cryptocurrency for all intensive purposes is completely virtual. It’s intangible. It’s nothing more than a publicly agreed-upon register of values.

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It’s the Most Valuable Skill You Can Learn

Cryptocurrency trading offers you the opportunity to develop and hone your critical thinking skills — not only a highly valuable skill on it’s own, but critical to your ability to be successful in this realm.

  • Understand and identify patterns and logical connections between events
  • Detect inconsistencies, abnormalities and mistakes in reasoning
  • Use creatively, logic and a methodology to solve problems

Mastering the Game

There is an art and science to being successful in cryptocurrency trading. Sure there is an element of luck, but long-term success in this market is largely a result of mastering our own internal skills.

Photo by Štefan Štefančík on Unsplash | Tech Futurist | Analyst