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RE: The #1 mistake most crypto traders make

in #bitcoin7 years ago

Not to rub it in, but I was one of those lucky sods who had gotten some Navcoin before it started the big upward move :) For quite some time, it was mostly in the range of 0.23-0.27 and not going anywhere.

In my case, doing a bit of basic research had paid off. I'd often click on the link of some coin at WorldCoinIndex .com, see the charts etc. and go to the website, Reddit and BitcoinTalk. Navcoin was out of the Top 100 in terms of 24-hour volume. More of around 150 or so a lot of the time. But I started to become interested after reading the content at its website. About the team especially - these people look to have credibility. So I bought some units...and was thrilled when it shot up.

By the way, I had taken some money off the table by selling at various price levels. Then bought a few back a couple of days ago. This is a coin I'd want to have as part of my core holdings. In fact, I like Navcoin so much that I'm also running a node on my laptop. Not so much for POS rewards but because I like the coin, the dev team and users at the discussion groups.

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Very interesting story. Hope it will be a success story for you, mate. Really good potential in this coin. Anything can happen, but of smaller coins NavCoin really seems to be one of the best choices. To become big it needs more penetration into the real economy: merchants, ATMs, etc. And this is a challenge - during this long way something may go wrong!

One can only do research, buy and... hope. When it comes to these coins (Navcoin, Vertcoin, PIVX, Digibyte etc.), we can argue either way on how they will fare. These will be just guesses and speculations.

Bitcoin and the more well-known coins and tokens have done very well price-wise over the past 12 months especially. And cryptos are increasingly gaining the attention of the mainstream throughout the world. It is indeed tempting to conclude that "the sky is the limit" .

This may well be the case in the coming months ahead, especially for some of these coins (I'm hoping Navcoin will be among the favoured, of course). But I'm also the cautious kind who tries not to get caught up in the hype and exuberance too much. Have to also think about the various negative developments that could happen. Including the very unpleasant thought of these cryptos crashing down to earth for whatever reason.

I hope things will continue to be like this for a while yet. But if this were a rock concert in a stadium, I'm staying near to where there's an exit. Not at the front where the action is.