When it comes to predicting crypto prices it’s important to tread carefully. It seems that every Tom, Dick and Harry is a crypto expert that will give you their “expert” opinion on what prices will do in the coming years. The reality is that no one can perfectly predict what different crypto currencies will do. That’s why the team at Cryptosouk always recommend doing your own crypto research and being careful who’s advice you take.
Here are some of the reasons you should ignore the price predictions of “crypto experts”.
Predictions are often wrong!
Just because a self-proclaimed expert on Twitter or LinkedIn claims that crypto prices will increase 50% by 2022 does NOT mean it will happen. Even if it is someone you know and respect, this doesn’t mean their prediction will bear fruits. Placing your faith blindly will result in poor preparation for your future investments. Emotions need to be placed aside when it comes to crypto. The team at Cryptosouk encourage you to consider all possible scenarios when looking at potential future prices.
Don’t be a speculator
Speculators can make bad traders and terrible investors. A speculator may achieve short term gains however they are never properly prepared when things go south (and they often do). It is never smart to make a decision on future crypto prices based on what someone else has predicted. The more you listen to these predictions, the more likely they will become embedded into your conscious and you will believe them for yourself. That is when you are likely to make irrational and emotional decisions which is not what a good crypto investor does.
Avoid becoming just another onlooker
There are many people out there predicting that certain cryptos will increase astronomically by the year 2022. By the number of people shouting this from the rooftops you’d think that crypto prices will hit these heights all on their own. But this is not how it works. For crypto prices to rise significantly, adoption needs to accelerate, government needs to get onboard, and blockchain technology needs to be more widely adopted. These things don’t just happen overnight automatically. If crypto hits new heights in 2022 it’s because there are people and projects happening behind the scenes that made it happen.
Price prediction gives you one thing; false hope
If you spend all your money based on someone else’s crypto prediction, what does that give you today? If you don’t have much money and decide to spend it all on crypto, what happens if your circumstances suddenly change? What if you need to urgently sell for an emergency? False hope can lead to bad decisions. Investing all your money in crypto when you can’t afford to will not help your present situation. Crypto prices go up and down, so the team at Cryptosouk advise you to only invest what you can afford! Trade wisely.
Price predictions can give you tunnel vision
People view crypto as a get rich quick scheme. Buy crypto when the price is low, and then sell when it skyrockets. Unfortunately for many, emotional decisions have made their crypto investments more like a get poor quick scheme. Price predictions can give you tunnel vision, where you only see the insane value someone has placed on crypto in the future. This cuts you off from reality. By listening to predictions your mind will be solely focused on unrealistic outcomes, making you unable to take advantage of other opportunities that arise. Don’t let price predictions make you miss out on other financial opportunities.
With the amount of information, we receive daily, it can be hard to completely block out some of the crypto price predictions that come your way. The key is to be more aware of what you pay attention to. Ignore crypto price predictions and follow your own plan.
The team at Cryptosouk advise you to NOT let speculation influence your crypto decisions. Do your research and analyse past and present prices. Future prices are impossible for you to control. Stay rational and trade with no trade-offs.
The information contained within this website and resource section is not intended to be a substitute for financial advice or promotional offer on the investment or purchase of Cryptocurrencies, digital tokens or related assets. Although care has been taken in preparing the information provided to you on this site and in the resource section, we are not held responsible for any errors or omissions and accept no liability whatsoever for any damage or loss you may incur through the result of your own actions and decisions when deciding to purchase or invest in Cryptocurrencies or related digital assets. You should never engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. We recommend you always seek financial/or legal advice counsel relating to your investment and purchase circumstances. This material has been prepared for informational use only.