Telegram and Crypto

Telegram and Crypto, what you need to know

When I'm bored I sometimes open my telegram app and join the crypto channels that I subscribed to. It's fun to see, especially during heavy price movements, the way people act during these movements. Since there are a lot of new people joining crypto every day and trying to find the channels that brings them the most exclusive news, you see new people joining the telegram chat of groups daily. I thought it would be nice to explain a few things before you make your move, so you understand better what goes on in those channels so you won't accidentally get FOMO'd into buying or selling something that you actually don't want yet.

First of all, understand that just a few people are on telegram. Even though groups look big (10k-30k people) they often bring very few volume and the discussions there are mainly just investors vs. investors, but both with a different plan. I've made an easy way to differentiate the people there so you can ignore most of the messages and pick up the ones that are important.

'OMG SELL ALL!!1!'

The first group I want to address are the ones crying SELL. Often in repeat, sometimes with unbiased arguments and mostly seen as annoying. Why would a person take the effort of logging into telegram, joining a channel and just nonstop repeat SELL NOW SELL ALL.. Well, this is because they either sold themselves at a certain point and want to buy back at a lower point, or if their buy-in order is under the current price, so they 'hope' by telling people to sell theirs that they can lower the price and enjoy a better entry point. Sometimes people who sold want to make sure they made the right decision and would hate it if there would have been an opportunity that they could have sold for a higher price. You can simply ignore these people completely, but a lot of people start to question them thinking 'what do they know about this coin that I don't?' and 'oh god, people are selling! Maybe I made a wrong choice!'.. If you honestly think that you should get your trading advice from kids, think again. Do your own research, buy in stuff you believe in. Some of the crypto's I invested in didn't take off for months and are now suddenly 3000-5000% up. Make a plan before you start, value the price. Remember, the only reason you should buy a cryptocurrency would be because you think it is undervalued or if you need them because of the use-case.

BUY BUY BUY!!

These guys are usually 'investors' (often very small stake, $100 investments) that just bought in and want to make sure they made the right move. Insecurity kicks in the second they bought something 'oh god I wish I bought the low-point, I would hate it if it turns out I could have bought more for less!' and this changes them into nonstop BUY BUY BUY callers on the channel. Since most of the investors from the channel already bought in earlier, others usually respond positive towards people that call for BUY - but remember they are on it for their own gains.

JUST HODL!!

Now this is actually funny, because most people that are in the channels are holding anyway - but everyone has a different motive. Let me kick off saying that - as a longterm holder - I really do not care one small bit if someone else sells, buys or holds. Volume is volume, and you need all 3 to make it work. But holders that cry HODL are actually sneaky people, why? Because the reason they call on you to please hold what you have is because their exit point is nearing and they want to dump their stack at a high price. If you are truly a holder, you don't care what the price will be tomorrow or next week, you have set up a plan for years to come and your targets have been set and adjusted towards whatever the markets bring.

In a way, all three of these people are just short term focussed groups that will miss out when the day comes, they are the people that give the real holders profit as they will FOMO into every move the chart makes and create the volatility of the market. I'm thanking them for the effort they put in to make my investment a success, but please don't act on any of these people. Set up targets before you purchase, after you have done this a lot of times you don't really care what the market will do in the next few months, your longterm plan is not based on current events but played on the future that will come for crypto. Whenever I go to sleep, I know that I can wake up to a 100% profit or a 50% loss of my stack. I also know that all gains and losses are temporary, as I know deep down in my heart that the more people that come into crypto will drive up the demand of all the 'good' picks and that taking time to research what you invest in is more important than your initial buy in point. 

Good luck with trading, and enjoy telegram!


I'm out
Mr. H