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<h4>Let me be honest. We all make crypto investment mistakes every bull cycle.&nbsp; However, it is important to learn from these mistakes and avoid them at all costs.&nbsp;</h4>
Here are 6 crypto mistakes that I am avoiding at all costs in the 2024 bull cycle. I have learned these from over 3 bull cycles. Are you making these mistakes too?
<h5>1) Invest in what Retailers Understand</h5>
One of the golden rules in a crypto bull market is to invest in projects that make sense to everyday folks, not just tech gurus! Everyone likes to throw around heavy words in a <a href="https://www.altcoinbuzz.io/?s=bull+market" target="_blank" rel="noopener noreferrer nofollow">bull market</a>. And this can be confusing. But let’s be real, who cares about the latest ZK interoperability or Layer 3 aggregator? not your average Joe or Jane!
I am not saying you should not invest in a project because it sounds too techie. No, I’m saying you should invest in what retail users understand. If a project has good technology, great infrastructure, and tokenomics that support value creation, go for it!
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Narratives for this bull cycle:
 – AI – GAMING – RWA – L1 – BRC20 – hybrid exchanges (cex/dex)
 Either of this narrative will give you incredible gains in the bull market.
 Last bullrun I turned hundreds of people into multi-millionaire
 And made thousands into millionnaires.…
 — Crypto Chiefpriest <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoCPriest) <a href="https://twitter.com/CryptoCPriest/status/1732670094411538499?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 7, 2023</a>
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What matters most in a bull run? Narratives that make sense, like memes, gaming, AI – things you can wrap your head around while sipping your morning coffee. As I said earlier, don’t go after projects you do not understand.&nbsp;Here are some of the benefits of avoiding this mistake:
<ul>
 <li style="font-weight: 400;" aria-level="1">You avoid speculative hype.</li>
 <li style="font-weight: 400;" aria-level="1">You minimize your risks.</li>
 <li style="font-weight: 400;" aria-level="1">You stick to your long-term vision.</li>
</ul>
So what’s my suggestion? Niche down! That’s a pro tip for riding the bull without getting tossed around. Too much diversification in a bull market can be like juggling flaming torches—exciting, but risky!&nbsp;Pick a niche that speaks to you, matches your vibe, and, most importantly, matches your trading temperament.
Whether you’re into meme coins or <a href="https://www.altcoinbuzz.io/?s=gaming+tokens" target="_blank" rel="noopener noreferrer nofollow">gaming tokens</a>, find your groove. Remember, it’s not just about the tech; it’s about the narrative you believe in. And one that retailers are going to get behind. Numbers matter in crypto. Bitcoin remains the leading crypto because we all see it as the safest. And there’s not much complexity around it.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 4⃣. Niche down.
 I'm a big advocate of diversification. But too much attention diversification can prevent you from gaining an edge.
 It'll be way easier for you to establish an edge if you become an expert in a specific niche. <a href="https://t.co/ufZCwWKUIq" rel="noopener noreferrer nofollow">https://t.co/ufZCwWKUIq</a>
 — Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1727802541608755307?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 23, 2023</a>
</blockquote>
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Niching down makes you an expert in the field of crypto. So, you can spot the best projects to invest in. And trends to jump on
<h5>2) Don’t Rotate your Portfolio</h5>
Let’s look at another classic mistake people make in a bull cycle. And that’s the temptation to become a ‘rotator’. It’s like when your friend’s flashy new coin is skyrocketing, and suddenly your bag feels like it’s stuck in snooze mode.
Now, it’s normal to want to join the shiny coin party. But, the truth is that recklessly rotating might just be the express lane to ‘REKT’ city.
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 3⃣. Don't become a rotatoooor.
 I get it. When your bag isn't moving and the shiny coins are pumping, the temptation to rotate your current bag into a new position is strong.
 But this is a big mistake.
 Recklessly rotating is a surefire way to get rekt.
 — Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1727802535438864816?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 23, 2023</a>
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Here’s a scenario: Your current bag might not have much going on. But switching it up just&nbsp;because the grass looks greener elsewhere?&nbsp;That’s like changing your pizza order mid-delivery because someone else’s pizza looks fancier! And trust me, you’re going to see a lot of fancy “pizza” in a bull market. But that’s not a reason to dive in.&nbsp;
There are several crazy projects in a bull market. Most just pump and dump. And some are just headed for a rug pull. You stand a chance to fall prey if you easily rotate your bag to accommodate what’s trending.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The decisions you make now will impact your earnings in the height of the <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> bull run to come
 – Work on your emotions – Work on your research – Work on your patience
 All of these will help you become the best you can be as a trader / investor
 — Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1732664466255286414?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 7, 2023</a>
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Impulsively rotating during a bull market might mean missing out on your bag’s time to shine. Markets are like rollercoasters; they have their ups and downs. And sometimes your bag just needs a moment in the spotlight.
Sure, it’s tempting to follow the shiny objects, but here’s the secret sauce: patience and strategy.&nbsp;Rome wasn’t built in a day – and neither are crypto fortunes!
<h5>3) Know when to Cut your Losses</h5>
Let’s talk about a lesson most of us have learned the hard way: not marrying our bags during a bull run.&nbsp;Raise a finger if you’ve been there—watching your favorite altcoin mooning and thinking, ‘This is the one!’ But the market has a way of humbling even the best of us.
During the last bull run, many of us held our bags too close, only to see gains slip away.&nbsp; Lesson learned: Don’t let love blind you! Altcoins are fantastic for profits, but they’re not your forever partner.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Nothing is ever set in stone. You need to know when to exit a trade. Cut your losses at the right time. Things go south very fast that’s how they get your liquidity and leave you in a state of disbelief. <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/JASMY?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#JASMY</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrency</a> <a href="https://twitter.com/hashtag/bullmarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bullmarket</a> <a href="https://twitter.com/hashtag/bearmarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bearmarket</a> <a href="https://t.co/muiWq1hKlW" rel="noopener noreferrer nofollow">pic.twitter.com/muiWq1hKlW</a>
 — Psycho (@cryptopsycho111) <a href="https://twitter.com/cryptopsycho111/status/1504184505262907396?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 16, 2022</a>
</blockquote>
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The way out is always to have a plan! Know when to cut your losses and resist the FOMO-driven urge to stick around for some extra gains. Remember that greed works for the market. So, always exit when your strategy says so. Never let emotions cloud your judgment. And you’ll be just fine.
<h5>4) Don’t Fail to Reserve a Spot for Newer Projects</h5>
Many of us made this mistake during the last cycle. We kept all our powder for older projects. And missed out on fresh faces.&nbsp;We’ve found that newer projects tend to outperform older ones in a bull run. Of course, Bitcoin is an exception to this for obvious reasons.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 I have a sizeable portion of my dry powder reserved for new/unreleased projects.
 The new, shiny objects tend to outperform.
 Don't allocate your portfolio purely based on what's popular today. Accept that innovations happen, and you want to be prepared for when they come.
 — Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1673186200885264385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2023</a>
</blockquote>
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Here’s why you should look out for newer projects:
<ul>
 <li style="font-weight: 400;" aria-level="1">They don’t have underwater bag-holders from the last cycle who are looking for an exit.</li>
 <li> Their circulating supply is much lower. This is good for explosive pumps.</li>
 <li> New projects often improve upon their predecessors.</li>
</ul>
I’m not saying ignore older projects. I’m saying make room to invest in newer ones. Does that make sense? 
<h5>5) Dont Fail to Hold Some Bitcoin</h5>
One of the biggest mistakes people make in a bull run is not holding <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>. It’s the OG, the safest bet in town. It’s like skipping dessert at an all-you-can-eat buffet. Do your research, folks, but seriously, don’t sleep on Bitcoin.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Once made the mistake not buying more <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> this is a example had way, juicier prices way back when I was in it in 2015 but lesson learned I am, buying everyday!!! <a href="https://t.co/Xa1tPrBQ4q" rel="noopener noreferrer nofollow">pic.twitter.com/Xa1tPrBQ4q</a>
 — TheDutchcryptodude <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3ce.png" alt="🏎" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b0.png" alt="💰" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@FibonnaciM) <a href="https://twitter.com/FibonnaciM/status/1395256765336465410?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 20, 2021</a>
</blockquote>
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My man Kev still regrets not buying Bitcoin in 2017.&nbsp; Bitcoin always leads the charge. And we are sure of its long-term relevance than most altcoins. 
<h5>6) Don’t Fail to Optimize Social Media</h5>
Social media remains your secret sauce in a bull run. Some of you made this mistake last time and paid for it. Don’t ignore the right social media platforms.&nbsp;&nbsp;
Dive deep into platforms like <a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener noreferrer nofollow">Altcoin Buzz Alpha</a>, Altcoin Buzz on YouTube, and Twitter. Why? Because that’s where the crypto magic happens! Get hot tips, strategies, and market analyses served on a digital platter.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Simple ways to 10x your productivity when consuming content:
 Organise your: • YouTube subscriptions • Twitter lists • Discord channels (folders) • Telegram chats
 Minimise time on Facebook/Instagram/Tik Tok.
 Make social media your strength, not your weakness.
 — Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1572928473651613697?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 22, 2022</a>
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So, buckle up and follow the cool cats – you won’t want to miss a beat. Trust me, your portfolio will thank you later. Also, you must filter the noise on social media. Everyone is a crypto expert in a bull run. So, be careful who you listen to. 
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The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/6-costly-crypto-mistakes-to-avoid-in-2024/" rel="noopener noreferrer nofollow">6 Costly Crypto Mistakes to Avoid in 2024</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.

6 Costly Crypto Mistakes to Avoid in 2024

Altcoin Buzz

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