How does longshot bias affect the profitability of cryptocurrency trades?

1 answers

• Lauren ReddJul 16, 2024 · a year ago
  At BYDFi, we understand the impact of the longshot bias on cryptocurrency trades. While it is natural for traders to be attracted to high-risk, high-reward opportunities, it is important to approach them with caution. We recommend diversifying your portfolio, conducting thorough research, and setting realistic expectations. It is also crucial to have a risk management strategy in place to protect your investments. By being aware of the longshot bias and taking proactive steps to mitigate its effects, traders can improve their chances of profitability in the cryptocurrency market.
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