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Panic on the crypto market! How did the trading bots perform?
Market Insights
May 27, 2021

Panic on the crypto market! How did the trading bots perform?

In the past couple of weeks, panic ruled the crypto market. Especially investors and traders who entered the market only recently were shocked to see the bitcoin (BTC) and many altcoin prices crashed by 50% or more. It was a situation in which the trading bots in the BOTS app again proved our slogan: "Bots trade better than humans."

Panic, FUD, and emotions

The prices of many cryptocurrencies saw a significant crash in the past couple of weeks. In a normal situation, investing in the crypto market is already a stressful activity, sometimes leading to sleepless nights. But with the panic on the market caused by FUD (fear, uncertainty, doubt) news, these sleepless nights turned into two sleepless weeks for many.

Entering into a trade yourself means you’ll have to consider many factors. You may follow the news and do some technical analyses on the charts, but what will always be a part of your decision-making process is your emotions. Let’s say you took everything into account and you feel very confident. You enter into a long-term trade, but suddenly, you see the price fall and accelerating. It doesn’t seem to stop! What now? You start panicking, and eventually, you do something you maybe shouldn’t do: You sell. Your whole strategy just went out of the window.

Most traders panicked during these past weeks, hence the bitcoin price dropping like a stone. Panic ruled the market, and even the most experienced traders had a difficult time during this historical correction. One group of traders, however, didn’t feel panic. To be honest, they didn’t feel anything at all because they are trading bots!

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BOTS Weekly Performance week 22

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Need any help with anything?

If you still have questions about the BOTS app, please do not hesitate to contact the BOTS support department.

On the BOTS YouTube channel you can find other instructional videos that may help you further. You are also welcome on the Discord channel of BOTS.

There is no such thing as risk-free trading. It is possible to lose (part of) your stake.

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