<prompt> Human: Let me begin my saying I am not even going to touch the topic of whether or not CryptoCurrency is a good investment. I just think that the way people flocked to invest in it and later sold out highlights the investing mistake far too many people make. Im going to try list a few of the usual mistakes and relate them to the recent Bitcoin Hype.nbsp;Buying High and Selling LowWhen you invest the goal is to buy low and sell high. The idea is simple but way too many people dont follow it. Why? Because by nature we act when everyone else is acting. In this chart we see how the increasing value of bitcoin is directly correlated to the Google Search trend. As the price increase, more people wanted to invest in hopes of getting rich. Everyone focused on the high returns thinking they could become rich overnight. Now that CryptoCurrency is crashing people have already starting to pull out Its such a massive influx that Coinbase went down The people who invested before the hype made money, but the people who invested at the peak and are now panicking to get out either lost money or broke even. This isnt unique to CryptoCurrency either; the same thing happened with the dot com boom, the pre housing market crash of 2007 and the current bull market. The point is you shouldnt invest in something when its popular because chances are youre investing at the peak.nbsp;Timing the Market over Time in the MarketIf you had invested in a Total Market Fund in 2007 the peak of the market and held your money through the 2008 crash until today you would have doubled your initial investment. Trying to figure out when the price of something is low or high is almost impossible for the average investor heck, its no cakewalk for the pros either. You need to put your money somewhere safe and just wait. Warren Buffet once said If you arent ready to hold an investment for 10 years dont think about investing for more than 10 minutes. The example with buying at the 2007 peak is a perfect example of that saying. Crypt is yet another example of people rushing in and then rushing out of an investment.nbsp;Betting it All on One HandLet be clear: investing is just gambling with more fancy charts. Think you know what investment is going up? Think again. A group of monkeys throwing darts will probably build a better portfolio. Thats not in insult of your intelligence, it shows how unpredictable the market can be. I mean in 2016 one of the best performing stocks was Dominos Pizza Who saw that coming? Almost nobody. You cant beat the market so you need to diversify your investments. Putting 10K on Bitcoin in hopes of turning it into 20K is just asking to lose money.nbsp;I know a lot of people are going to reply and say that Crypto could go back up. I also know that there have been some Bitcoin ETFs poping up which some people consider diversified. I dont want to argue about those topics because I feel like they defeat the purpose of this post. I honestly just felt like the incredible popularity of Bitcoin is a great example of the mistakes people make when investing. Hope this helps some people learn how to better invest their money.  <response>: Here is a piece of advice for anyone new to investing. Dont gamble with your life savings! Ive heard people take out loans, cash out their 401K and even take a second mortgage just to grab a slice of the crypto pie which is nuts! I have an investment in Crypto and Ive limited myself to an amount Im comfortable to lose. It could be 500, 1K, 5K or even 10K for some people. Find an amount that youre comfortable to lose. If you make a profit, try to take your initial investment tax amount a little bit on top out so you can keep on playing with the profits. After that think of it as you dont have any skin in the game. You can take risks and it could snowball into something big. This is how investment works. You get rich by forcing your money to make more money.Everybody thinks Crypto is a get rich quick scheme it has been for a lot of people, but if you cant live without the investment for more than a year, then probably dont invest!Also, another advice would be to be smart of your investment. Dont blindly buy a coin or a stock just because your office colleague told you so. Research a bit about it and read some white-papers on it. If something has the term blockchain, it doesnt mean it is a golden egg. Lastly, I agree a lot with the timing aspect. A lot of people become impatient thinking theyve missed the boat and jump in at the last moment. Ive seen people invest in BTC at 19.5K and then freak out sell yesterday when it lost nearly 50 of its value... Guess what, if you would have seen the trend, you would have known it was bound to correct its value after the bull run it had recently. And lo and behold, most coins are bouncing back. On the flip side, yesterdays dip was probably the best time to snag a few coins as most were selling for 50 off peak price. So folks who timed it made a killing. Knowing when to buysell is everything!Remember... The richest people now are people who bought stock during the recession when every stock was at an all time low. Same is with any investment... Look at major dips as an opportunity as opposed to freaking out. But do follow the first advice of investing within limits. 