I am 28 years old this year, and I started trading cryptocurrencies at 22. By 2024-2025, my assets will reach 8 digits. I have hardly experienced any business disputes and have fewer worries. I am patient in summarizing my insights. The most important point in trading cryptocurrencies is having a good mindset; technical skills come second.
1. In most cases, Bitcoin is the leader in the rise and fall of the crypto market. Strong coins like Ethereum may sometimes move independently of Bitcoin, but altcoins generally cannot escape its influence;
2. Bitcoin and USDT move in opposite directions. If USDT rises, be cautious of Bitcoin dropping; when Bitcoin rises, it is the right time to buy USDT;
3. Between 0:00 and 1:00 AM, there is a tendency for price spikes, so domestic crypto friends can try to place a low buy order for their desired coin just before going to sleep and a high sell order, as it might just get executed while they are resting;
4. Every morning between 6:00 and 8:00 AM is a good time to decide whether to buy or sell, and also to determine the day's price movement. If it has been falling from 0:00 to 6:00 AM and continues to fall, it is a buying or averaging opportunity; the day will likely rise. If it has been rising from 0:00 to 6:00 AM and continues to rise, it is a selling opportunity; the day will likely fall;
5. 5:00 PM is an important time to pay attention to. Due to the time difference, American crypto friends are waking up and starting their activities, which may cause price fluctuations. Some significant rises or falls have indeed happened at this time, so be particularly cautious;
6. There is a saying in the crypto world about "Black Friday," which has seen a few coincidences of significant drops on Fridays, but there have also been cases of significant rises or consolidations, so it's not particularly reliable; just pay attention to the news;
7. If a coin with a certain trading volume drops, don’t worry. If you hold patiently, you will definitely recoup your investment. In the short term, it can take 3-4 days, and in the long term, a month. If you have extra USDT, buy in batches to lower the average price; recovery will be faster. If you don’t have extra funds, just wait; it won’t disappoint you. Unless you really bought a worthless coin;
8. Holding the same coin for the long term in spot trading yields greater returns than frequent trading; it depends on whether you have the patience to hold.
I bought Dogecoin at 0.1 and have held it until now, it has multiplied over 20 times 💡 The future wealth code is often hidden in the gaps of cognition—trend comes first, layout comes later.
