Trading cryptocurrencies for 2620 days, with a maximum return of 100 times. Below are some of my experiences over these 2620 days. $BTC
1. In a bull market, opportunities are everywhere, but if you are greedy and try to grasp every chance, it will not end well. Although bull markets generally see rising prices, speculation still revolves around sectors. If a cryptocurrency surges, it will drive speculation in its sector. Conversely, simply catching the rise of a sector can be enough to fill your pockets. If you are lucky and catch two waves of a sector rotation, the wealth you can earn is unimaginable.
2. There are some basic rules in the cryptocurrency world - buy new, not old; investors tend to favor the new and discard the old, so keep up with the latest market trends. Major market movements bring major opportunities. - Do not use all your capital for contracts, and do not open high-leverage contracts. If you really want to play, absolutely do not exceed five times leverage, and set strict stop-loss limits! The best approach is not to open contracts at all! Otherwise, you could suffer significant losses! - The cryptocurrency market often operates on a four-year cycle; you must sell all altcoins at the peak of a bull market, otherwise, during a bear market, altcoins may fall by as much as 90%! - The market plays on expectations; when expectations materialize, the positive/negative effects end. - For non-large amounts, choosing major exchanges like OKEx is sufficient. If your amount exceeds 1 million USDT, consider a cold wallet. $ETH
3. Trading strategy suggestions Rather than chasing hot trends, focus on good projects/sectors for deeper engagement to achieve higher returns. The market capitalization of very popular projects is usually fully valued, so they often fail. Less popular sectors may present high-multiple opportunities. Choose projects that have market recognition but are not universally favored, making them key research targets, as they offer high potential returns with low risks; It is not recommended to fully invest in one sector; it is best to select three or four sectors, with two cryptocurrencies in each sector: one leading cryptocurrency to capture Beta returns and one low-market-cap cryptocurrency with high potential for greater returns.
Open positions at the end of a bear market, increase positions at the beginning of a bull market, and exit at the end of a bull market. A bear market may last around a year, followed by a consolidation period; during this time, focus on work or your own business, and do not let yourself become idle. During a bear market, there won't be many good trading opportunities, so do not open positions out of impatience.
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