Don’t look at trading volume? No wonder you’re the one getting burned!
Those who lose money in cryptocurrency trading, nine times out of ten, don’t even know what trading volume is! This is the market's thermometer; whether it’s lively or not, and whether you can buy and sell smoothly, all depends on this! Especially when dealing with those messy altcoins, I tell you, if the 24-hour trading volume isn’t at least ten million dollars, don’t even think about it! Why? Only when it reaches that number can it barely indicate that this broken coin still has some popularity, and the market maker hasn’t completely run off yet, and the trading bots are still hanging around. With such coins, at least there are people trading with you, so you won’t be alone.
Now look at those coins that only trade one to two hundred thousand, or even tens of thousands of dollars a day, that is just a stagnant pool! Let me be clear: the market makers have already taken their money and run, and even the trading bots and that little money have been cleaned out! What does lack of liquidity mean? It means you can easily buy in, but when you want to cut your losses? No chance! When you want to run, you will cry and shout, but won’t find anyone to take over! In the end, you can only watch those numbers in your account turn into air, worth nothing! This is the rhythm of being deeply trapped and losing everything! So be more mindful; check trading volume before trading cryptocurrencies, and don’t foolishly jump into the fire pit, becoming that unlucky fool.
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