Is it feasible to become rich by trading cryptocurrencies?
In the crypto world, achieving financial freedom and class mobility must adhere to the iron laws of the market: the ten key points for becoming rich through crypto trading
1. Keep a close eye on Bitcoin trends
Within the crypto world, Bitcoin often leads the rise and fall. Although Ethereum can sometimes show strength and create independent trends, most altcoins are influenced by it.
2. Pay attention to the relationship between Bitcoin and USDT
Bitcoin and USDT often show inverse movements; when USDT rises, be wary of Bitcoin falling, and when Bitcoin rises, it is an opportunity to buy USDT.
3. Seize trading opportunities in the early morning
From 0:00 to 1:00 every day, pinning phenomena often occur. Domestic crypto enthusiasts can set low buy prices for desired coins before sleeping and high sell prices, or they may have pleasant surprise trades and easily make a profit.
4. Observe morning trend fluctuations
From 6:00 to 8:00 every morning is a critical period for determining whether to buy or sell. If there is a continuous decline from 0:00 to 6:00 and it continues to fall, it is advisable to buy or add to positions, expecting a rise that day; if there is a continuous rise and it continues to rise, it is advisable to sell, as it is likely to drop that day.
5. Pay attention to afternoon volatility points
Particularly pay attention at 5:00 PM, due to time differences, as American crypto enthusiasts begin trading, which may trigger price fluctuations; many significant rises and falls occur at this time.
6. Be cautious of 'Black Friday'
There is a saying of 'Black Friday' in the crypto world; while significant drops can happen on Fridays, there can also be significant rises or consolidations, just keep an eye on the news.
7. Be patient with falling coins
If a coin with a certain trading volume is falling, do not worry; holding on patiently can help recover costs. The short term may be 3 to 4 days, and the long term could be a month. If you have extra money, you can accumulate in batches to speed up recovery, unless it is a worthless coin.
8. Insist on long-term spot trading
Engaging in spot trading, holding the same coin for the long term and trading less often, often yields greater returns than frequent trading; it just depends on patience.
9. Pay attention to external influencing factors
The crypto world is volatile and affected by many factors, such as countries' attitudes towards cryptocurrencies, which can lead to declines; US financial policies, such as rumors of a wealthy tax; and influential figures' opinions on cryptocurrencies, like statements from Musk. It is important to pay attention to financial news.
10. Maintain a good mindset for trading cryptocurrencies
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Continuous attention:$BTC $ETH $BNB
