Key points for retail investors in the cryptocurrency market, shared with everyone!
1. Keep a close eye on Bitcoin trends
In the cryptocurrency market, Bitcoin often leads the rise and fall. While Ethereum can sometimes be strong and perform independently, most altcoins are influenced by Bitcoin.
2. Pay attention to the relationship between Bitcoin and USDT
Bitcoin and USDT often move in opposite directions; when USDT rises, be wary of a Bitcoin drop, and when Bitcoin rises, it’s a good opportunity to buy USDT.
3. Seize trading opportunities in the early morning
From 12 AM to 1 AM daily, there is a tendency for price spikes. Domestic traders can place low buy orders for their desired coins before sleeping and high sell orders, which may result in surprise transactions and easy profits.
4. Observe the morning trend
From 6 AM to 8 AM every day is a critical period for deciding whether to buy or sell. If there is a continuous drop from 12 AM to 6 AM, and it continues to drop, it is advisable to buy or increase holdings, as there is a high chance of an increase that day; if there is a continuous rise, and it continues to rise, it is advisable to sell, as there is a high probability of a drop that day.
5. Pay attention to afternoon volatility
Particularly at 5 PM, special attention is needed because of time differences, as American traders start to operate, which may trigger price fluctuations; many significant rises and falls occur at this time.
6. Be cautious of "Black Friday"
There is talk of "Black Friday" in the cryptocurrency market; while there may be significant drops on Fridays, there can also be significant rises or sideways movements, so keep an eye on news.
7. Be patient with declining coins
If a coin with a certain trading volume declines, do not worry; holding patiently can allow you to break even. This could take as short as 3-4 days or as long as a month. If you have extra money, you can gradually increase your holdings to expedite breaking even, unless it’s a worthless coin.
8. Stick to long-term spot trading
When trading spot, holding the same coin long-term and trading less often usually yields greater returns than frequent trading; it’s all about patience.
9. Pay attention to external influencing factors
The cryptocurrency market is volatile due to various factors, such as the attitudes of different countries towards cryptocurrencies, which can lead to declines if negative; U.S. financial policies; opinions from influential figures in the crypto space, such as comments from Musk. Keep an eye on financial news.
10. Maintain a good trading mindset
A positive mindset is crucial in trading cryptocurrencies; do not panic during significant drops, do not become arrogant during significant rises, and secure profits when possible.
