The ups and downs in the cryptocurrency market follow a pattern 90% of the time.
The factors influencing the ups and downs of the cryptocurrency market can be summarized as follows.
Fundamental news + market sentiment + leading cryptocurrencies (Bitcoin) trends.
Speculating on cryptocurrencies based on fundamental news belongs to the speculative category. By positioning in advance and taking advantage of major news release timings, one can seize the opportunity. For instance, during the announcement of whether the US dollar will raise interest rates, if the direction is grasped correctly, short-term profits can be achieved. Of course, this method is not applicable during most trading periods.
Market sentiment is influenced by fundamentals and the rise and fall of cryptocurrency prices, making it more emotional and harder to control. Unless it's a major bull or bear market, it's not recommended to go with the flow.
Lastly, the price trend of cryptocurrencies, especially Bitcoin, can drive over 90% of other cryptocurrencies in the market. The price of Bitcoin follows historical patterns, and when it reaches certain resistance levels, one must decisively turn back.
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