What are the mainstream coins in the cryptocurrency market?
BTC (Bitcoin) ETH (Ethereum) XRP (Ripple, Goddess of Waves)
BCH (Bitcoin Cash, Big Prince) EOS (EOS) LTC (Litecoin, Spicy Strip)
How to make money in the cryptocurrency market?
There are many ways to make money in the cryptocurrency market, primarily through trading coins, ICO crowdfunding, arbitrage, contracts, etc.
Which exchanges are the best to operate on?
Spot exchanges: Binance, Huobi, OKEx (most well-known and secure)
Where can I generally find information about the cryptocurrency market?
Market information websites: Feixiaohao, MyToken, Alcoin, etc.
News websites: Jinse Finance Q, Babbit Community, Coin World News
Basic terminology in cryptocurrency trading
Position: Refers to the ratio of actual investment to actual invested funds.
Full position: Invest all funds into virtual currency
Reducing position: Selling part of the virtual currency but not all.
Heavy position: The proportion of virtual currency is large compared to funds.
Light position: The proportion of funds is large compared to virtual currency.
Empty position: Selling all virtual currency held and converting it all to cash.
Take profit: Sell the virtual currency held after obtaining a certain profit to secure the earnings.
Stop-loss: Selling the virtual currency held after losses reach a certain extent to prevent further losses.
Bull market: Prices continue to rise, with an optimistic outlook.
Bear market: Prices continuously decline, with a bleak outlook.
Bullish (going long): Buyers who believe the price will rise in the future buy coins and sell them at a higher price once the price increases.
Bearish (going short): Sellers who believe the price will fall in the future sell some of their holdings (or borrow coins from the trading platform), locking in profits when the price falls to a certain level while also avoiding risks.
Building a position: Buying virtual currency.
Averaging down: Buying virtual currency in batches, for example: first buying 1 BTC, then buying another 1 BTC
Rebound: When the price drops too quickly, it adjusts and rises.
Consolidation (sideways): The price fluctuates within a small range, and the price is stable.
Slow decline: The price is gradually falling.
Plunge (Waterfall): The price drops rapidly and significantly.
Cutting losses: After buying virtual currency, if the price drops, sell it at a loss to prevent further losses. Alternatively, if you short-sell and the price rises, buy back at a loss.
Trapped: Expecting the price to rise, but the price falls after buying; or expecting the price to fall, but the price rises after selling.
Breaking even: After buying virtual currency, if the price falls and results in a temporary loss, but later recovers to turn a profit.
Missing the opportunity: After selling virtual currency due to pessimism about the market, the price rises continuously, and failing to buy back in time results in missed profits.
Overbought: Prices have risen continuously to a certain height, with buying pressure nearly exhausted, and the price is about to fall.
Oversold: Prices have dropped continuously to a certain low point, the selling pressure is nearly exhausted, and prices are about to rebound.
Bull trap: After a prolonged consolidation, the likelihood of a decline is high, and short sellers have sold their virtual currencies. Suddenly, the price is pushed up by the bears, luring the bulls into thinking the price will rise, leading them to buy in. As a result, the bears suppress the price, trapping the bulls.
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