I am 28 years old this year, and from 2020 to 2025, my assets will reach 8 figures. I have hardly experienced any business disputes with others and have few worries. I have the patience to summarize my insights; the most important aspect of trading cryptocurrencies is having a good mindset, while the technical side is secondary.
1. In most cases, $BTC is the leader in the cryptocurrency market's ups and downs. #ETH , with its strong quality in Ethereum, may sometimes move independently of Bitcoin and show a one-sided trend, while altcoins generally cannot escape its influence.
2. If there is a significant drop during the daytime in China, one must buy the dip; at 10:30 PM, foreigners will pump the market. If there is a large increase during the day, one should not chase the highs as it will likely drop back at night. The key signal for buying and selling is the 'spike'; the deeper the spike, the stronger the buy and sell signals.
3. Between midnight and 1 AM, spikes are likely to occur. Therefore, cryptocurrency friends in China can set their desired buy prices low and their sell prices high before going to bed; you might just get a deal while sleeping.
4. Every morning between 6 AM and 8 AM is a critical time to determine whether to buy or sell, as well as to judge the day’s trend. If it has been falling from midnight to 6 AM and continues to fall, it’s a buying or averaging opportunity, and the day will likely rise. Conversely, if it has been rising from midnight to 6 AM and continues to rise, it’s a selling opportunity, and the day will likely fall.
5. 5 PM is an important attention point due to time zone differences; American cryptocurrency friends are waking up and starting their work, which may cause fluctuations in the market. Significant rises or falls have indeed occurred at this time, so be particularly attentive.
6. There’s a saying in the cryptocurrency world about 'Black Friday', and there have been instances of significant drops on Fridays, but there have also been cases of large increases or sideways movements. It’s not particularly accurate, so just keep an eye on the news.
7. If a cryptocurrency with a certain trading volume drops, there’s no need to worry; patiently holding will ensure you recover your investment, whether in 3-4 days or up to a month. If you have extra USDT, you can average down in batches to bring the price down, which will expedite your recovery. If you don’t have extra funds, just wait; it won’t disappoint you. Unless you really bought I coins.
8. Holding the same cryptocurrency for the long term with less trading yields greater returns than frequent trading; it depends on your patience to hold.
I bought Dogecoin at 0.1 and it has increased more than 20 times since then 💡 The future wealth code often lies in the gaps of understanding—trend first, layout second! $ETH