- Basics of buying in the crypto market and its influences 🪄
- When entering the field of buying and selling crypto, you should know when to buy and when to sell, as you should buy when the market is down and sell when the market is up. However, this is easier said than done, as you will be psychologically affected by what happens, and some people panic when they see prices dropping, selling during the decline out of fear that the market will drop further.
- However, there are some observations that if you apply them, you will feel reassured.
Among them, there are two types of influences on the market:
First: The natural weekly rise and fall of currencies.
Every week, currencies tend to rise, and their prices drop at the end of the week. It is not necessarily in the same order, but if you see that they are up compared to the previous week, they will inevitably drop to return to a lower point because people buy and sell to make profits during the week.
If you do not know whether the currencies will drop or rise, you should buy in quantities.
- For example, let’s say you want to buy ten units of $XRP (it is currently in a decline at the time of writing this post).
You do not know whether the price will rise or fall.
So, you might buy 2 or 3 units and wait. If the price rises, sell and take the profits; if the price drops a little more, buy 3 units. If it drops further, buy 3 or 4 more, and do not be afraid because behind every drop there is a rise, and behind every rise there is a drop.
Second: In the next post, God willing.