I am 37 years old this year. I started trading cryptocurrencies at 25, and by 2024-2025, my assets will reach 8 figures. I have hardly experienced any business disputes and have fewer worries. I have the patience to summarize my insights. The most important factor in trading cryptocurrencies is a good mindset; technical skills are secondary.
1. In most cases, Bitcoin is the leader in the cryptocurrency market's rise and fall. Strong coins like Ethereum may sometimes break away from Bitcoin's influence and trend independently, but altcoins generally cannot escape its impact;
2. Bitcoin and USDT move in opposite directions. If you find that USDT has risen, be cautious of a drop in Bitcoin; when Bitcoin rises, it's the right time to buy USDT;
3. Between 0:00 and 1:00 AM, there is a tendency for price spikes; therefore, domestic cryptocurrency enthusiasts can place buy orders for their desired coins at low prices and sell orders at high prices before sleeping; you might just make a deal while lying down;
4. Every morning from 6-8 AM is a good time to determine when to buy or sell, as well as to assess the day's price movements. If the price has been falling from 0:00 to 6:00 AM, and it continues to fall during that period, it is a good opportunity to buy or add to your position, as it is likely to rise during the day. Conversely, if the price has been rising during that time, and it continues to rise, it is a selling opportunity, and it is highly likely to drop during the day;
5. 5 PM is an important time to pay attention to. Due to time zone differences, American cryptocurrency enthusiasts will be waking up to start their day, which may cause price fluctuations. Significant rises or drops have occurred at this time, so be particularly alert;
6. In the cryptocurrency world, there is a saying about 'Black Friday,' as there have been instances of significant drops coinciding with Fridays. However, there have also been significant rises or sideways movements, so it's not particularly reliable; just pay a little attention to the news;
7. If a coin with a certain trading volume drops, there’s no need to worry; patient holding will definitely bring you back to break-even, whether it's in a short span of 3-4 days or a longer month. If you have extra USDT, you can average down by buying in batches to lower the price, and you will recover faster. If you don’t have extra funds, just wait; it won’t let you down—unless you really bought I-coin;
8. Holding the same coin for the long term with fewer trades yields greater returns than frequent trading; it all depends on whether you have the patience to hold.
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