I am 30 years old this year and started trading cryptocurrencies at 18. By 2024-2025, my assets will reach eight figures. I have hardly experienced any disputes in business, and I have fewer worries. I am patient enough to summarize my insights. The most important point in trading is having a good mindset; technical skills come second.
1. In most cases, Bitcoin is the leader in the ups and downs of the crypto market. Strong Ethereum tokens sometimes break away from Bitcoin's influence and move in a unilateral trend, while altcoins generally cannot escape its impact.
2. Bitcoin and USDT move in opposite directions. If you notice USDT rising, you should be cautious about Bitcoin falling. When Bitcoin is rising is the right time to buy USDT.
3. Between 12 AM and 1 AM, there is often a phenomenon of price spikes. Therefore, domestic crypto friends can try to set a low buy price for their desired coins and a high sell price before going to bed. You might just get a deal while you sleep.
4. Every morning from 6 to 8 AM is a good time to judge whether to buy or sell, and it’s also a time to assess the price movements of the day. If the price has dropped continuously from 12 AM to 6 AM, and it is still dropping during that time, it is a good opportunity to buy or add to your position. The price will likely rise during the day. Conversely, if the price has risen continuously during that period, it is a selling opportunity, and the price is likely to drop during the day.
5. 5 PM is an important point of focus. Due to time zone differences, American crypto friends are waking up to get to work, which may cause fluctuations in the currency's price. Significant rises or falls have indeed occurred at this time, so be particularly cautious.
6. There is a saying in the crypto circle about 'Black Friday.' There have been instances of large drops occurring on Fridays, but there have also been significant rises or sideways movements. It's not particularly reliable; just pay a bit of attention to the news.
7. If a coin with a certain trading volume guarantee drops, don't worry. Holding patiently will definitely lead to a recovery. In the short term, it may take 3-4 days; in the long term, about a month. If you have extra USDT, you can buy in batches to lower the average cost. Recovery will be quicker. If you don't have extra, just wait; it won't disappoint you, unless you really bought one coin.
8. Holding the same currency for long-term investment in spot trading yields greater returns than frequent trading, it just depends on your patience to hold. I bought Dogecoin at 0.1 and it has multiplied over 20 times until now. The future financial secret often lies in the cognitive gap—trends come first, layouts come later!
