$USDC

Before we delve deeper into the many sorts of traders, we must

Now, let us delve into the distinct subcategories within these groups of cryptocurrency traders.

Range Trader

A range trader trades the range and sets limits; it doesn’t concern them if they're trading the range at its all-time high or at its bottom since they're just buying the range's bottom with a limit and dumping the range's top. Cryptocurrency trading makes sense when there is a range since there is definite support and resistance. They concentrate on making successful and consistent trades in the present range while others trade at the peak of the crash. The idea is to trade within the range, not to buy into or sell after an upswing or slump. Successful range trading requires patience and discipline. Traders must resist the temptation to chase price movements outside of the established range and stick to a predetermined strategy.

Diversified Trader

Rather than just betting on a price gain, a diversified trader’s purpose is usually to diversify an existing crypto portfolio.

HODLer - Holding Trader

"Hold on for Dear Lifers" are crypto enthusiasts who believe in the concept of cryptocurrency trading for its own sake. They often hold crypto assets for a lengthy period, even when they undergo substantial fluctuation, as the name indicates. They follow the "HODL" philosophy, which is a phrase used by cryptocurrency traders who refuse to sell their coins regardless of market fluctuations. It refers to not selling, even when the market is volatile and doing poorly. During a bearish trend, the term is also commonly used when a trader refuses to sell their coins despite the dip.

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.