From being liquidated to trading cryptocurrencies to support my family. Now I have a car and a house back home, completely achieving financial freedom. I have hardly ever experienced business disputes with others, and I have fewer worries. #币圈暴富
I am patient to summarize my insights. The most important point in trading cryptocurrencies is having a good mindset; technology comes second.
1. In most cases, Bitcoin is the leader of the cryptocurrency market's fluctuations. Strong currencies like Ethereum may sometimes move independently of Bitcoin, but altcoins generally cannot escape its influence;
2. Bitcoin and USDT move in opposite directions. If you notice USDT rising, be cautious of Bitcoin dropping; the right time to buy USDT is when Bitcoin is rising;
3. Between 00:00 and 01:00, there is often a phenomenon of price spikes, so domestic cryptocurrency enthusiasts can 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 between 06:00 and 08:00 is a good time to judge whether to buy or sell, and it’s also a crucial moment to assess the day’s market direction. If it has been falling from 00:00 to 06:00 and continues to fall during that period, it’s a buying or averaging opportunity, and it’s likely to rise for the day. Conversely, if it has been rising during that period, it’s a selling opportunity, and it’s likely to drop for the day;
5. 17:00 is an important point of interest according to rumors in the trading world. Due to time zone differences, American traders will be up and working, which may cause fluctuations in the market. Some significant rises or falls have indeed happened around this time, so be especially attentive;
6. There is a saying in the cryptocurrency world about 'Black Friday.' There have been several instances of significant drops on Fridays, but there have also been cases of substantial 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 guarantee drops, there’s no need to worry. Holding it patiently will definitely bring you back to break-even, whether it’s in a short 3 or 4 days or a longer month. If you have extra USDT, you can average down in batches to lower the price; it will help you break even faster. If you don’t have extra money, just wait; it won’t let you down. Unless you really bought the I coin;
8. Holding the same coin long-term in spot trading with less frequent transactions yields greater returns than frequent trading. It all depends on whether you have the patience to hold. I bought Dogecoin at 0.1, and it has multiplied by over 20 times since then.
