Some tips and rules of the cryptocurrency world for newcomers and veterans
1. In most cases, Bitcoin is the leader of the cryptocurrency market's ups and downs. Strong Ethereum projects may sometimes break away from Bitcoin's influence and experience a unilateral trend, while altcoins generally cannot escape its impact; 2. Bitcoin and USDT move in opposite directions. If you notice USDT is rising, be cautious of a drop in Bitcoin; when Bitcoin is rising, it’s a good time to buy USDT; 3. Between 0:00-1:00 AM, there is a tendency for price spikes, so domestic cryptocurrency enthusiasts can set a lower buy price for their desired coins and a higher sell price before going to bed; you may just make a profit while sleeping; 4. Every morning between 6-8 AM is a good time to judge whether to buy or sell, and it’s also a point to assess the day’s potential rise or fall. If the price has been falling from 0:00 to 6:00 AM, and it continues to decline, it’s a good time to buy or add to your position, and the price will likely rise for the day. Conversely, if the price has been rising from 0:00 to 6:00 AM and continues to rise, it’s a selling opportunity, and the price will likely drop for the day; 5. 5 PM is an important time to pay attention to rumors in the market; due to time zone differences, friends in the US are starting their day, which may cause price fluctuations. Significant rises or falls have indeed occurred around this time, so be especially vigilant; 6. There’s a saying in the crypto world about “Black Friday+.” There have been instances where significant drops occurred on Fridays, but there are also cases of rises or sideways movements, so it’s not particularly reliable; just keep an eye on the news; 7. If a coin with a certain trading volume drops, don’t worry. Patience will ensure you recover your investment within a short 3-4 days or up to a month. If you have spare USDT, you can average down your position to recover your costs faster. If you don’t have spare cash, just wait; you won’t be disappointed, unless you bought a worthless coin; 8. Engaging in spot trading with a long-term holding strategy generally yields greater returns than frequent trading, depending on your patience. I bought Dogecoin at 0.029 and have held it to now, which has increased over 20 times, the highest gain among all my coins. 9. Factors affecting market volatility: 1) The stance of various countries towards cryptocurrencies; negative views usually lead to a downturn; 2) US financial policies, such as recent discussions around taxing the wealthy on capital gains
