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Nice write worth the share. Thanks for sharing your experience @Crypto Scoop
Crypto Scoop
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What are some cryptocurrencies trading tricks?
I trade on Binance, Iāve made & lost a lot of money over the past couple of months, here are my strategies (in random order).
First: Buy the dips.Ā The problem is knowing if itās a dip or a larger downtrend. Most crypto has a natural peak & bottom typically on a daily basis.
Second: Donāt chase breakouts.Ā So youāre in your exchange, surfing trends - and BAM! You see one skyrocketing. Your natural impulse is to buy this shooting star. Then 2 seconds later it crashes & takes you with it.
Third: Never Buy Peaks.Ā If you absolutely canāt resist the urge to buy a coin thatās increasing in value, at the very least NEVER, EVER buy when the green line is close to being vertical.
Fourth: Trade against USDT pairs.Ā This isnāt set in stone, but when you trade against ETH or BTC, thereās natural movement on both sides of the pair.
Fifth: Trade coins with volume.Ā The higher the trading volume, the more predictable trends will be. When youāre looking at alt-coins, try to find ones that have a significant trading volume.
Sixth: Long-Term Coin Fundamentals Donāt Affect Short-Term Trades.Ā Youāre going to meet a lot of enthusiasts for XRP, XML, Cardano, ZeroX, etc.
Seventh: Daily News DOES Matter.Ā I subscribe to CCN and a few other crypto news sources, and when a big story comes out it does affect coin value. Two months ago, a cluster of news stories drove XRP from $2.60 to $4.68.
Eighth: Coin Hype Is Bullshit.Ā Youāre going to read a lot of hype from long-term holders trying to boost their coinās value. For instance, Justin Sun and his army of TRX advocates keep blogging about why itās supposed to be amazing.
Ninth: Ignore The Mainstream Press.Ā I see stories about crypto ācrashingā on a daily basis, which in turn inspires FUD in traders, which in turn causes crashes.
Tenth: Know when to walk away.Ā If youāve been trading for a couple of hours, you get tired, your reflexes can go to shit. #TradingAdvice #TradingMastery #investingtips #InvestingInsights #CryptoScoop
BNB Chain Releases 2023 Annual Report Highlighting User Growth and Future Plans
According to Foresight News, BNB Chain has released its 2023 annual report, revealing that its daily active users have surpassed one million, experiencing significant growth over the past year. The report also states that the second-layer expansion solution opBNB and the blockchain storage platform Greenfield have both been launched on the mainnet. On December 17, opBNB set a record for daily transaction volume with over 23 million transactions.
In addition, BNB Chain offers monthly rewards of up to $160,000 for projects with high total locked value on opBNB, as well as monthly incentives worth $200,000 in BNB tokens for the top ten projects in terms of daily active users. In its latest roadmap, BNB Chain plans to more than double the transaction speed of opBNB and reduce gas fees by ten times.
Bitcoin's Bumpy Road: Navigating Q1 2024 in Crypto's Crossroads
Predicting the trajectory of $BTC , the enigmatic godfather of cryptocurrencies, is always a thrilling tightrope walk. As we stand at the precipice of 2024, with Q1 looming like a misty mountain path, several factors will tug Bitcoin's price in a delicate dance.
Bullish Tailwinds:
Macroeconomic Malaise:Ā If global economic woes persist,Ā Bitcoin could gleam as a safe haven asset,Ā attracting investors seeking refuge from traditional market turmoil.Ā Think of it as a digital life raft in a storm-tossed sea.
Institutional Onboarding:Ā The continued integration of Bitcoin into mainstream financial products and portfolios could inject a fresh wave of institutional capital,Ā sending its price north.Ā Imagine Wall Street whales finally setting sail on the crypto seas.
Technological Tweaks:Ā Potential upgrades to the Bitcoin network,Ā like the highly anticipated Taproot activation,Ā could bolster its technical prowess and renew investor confidence.Ā Think of it as a sleek engine tune-up for the Bitcoin rocket ship.
Bearish Breakers:
Regulatory Rapids:Ā Increased regulatory scrutiny from governments,Ā especially in the wake of high-profile crypto exchange collapses,Ā could dampen investor sentiment and trigger sell-offs.Ā Imagine storm clouds gathering on the horizon,Ā casting a shadow over the crypto market.
Central Bank Buccaneers:Ā Continued hawkish monetary policies by central banks,Ā aimed at curbing inflation,Ā could sap liquidity from the broader financial system,Ā including crypto.Ā Think of it as the tide going out,Ā exposing the rocks (and risks) beneath the crypto market surface.
Competition Cannons:Ā The emergence of faster,Ā more energy-efficient blockchains or alternative digital assets could chip away at Bitcoin's market dominance.Ā Imagine new,Ā flashier pirate ships emerging on the crypto horizon,Ā vying for Bitcoin's treasure.
$BTC Q1 2024 voyage will be a nail-biting affair, and wild ride is far from over. Buckle up, mateys, and prepare for a thrilling crypto adventure!
Predicting the trajectory of a highly volatile meme coin like BONK is akin to gazing into a meme-ified crystal ball. However, based on current trends and potential catalysts, here's a glimpse into $BONK 's possible value direction in January 2024:
Bullish Case:
Dogefather's Decree:
Elon Musk's continued Shiba Inu love affair could spill over to BONK, especially if he tweets or integrates it into any future Dogecoin endeavors. This social media pump could send $BONK skyrocketing.
Meme-vitational Games:
If major crypto exchanges list BONK and gamified meme coin trading takes off, January could see a surge in FOMO-driven buying, inflating $BONK 's price.
Utility Bark:
If the BONK team delivers on promised real-world use cases like meme-based NFTs or decentralized social media platforms, it could attract long-term investors, stabilizing and potentially increasing its value.
Bearish Case:
Meme Market Mayhem:
The notoriously fickle meme coin market could turn against BONK as quickly as it embraced it. A sudden shift in online sentiment or a rug pull by anonymous developers could crash its price.
Regulation Rumble:
Increased regulatory scrutiny on meme coins could dampen investor enthusiasm and limit BONK's growth potential.
Hype Hangover:
If the January hype around $BONK fizzles out without any concrete developments, it could face a steep correction, returning to its pre-meme rally levels.
Ultimately, BONK's fate in January hangs in the balance between meme magic and market forces. Approach it with a heavy dose of caution and remember: never invest more than you're willing to lose in the unpredictable world of meme coins. #BONK/USDT
Short-term dip: The broader market may experience a mild correction after recent gains, potentially pulling DIA down with it. CoinCodex predicts a decrease of up to 7.32%, bringing the price closer to $0.37 by December 26th.
Positive fundamentals: DIA's unique focus on financial data oracles continues to attract interest from developers and institutions. This strong value proposition could provide support against market dips.
Holiday lull: Trading volume often decreases during holidays, impacting price volatility. Expect less drastic swings compared to usual, with potential sideways movement until January.
Uncertainties loom: Regulatory concerns within the crypto space and the unknown timing of the Bitcoin ETF approval add external variables that could influence DIA's trajectory.
Overall, DIA's short-term outlook appears cautiously optimistic. While a minor dip is possible, strong fundamentals and low holiday volume might stabilize the price. Remember, predictions are not guarantees, and staying informed about market news and technical indicators is crucial before making any investment decisions.
Cryptocurrencies are experiencing a positive trend, with Bitcoin reaching an almost 18-month high.Ā This is fueled by speculation about the possible approval of a Bitcoin exchange-traded fund (ETF) in the near future.
Regulation in Sight:Ā
The U.S. Securities and Exchange Commission (SEC) is actively considering several Bitcoin ETF applications, with potential announcements coming in early 2024.
Top Coins:
Bitcoin (BTC):Ā Trading around $41,000, Bitcoin is leading the charge, showing impressive gains and potentially heading towards further momentum.
Ethereum (ETH):Ā
Following suit, Ethereum also sees positive movement, benefiting from increased investor confidence in the broader cryptocurrency market.
Other Altcoins:Ā
While Bitcoin and Ethereum take center stage, other altcoins like Binance Coin (BNB), Litecoin (LTC), and XRP are also experiencing moderate gains.
Notable News:
BlackRock's Potential Entry:Ā Major asset manager BlackRock filing for an Ethereum-based ETF has further bolstered market optimism.
Regulation Concerns:Ā Despite the positive trend, SEC Chair Gary Gensler continues to express concerns about "far too many frauds and bankruptcies" in the crypto space, highlighting the need for stricter regulations.
Meta Backs Away from NFTs:Ā Meta's decision to halt its NFT efforts on Facebook and Instagram raises questions about the future of digital collectibles.
#stayupdated in the market condition. Be careful as you trade.
š°8 Strategies How To Become Crypto Millionaire In Few Daysš
š If you're determined to give it a shot, here are some guidelinesš
1ļøā£ **Holding Strategy** Some individuals have achieved millionaire status by acquiring cryptocurrencies and holding onto them for the long term. This can be less stressful than engaging in day-to-day trading.
2ļøā£**Invest in Presale** Choose verified and audited projects by #CertiK with a positive rating, for example, on ICO Holder. Such projects has the highest potential for a potential x100 gain. This is fulfilled by #SpaceCatch with an audit from Certik and the highest rating on ICO Holder over the past years (4.56).
3ļøā£**Diversification** Avoid putting all your funds into a single cryptocurrency. Diversify your investments to spread out the risk.
4ļøā£**Self-Education** Take the time to understand blockchain technology, various cryptocurrencies, and how the market operates. Knowledge is your most valuable asset.
5ļøā£**Risk Management** Invest only what you can afford to lose. Cryptocurrency markets are highly volatile, and you could lose your entire investment.
6ļøā£**Stay Informed** Keep yourself updated with the latest news and trends in the cryptocurrency market. Market sentiment can change rapidly.
7ļøā£**Technical Analysis** If you're interested in trading, learn technical analysis to make informed decisions about when to buy or sell.
8ļøā£**Security** Safeguard your cryptocurrency assets with robust security measures. Utilize hardware wallets and secure exchanges.
#BinanceTournament #crypto2023 #CATCH Remember, there are no guaranteed shortcuts to achieving millionaire status in the crypto space, and the market can be exceedingly unpredictable. Exercise caution and consider seeking advice from financial experts before making substantial investments. Do you want to receive this information every day? Give us a likeā¤ļø and start following usš
Predicting upward trends - Simple but effective reminder to Newbies & Pros
Predicting upward trends in cryptocurrencies can be challenging, but here are some factors that traders often consider:
1. Market Sentiment: Monitor social media, forums, and news to gauge the overall sentiment around a particular cryptocurrency. Positive sentiment can contribute to upward price movements.
2. Fundamental Analysis: Assess the project's fundamentals, including the team, technology, partnerships, and real-world use cases. Strong fundamentals can attract investor interest.
3. Technical Analysis: Analyze price charts, patterns, and technical indicators. Look for signs of bullish patterns or indicators that suggest potential upward movements.
4. Volume Analysis: Increasing trading volume can indicate growing interest and support for a cryptocurrency, potentially leading to an upward trend.
5. Market Capitalization: Consider the cryptocurrency's market cap relative to others in the market. Higher market cap coins tend to be more stable and have the potential for sustained growth.
6. News and Developments: Stay informed about any upcoming developments, partnerships, or technological advancements related to the cryptocurrency. Positive news can influence prices.
7. Community Engagement: A vibrant and engaged community can contribute to a cryptocurrency's success. Evaluate the level of community support and involvement.
Remember, no method guarantees accurate predictions, and the cryptocurrency market is highly volatile. Diversifying your investments and staying updated on market trends can help manage risks associated with speculative trading.