Top 10 Cryptocurrency Trading Principles: Wisdom Gathered Over the Years
Cryptocurrency trading is a field full of challenges but also huge opportunities. Here are 10 rules that I have learned from my own experiences in this market over the past few years. These tips can help you avoid common mistakes and increase your chances of success. 1️⃣ Avoid Financial Leverage: Leverage can increase potential profits, but it also increases risk. Too often, it bankrupts traders by not giving them the ability to handle PNL fluctuations.
I wanted to share a concerning experience regarding fraud that seems to be targeting P2P trading lately. On August 26, 2024, I completed a P2P sale. The buyer transferred a fiat payment, and after I confirmed the receipt of funds in my bank account, I released USDT to them. Everything seemed smooth – until two days later when I discovered that part of my funds had been unexpectedly frozen.
1️⃣Ripple co-founder donates $10 million in support of Kamala Harris
➖Earlier, he had already transferred donations in the amount of $1.7 million. Even after failed interviews and lagging behind Trump by 20%+, they continue to believe in her... Well, let's see on November 5!
2️⃣ Michael Saylor on his future:
I'm a single guy, I don't have children - when I leave, I leave. Just as Satoshi left the Universe a million BTC, so I will leave civilization everything I have.
➖All for the people, all for the future of cryptocurrency.
3️⃣ Gary Gensler will be fired after the election of a new US president
➖Many are unhappy with Gensler's vision of policy in relation to cryptocurrency and finance in general. Although his term in this position does not expire until January 5, 2026, he will most likely not last until then.
4️⃣ Legendary investor Paul Tudor Jones predicts the growth of Bitcoin and gold
All roads lead to inflation. I hold gold. I am long Bitcoin, commodities and Nasdaq.
➖This man has been known for successful market predictions more than once. The first time he mentioned Bitcoin, the asset grew 7 times in 18 months! $BTC $ETH $SOL
How do you like this scam from Binance? My bot is closed without stop losses. With a loss of 24%. Tech support says: well, that's how it is, you didn't have enough margin. I say: yes, I still have $170 of margin!!! They tell me that 60 cents were missing. Does anyone understand what is going on with Binance?. #Binance! #BinanceTurns7 #BinanceHerYerde #future_trading_signal #futur $BNB $LTC $SOL
❕The week was not exactly boring in terms of major announcements, it can be described as "an ordinary week in crypto". Let's run through the most important ones.
1️⃣ Musk Empire Announces Listing Date - October 24 ➖So far, the official listing announcement was from OKX, but I think other major exchanges will make their announcements this week
💸Inflation came out positive, but Bitcoin showed a fall. I am sure that this is a fake move!
I expect gradual growth from current levels and then an upward impulse to liquidity. I expect $62,600, and if there is a good consolidation, we can fly further.
If there is no consolidation, then we will fly down again. $BTC $ETH $LTC
THE MAIN THING ABOUT CRYPT 1️⃣ Dubai regulator shut down 7 crypto companies. Dubai's Virtual Assets Regulatory Authority (VARA) said it had fined seven entities for operating without the required licenses and for violating marketing rules. The companies were ordered to pay fines of Dh50,000-100,000 (~$13,000-$27,000) and cease operations entirely.
#Gotbit #FBI The FBI conducted an operation codenamed "Token Mirrors"
The US Federal Bureau of Investigation took the "unprecedented step" of creating its own token NexFundAI and a shell company, as well as entering into an agreement with market makers Gotbit, ZM Quant, CLS Global and MyTrade. This was done in order to prove the facts of volume inflation and price manipulation of cryptocurrencies. The FBI controlled the NexFundAI token, minimizing the risk of its purchase by retail investors.
In particular, it is alleged that between 2018 and 2024, Gotbit was engaged in price manipulation of cryptocurrencies and provided money laundering services to several crypto companies, including those from the United States, receiving tens of millions of US dollars for this.
Gotbit founder Alexey Andryunin is facing a separate criminal case in the US on charges of digital asset fraud, conspiracy to manipulate the market, and conspiracy to launder money.