JUNE: THE MONTH OF SURPRISES 🚀📉
The market has only gone through a third of June, and there have already been many surprises. While the market initially expected June to be a month of breakthrough growth, in reality, there have been some very steep declines. As a result, many traders have "burned their accounts." The currency market is indeed very harsh, especially for newcomers. 📊💔
📉 Shock from Early June Trading Sessions
Right from the first trading sessions of June, major cryptocurrencies experienced significant volatility. For instance, Bitcoin (BTC) dropped from $71,997 to below $66,000 within just a few days, dragging other cryptocurrencies like Ethereum (ETH) and Binance Coin (BNB) down with it. This was a major shock for investors, particularly those new to the market.
🔥 Why Did Traders Burn Their Accounts?
The main reason many traders burned their accounts was due to using high leverage in Futures trading. When the market experiences strong fluctuations, these leveraged positions are easily liquidated, causing substantial losses. Statistics show that in the early days of June, over $300 million worth of Futures positions were liquidated. This further highlights the risks of using leverage in trading.
💡 Market Lesson: Proper Capital Management
This June market might end with many more shocks, but it also provides valuable lessons for small investors. To survive and thrive in this volatile market, have faith in your chosen path, but also know how to manage your capital properly.
- Don't use all your capital on Futures: Investing all your capital in Futures positions is extremely risky. Instead, allocate your capital wisely, using only a small portion for leveraged trades.
- Invest for the medium and long term: The currency market is always volatile, but if you have a long-term vision, you can withstand short-term fluctuations. Research and invest in potential projects, maintain your confidence, and be patient.
🍀 Wishing you steadfastness, successful investments.
Giving is eternal.💖
#BTC #Binance #Bigmoney
