Six Key Points for Making Money with Cryptocurrency, Have You Heard of Them? Practical Sharing!

A veteran in the crypto world once said that if retail investors master these six points, turning a hundred thousand capital into five million is not just a dream. So what are these six points?

First Point: You must know how to set stop-loss and take-profit.

When we trade cryptocurrencies, the goal is to make money, not to keep them as family heirlooms. Being greedy when making money and unwilling to cut losses when losing is not acceptable. If the position trend is off, you need to act immediately.

Second Point: Don’t always think about bottom fishing and peak escaping.

There are no absolute lows and highs in the market; we ordinary people can't play that game. What we can do is buy and sell in the bottom and top areas, steadily making profits.

Third Point: Volume and price must work in harmony.

Be cautious of positions that rise without volume, or reach new highs without volume. They are likely false signals of a bullish trend by the main force trying to offload; don’t chase, it's better to miss than to make a mistake.

Fourth Point: Be quick to react.

As soon as there's a hint of a change, quickly find the favorable sectors and companies. If you miss the first tier, don't miss the second; you can still reap plenty of benefits.

Fifth Point: Learn to take breaks.

As the saying goes, it takes three months to see the bottom, and only three days to see the top. When the coin price is rising, the main upward trend is usually short-lived; you must seize the opportunity. During other times, take a good rest to recharge.

Sixth Point: A sharp drop is a big opportunity.

After a sharp drop, there often lies a greater opportunity. When others are greedy, you must be alert; when others are fearful, you must be brave. During market crashes, don’t be afraid; pick some good positions and build your holdings boldly.

These six points sound simple, but it's not easy to truly implement them. Why? Because the weaknesses of human nature are too hard to overcome. If you can’t get past this hurdle, that dream of five million will be hard to achieve.

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