Good morning, I would like to invite everyone to observe the current state of the Crypto market this year. Be a wise chooser among the millions of new tokens/coins emerging, wish everyone good luck.
In 2024, the Crypto market faces the situation of "token inflation" as too many new tokens/coins are being created. This is not necessarily a good thing, sometimes it backfires and causes the already poor liquidity to become severely fragmented.
Here are the observations and evaluations from BeInCrypto about this situation.
The number of tokens in the market exceeds 2.5 million, the highest in Crypto history.
The total number of tokens/coins currently in the market exceeds 2.5 million as of April 2024, according to Coingecko. According to CoinmarketCap, as of now, the number of tokens in the market is over 2.4 million. --In fact, if we include tokens freely created by users on Layer 2 platforms, the total number is much larger.
A report from Coingecko states that the total number of tokens in the market has increased more than 5 times since it was below half a million at the end of 2021. The illustrative chart shows that the upward trend is becoming steeper in 2024. Data shows that in the first half of 2024 alone, over 0.54 million new tokens have been created, while the total number of new tokens for the entire year of 2022 was 0.71 million.
Source: New Report

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14) Do not invest in coins that show signs of scams in the coin lending model. Its manifestation is widespread advertising, promising attractive hard profits. It is definitely a scam.
15) Only invest the amount you can lose. Crypto is high risk high return. You can get x2 x10, but be ready to lose it all.
#AltcoinMomentum

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9) Crypto is easily manipulated by the media. Read the news every day, on influential newspapers, at least Bloomberg and CNBC. If it is the sound of birds singing, it signals that the market will be green that day, especially those that are called will continue to be green. If the rhythm is the sound of trumpets and drums, be very careful. If the bad melody lasts for more than a day, take profits and wait for a sharp decline.

10) Keep a calendar of events that can affect the general market or the coins you are investing in.

11) Join small groups of experienced crypto traders and share activities. The number of people is about 10-20 people. If it is a good group, you will receive timely information sharing and useful analysis. When the market is down, you will also receive spiritual sharing and avoid unwise decisions. )
12) Learn more about technical analysis, it is quite correct when the market is in a normal state (not over-hype or over-panic). The most reliable indicator is RSI, if RSI is high, it signals overbought, there is about to be a correction down, you should consider selling. If RSI is low, it signals oversold, it signals about to go up, you can buy.
13) Learn deeply about some coins, among them, choose the coin that you love, maybe because you trust the founder, like its vision, like its technology. When you invest in a coin that you love, you tend to learn more about it, helping you make better decisions. You will also avoid giving up and not coming back while it can bounce higher.

A very good article I read in 2021 by Mr. N.H.Hung on FB, I would like to share it again on this platform for you to read!
EXPERIENCE IN INVESTING IN CRYPTO
1) In investing, your biggest opponent is yourself. You must overcome greed and fear.
2) When everyone is greedy, that is when the market is about to correct down. Take profit immediately, because only when you take profit, the money is your money.
3) When the market is afraid, panic sell, it is an opportunity to consider buying. When a crypto drops 30%, you can buy slowly, divided into 2 or 3 batches.
4) Never buy in the middle of a price increase if it has increased by more than 30%.
5) When the market drops in price, transfer money to core coins like Bitcoin, ETH. Core coins usually decrease in price slightly, the market will return to protect these coins, less likely to die.
6) To invest effectively, HOLD to die or switch continuously is not good. The important thing is to enter and exit at the right time and depending on the coin. Only hold good coins (reputation, influence, usage value, strong community). With bad coins, be ready to cut losses if you see that it is at a high price, unstable, and has entered because of a previous strong price increase.
7) Listen to everyone but trust your judgment and follow the decision from your judgment. You will be confused if you do not have your own opinion, it will lead to a big loss of money. If you are wrong, you may lose money but you will avoid that mistake next time.