A friend of mine who started trading cryptocurrencies with 50,000 yuan, earned 10 million yuan, then went into debt of 8 million yuan, turned the tables and made a profit of 20 million yuan, and now has financial freedom. Here are some practical and useful suggestions for those who have just entered the crypto circle.
If you want to achieve financial freedom and class transition in the crypto circle, you must strictly abide by the rules of the market:
1. Bitcoin is the weather vane of the crypto circle. Ethereum can sometimes be independent, but most altcoins have to depend on Bitcoin;
2. Bitcoin and USDT are like a seesaw. When USDT rises, Bitcoin may fall. On the contrary, when Bitcoin rises, it is the right time to buy some USDT;
3. From 0:00 to 1:00 in the middle of the night, the market is prone to large fluctuations. If you place an order at this time, you may make money the next day;
4. 6 to 8 in the morning is a critical period. If it fell the night before and it is still falling now, it may be a good time to buy and cover your position. On the contrary, if it rose the night before and is still rising now, then you should consider selling;
5. At 5 pm, American coin friends get up and work, which may cause the currency to fluctuate, and the market is prone to big movements, so you have to keep a close eye on it;
6. Although "Black Friday" is not an iron rule, you do have to be careful about the ups and downs on Friday;
7. Don't panic if a good coin falls. Hold it patiently and you will definitely get your money back. If you have spare money, you can cover your position in batches to lower the cost and get your money back faster;
8. For spot trading, long-term holding makes more money than frequent trading. For example, the Dogecoin I bought that year has now doubled more than 20 times;
9. There are several other factors that affect the currency circle: policies of various countries, US financial policies, and the attitudes of bigwigs like Musk towards cryptocurrencies. Therefore, it is necessary to pay more attention to financial news.
Remember, knowledge is wealth. You can only earn what you understand. When speculating in coins, you must have a stable mentality. Don't panic when the price drops, don't be arrogant when the price rises, and take the money.
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