The cryptocurrency market is known for its volatility, with prices capable of fluctuating greatly in a short period. This will create difficulties for you, especially for those who are new to the market...
The first thing you need to know is that you need to RESEARCH THOROUGHLY and equip yourself with basic knowledge about crypto: Follow market news, how to read candles, how to view waves...
BUT INVESTING ALWAYS COMES WITH RISKS. Newcomers need to shape their risk management mindset, always diversify their investment portfolio, and not put all their eggs in one basket. Only invest money that YOU CAN AFFORD TO LOSE, the cryptocurrency market is very volatile and you can lose PART or ALL of your investment.
Whether we can achieve profits or not depends on how we set our INVESTMENT STRATEGY. If you invest long-term, consider the buy-and-hold (HODL) strategy, don’t panic and sell off when the market drops. If you want to trade short-term, remember that YOU MUST ANALYZE TECHNICALLY AND MANAGE RISK STRICTLY! I have witnessed many people lose half or even go BANKRUPT due to FOMO following the market, without a specific strategy.
And one crucial factor that determines 70% of your success is your trading mentality, learn to control your emotions. Don’t let greed or fear influence your investment decisions. Always keep the word "PATIENCE" in mind, investing in cryptocurrency is a long-term process. Don’t expect quick profits; success will come to those who NEVER GIVE UP.
By following some principles I have outlined, you can minimize risks and increase your chances of success in the highly volatile cryptocurrency market.
WISHING YOU SUCCESSFUL INVESTMENTS!!