To profit in the cryptocurrency world, remember these 5 secrets.
1. Buy low and sell high; patience is key. Simply put, buy during bear markets and sell during bull markets. Bull markets last about six months to a year, while bear markets can last one to two years. A cycle of bull and bear markets occurs approximately every three to four years. Master timing, and it is possible to earn at least 50% profit in each bull market, which is significantly higher compared to other investments.
2. Select valuable coins, be patient, and choose coins that truly have potential, then enter the market when prices are at their lowest and wait for the value to rise.
3. Focus on the mainstream. Bitcoin and Ethereum are the evergreen trees of the cryptocurrency world. Buy during bull markets and sell during bear markets to secure at least 50% profit. Additionally, some platform tokens, strong foundational chains, and coins with strong consensus are also worth investing in.
4. Sell 50% during the mid-point of a bull market. Set a trailing stop-loss towards the end of the bull market; once the market begins to decline, sell what needs to be sold, and do not hold unrealistic expectations.
5. Keep a clear head and avoid following the crowd. Although there are many opportunities during bull markets, especially when altcoins surge, it is important to remain calm and not harbor fantasies of getting rich overnight. Heavily investing in altcoins carries significant risks; small investments are manageable, but avoid putting all your eggs in one basket. The most crucial point is to always protect your principal. If the market becomes unstable, cut your losses in time and patiently wait for the next opportunity. Remember, in the cryptocurrency market, the safety of your funds is the most important.