A millennial cryptocurrency trader from Shenzhen has become a role model for the new generation. He is also a long-time friend in the crypto world. A few days ago, we met and talked about his brilliant past. He spent 6 years researching and practicing in the cryptocurrency space, claiming that making money is quite easy, as many complicate the process unnecessarily. He has consolidated his foundation steadily and now earns 8 figures monthly and 9 figures yearly!
I have summarized her core secrets and now present them to those destined to learn and master them; they are worth cherishing! The reason he can earn 8 figures monthly and 9 figures yearly is that his foundation is exceptionally solid. Now, I will share the practical insights.
First: Here are some tips for newcomers and veterans in the crypto world.
He discovered the following rules in the cryptocurrency market: 1. In most cases, Bitcoin leads the rise and fall in the market. Strong quality coins like Ethereum may occasionally break away from Bitcoin's influence and perform independently, while altcoins generally cannot escape its impact.
2. Bitcoin and USDT move in opposite directions. If you find that USDT has risen, be cautious as Bitcoin might drop. When Bitcoin rises, it's the right time to buy USDT.
3. A spike phenomenon often occurs between midnight and 1 AM, so domestic traders can try placing a buy order for their desired coins at a low price before going to sleep and a sell order at a high price; you might just make a profit while lying down.
4. The period between 6 AM and 8 AM is a crucial time to judge whether to buy or sell, as well as to assess the day's potential rise or fall. If the price has been dropping from midnight to 6 AM, and it continues to decline, this is a good time to buy or average down. The day will likely be bullish. Conversely, if the price has been rising during this timeframe, it is likely to be a selling opportunity, leading to a probable decline throughout the day.
5. 5 PM is an important time to pay attention to rumors in the community. Due to time zone differences, American traders are waking up and starting their activities, which may cause price fluctuations in cryptocurrencies. Significant rises or drops have indeed occurred at this time, so be particularly attentive.
6. There is a saying in the crypto community about 'Black Friday+'; there have been a few instances of significant drops on Fridays, but there are also cases of big rises or sideways movements, so it’s not particularly reliable; just pay a little attention to the news.
7. If a cryptocurrency with a certain trading volume drops, there's no need to worry. Patience will ensure you recover your investment within a short period of 3-4 days or longer, up to a month. If you have spare USDT, consider buying in batches to lower the average price, as this will speed up recovery. If you don't have extra funds, just wait; it won't disappoint you unless you've really bought a worthless coin.
8. Holding the same cryptocurrency for a long time with fewer transactions yields greater returns than frequent trading. It just depends on whether you have the patience to hold. I bought Dogecoin at 0.029 and have held it until now, increasing more than 20 times, which is the highest increase among all my coins (though I bought too little at the time, only 1000 coins, and plan to hold until the end of the year).
9. Factors affecting volatility in the cryptocurrency market: 1) The attitudes of various countries towards cryptocurrencies; if negative, there will generally be a wave of declines. 2) U.S. financial policies, such as recent discussions about taxing the rich (commonly referred to as the 'wealth tax'). 3) Influential figures like Elon Musk and their attitudes towards cryptocurrencies; for example, if Musk tweets about Bitcoin or Dogecoin, it can drive up the prices of these coins, thereby boosting the entire market. Similarly, statements from Warren Buffett about Bitcoin can have a negative impact. Therefore, it is essential to pay attention to financial news. I strongly agree with the saying: the boundaries of knowledge determine the boundaries of wealth; a person can only earn wealth within their knowledge limits.
The mindset for trading cryptocurrencies must be good. Do not let your blood pressure rise during significant drops, and do not get carried away during major upticks. It is crucial to take profits and secure gains. When I first started trading, I was so worried that I couldn't sleep well and often woke up in the middle of the night. Now, I am much calmer. For those without many resources, being pragmatic is the unshakeable way to survive.
