Buy red, sell green. A few examples when this technique worked just great
Binance announces the delisting of the anonymous cryptocurrency Monero. The platform cited the reason for removing the trading pair as “not meeting its strict criteria.”
XMR immediately reacts by dropping 40% from $166 per coin to $101. It is more logical to sell at this moment, but we understand that everything is not so simple. Those who believed in the project further could buy the coin at $100-110 per token and now they would see on the screens $145-146 with an increase of approximately 40-45%. Yes, the coin is not traded on Binance, but it is still relevant and has the potential for further growth.
My favorite observational example is the Binance exchange token. The US Securities and Exchange Commission began proceedings regarding $BNB and the token immediately responded with a strong drop from $420 to $220 per coin. The price fell for several days and then began to slowly correct upward. Today the cost of the Binance token is $530.
So what am I talking about? What to do with this information?
Friends, be rational when buying and selling tokens. Check the information, trust yourself and your instincts, conduct a complete analysis. And the most important thing to remember is that the coin does not lose its value due to the time period. It can be cheaper during a bear market and be several times higher in value during a bull market. If there is a functionality behind a coin, then its value changes only due to rumors or a change in the cycle from bullish to bearish and vice versa.
