💰 Follow the Smart Money💰

What does it mean to "Follow the Smart Money"?

Generally speaking, the expression "Smart Money" refers to the big investors. These can be either institutional players or whales (individuals with a lot of money).

There are multiple ways which can help with this:


1. Focus on monitoring the Trading Volume ⭐

When big swings of the price happen, it might be worthwhile to verify large single transactions or multiple smaller sized chunks from the same wallet.

This requires on-chain tracking of specific wallets, but doing so can help you identify where the money is going / coming from. Eventually, some patterns might be identified, which can afterwards help you take a more informed decision.

2. News & Announcements ⭐

Pay attention to industry announcements or project updates that might signal significant changes to a cryptocurrency. The smart money usually moves to the most promising projects.


3. Follow Social Media, with a grain of salt ⭐

Social Media can be a double-edged sword. This is to say that sometimes you can gain an advantage by following respected people in the industry or learning new things from other people's insights. Moreover, if you do happen to be at the right place and the right time, you might see something similar to the Tweet that was posted 2 days ago which caused ETH to jump 23% in price in just 2 days.

If you wait for others to give you the news, it might take a longer time, time which is essential in order to catch certain price swings.
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Of course, these are not the only ways, but it's a good starting point. Always make sure to do your own research and learn as much as possible about this market in order to not be caught off-guard.

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