On April 13th 2024, BTC price dropped from 67k to 60.6K, almost 7% declined and Altcoins went down to 20-30%. The second wave of slump in the market is likely to be expected before halving. $BTC along with Altcoins may face another dive, but how much deep? No one knows exactly. If someone’s telling you that BTC could fall to 45K-50K or something like that, then be wary and cautious, they’re selling you FOMO again, and you’re getting it subconsciously & involuntarily.
Always do your research and keep your eyes on current market situations by following authentic sources like financialjuice.com, crypto.com, and news.bitcoin.com. Beware of fake social news being propagated deliberately to create fuss among retail traders and investors, and also avoid sentimental sources like “Trust Me Bro”
Action Plan
We’re all here in the crypto space to earn and make some money, not to empty our wallets. So, it’s better to avoid futures trading before halving, and after halving either. If you’re addicted to futures trading, then manage your risk by lowering leverage from 3x to 5x maximum, by adding optimum margin, and isolated mode, so your remaining assets won’t affect if the situation goes averse to yours. And if you’re trading in futures with less than $100 (at least), and taking a high leverage, there’s a high probability of getting doomed. While taking a high leverage in futures trade, should you consider it an opportunity for taking large trades or it’s just a bait to hunt your assets/funds? Think twice and thrice. (In a recent drop on 13th April 2024, it’s reported about $970 Million were liquidated from the Crypto Market, shoutout to greedy guys!).
The safest trading strategy is Spot Trading, Spot DCA, and Auto Invest. Even if the BTC price drops to $10, your assets are still in your hands, and safe in Spot DCA & Auto Invest.
What’s the best thing in Spot Trading, DCA Strategy & Auto Invest? You’ll feel blessed when the market drops or even crashes, while future traders are in fear of liquidation.
Cheers!