The three principles of success this late 2024

Avoid Going All-In

Once you’ve determined your total investment amount, start with only a portion for your initial crypto purchase based on thorough research. Retaining cash on hand allows you to buy during market dips, reducing the risk of substantial losses if your initial strategy doesn’t meet expectations.

Resist Panic Selling

During rapid price declines, refrain from panic selling unless you’ve already realized significant profit and are considering an exit. Often, market drops are orchestrated by large investors (whales) to acquire assets at lower prices. While external factors, like exchange bankruptcies or regulatory bans, can impact crypto prices, history has shown that markets often recover over time.

. Evaluate the Risk-Reward Ratio

It’s often more feasible for a coin to double from $1 to $2 than from $1,000 to $2,000, despite both being 100% gains. Once you reach your profit target, avoid holding out for a major surge, which could risk unrealized gains. Market volatility remains unpredictable, so balance ambition with risk.