The secret that cryptocurrency traders don't want you to know!
If you've felt that every time you buy a coin, its price drops, and every time you sell, it rises, you're not alone! It's a common phenomenon that costs many traders with small investments money. The reason behind this is the "upward trap," a market trick that lures traders into buying when the coin is rising, which leads to an oversupply and, eventually, a price drop.
Here's a valuable piece of advice based on this secret:
Don't buy when the coin is on the rise! It's a common mistake. Wait for the right moment.
Diversify your portfolio. Don't put all your eggs in one basket. Spread your investment across several coins to reduce risk.
Research before investing. Make sure to know the coin and its project well before committing your money.
Don't sell in a panic. When the price drops, the temptation to sell is huge, but remember that these markets move based on supply and demand. What drops today, may rise tomorrow. Be patient!
Avoid the FOMO trap. Don't sell a coin at a loss to jump to another that is rising. It's a common trap that makes you lose money twice.
Buy on the dips! The best time to buy is when the market is down. That's where good buying opportunities are found.
Don't sell below your purchase price. Maintain discipline and wait for your investment to generate profits before selling.
If your investment is small, look for low-cost coins. Instead of investing in coins that cost more than $1, look for those with lower prices to maximize your potential gains.
Remember: The goal is to win, not to lose. Patience and discipline are your best allies in this volatile world of cryptocurrencies.
Upvoted! Thank you for supporting witness @jswit.
tweet link
This is an informative post of The secret that cryptocurrency traders don't want you to know.