Ten Years of Cryptocurrency Trading: Ten Key Points for Wealth Accumulation (Worth Collecting)

Is it feasible to become rich through cryptocurrency trading?

In the crypto world, achieving financial freedom and class mobility must adhere to the iron rules of the market: Ten Key Points for Wealth through Cryptocurrency Trading

1. Keep a close eye on Bitcoin trends

In the crypto world, Bitcoin often leads the direction of market fluctuations. While Ethereum may sometimes show strength, exhibiting independent trends, most altcoins are influenced by Bitcoin.

2. Pay attention to the relationship between Bitcoin and USDT

Bitcoin and USDT often exhibit inverse movements; when USDT rises, be cautious of Bitcoin dropping, and when Bitcoin rises, it’s an opportunity to buy USDT.

3. Seize trading opportunities in the early morning

From 0:00 to 1:00 every day, price spikes can easily occur. Domestic traders can set low buy orders before bed and high sell orders, potentially resulting in surprise transactions and easy profits.

4. Observe the morning market trends

From 6:00 to 8:00 every morning is a critical period for deciding whether to buy or sell. If there’s a continuous decline from 0:00 to 6:00, and it continues to drop, it’s advisable to buy or add to positions, as prices are likely to rise that day; conversely, if there’s a continuous rise, it’s better to sell, as prices are likely to fall that day.

5. Pay attention to afternoon volatility

Particular attention should be paid at 17:00, due to time zone differences, as traders in the U.S. begin their operations, which may trigger price fluctuations. Many significant rises and falls occur during this time.

6. Be cautious of “Black Friday”

There’s a notion of “Black Friday” in the crypto world; although significant drops can occur on Fridays, there can also be substantial rises or sideways movements, so keep an eye on the news.

7. Be patient with declining cryptocurrencies

If a coin with a certain trading volume declines, don’t worry; holding onto it patiently can help recoup losses. This may take as short as 3 to 4 days or as long as a month. If you have extra funds, you can buy in batches to accelerate recovery, unless it’s a junk coin.

8. Stick to long-term spot trading

When trading in the spot market, holding the same coin long-term with fewer trades often yields better returns than frequent trading; it all depends on your patience.

9. Pay attention to external influencing factors

The crypto market is volatile and influenced by many factors, such as various countries' attitudes toward cryptocurrencies; a negative stance can lead to declines; U.S. financial policies, like rumors of a rich tax; and influential figures' opinions on cryptocurrencies, such as statements from Elon Musk. Stay updated with financial news.

10. Maintain a good cryptocurrency trading mindset

Having the right mindset is crucial in cryptocurrency trading; stay calm during significant drops and humble during substantial rises, securing profits when possible.

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