I am 32 years old this year and started trading cryptocurrencies at 22. By 2023-2024, my funds reached 8 figures. My current lifestyle includes staying in high-end hotels costing around 2000 yuan, and my suitcase and hat may carry cryptocurrency symbols. It's much more comfortable than what the older generation did in manufacturing or what the post-80s did in e-commerce.
I have hardly experienced any business disputes, and I have fewer worries.
The biggest point in trading cryptocurrencies is having a good mindset; technology is secondary.
1. In most cases, Bitcoin is the leader in the rise and fall of cryptocurrencies. Strong coins like Ethereum may sometimes deviate from Bitcoin's influence and have a one-sided market trend, while altcoins generally cannot escape its impact;
2. Bitcoin and USDT move in opposite directions. If USDT rises, be alert that Bitcoin may fall; when Bitcoin rises, it is the right time to buy USDT;
3. Between 0:00 and 1:00, spike phenomena are likely to occur, so domestic cryptocurrency friends can try to place a buy order at a low price for their desired coin just before sleeping, and a sell order at a high price; you might just make a successful trade while lying down;
4. Every morning between 6:00 and 8:00 is a time to judge whether to buy or sell, and also to assess the day's rise and fall. If it has been falling from 0:00 to 6:00, and continues to fall during this period, it’s a buying or averaging opportunity, and it will likely rise for the day. Conversely, if it has been rising from 0:00 to 6:00 and continues to rise, it’s a selling opportunity, and it will likely fall for the day;
5. 5:00 PM is an important time point for rumors in the cryptocurrency community due to time zone differences. American cryptocurrency friends are waking up to work, which may cause fluctuations in coin prices. Significant rises or falls have indeed happened at this time, so be particularly cautious;
6. There is a saying in the cryptocurrency world about "Black Friday," as there have been a few instances of coincidental large drops on Fridays, but there have also been large rises or sideways movements. It’s not particularly accurate, just pay a bit of attention to the news;
7. If a coin with a certain trading volume guarantee falls, don’t worry. Patiently holding it will ensure you break even. In the short term, it can be 3 to 4 days, in the long term, a month. If you have spare USDT, you can average down in batches to lower the price, and you will break even faster. If you don’t have spare money, just wait; it won’t let you down, unless you really bought I coin;
8. In spot trading, holding the same coin long-term with fewer transactions yields greater returns than frequent trading, depending on your patience. I bought Dogecoin at 0.089 and it has increased more than 20 times since then.
