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4 Cryptocurrency Investing Strategies

Being a trader in the crypto market is like being a warrior in a war. You need a strong strategy to win in both battles. Although there are many complicated strategies, you need some easy ones to build your own way to success on this trip. So four cryptocurrency strategies are explained in this article. First of all, keep in mind that cryptocurrency is not the easiest way to find wealth and get rich. There are always various risks in investing, especially in the crypto market. So you should decide in the first step what kind of trader you are, a day trader or a Hodler? After that choose the best strategies although some strategies are used in most trading styles.

1. Today is better than tomorrow

You may have met people who say: “if I had bought bitcoin in 2009 I would be wealthy now. But today bitcoin is expensive. Do not buy it! Wait for it to reduce and then you can buy Bitcoin.” Forget about 2009! The truth is that the next day is not a good time. Today is the best time to start. If you don’t buy crypto today, you will regret it tomorrow. There is a Chinese idiom which says the best time to raise a tree was 20 years ago and the best next time is now. Research wisely about the market and take your next steps with confidence.

2. Buy and sell too

You have good buying strategies for example you invest 15% of your salary on crypto every month, you are ready to buy coins in dips, you buy a crypto when it reaches X point and other good strategies but they are not enough to win in the market unless you don’t use strategies to sell your crypto at the best time. It is a fact that we assume bitcoin as a digital gold which means that it will maintain value during times but other coins are not the same. Think about the best coins you know in 2013 or 2017. Are they still alive? NO! Most of them have vanished with people behind them by today. So It is recommended to assign a stop-loss point for your altcoins. You should have clear and functional exit strategies. Do not be too greedy when your investment grows so fast. You should assign an exit point in growth too. For example, you buy $1000 of dogecoins, when your assets reach $3000 dollars it is better to cash $1500 dollars of your investment then you can get back your starter money and its benefits beside remaining a dogecoin holder too if it is important to be.

3. Buy in dips

There is a risk to buy coins at a downward market price or in dips but to be honest it can be the best beneficial trade. Think about bitcoin’s price in the last year. Remember the stories from Elon Musk tweets to news around China which affected bitcoin’s price. Watch out the market it seems buying coins like bitcoin and Ethereum is good when the market drops to 60% in value.

4. Control the greed

Be greedy for coins but not for “Shitcoins”. You may search for currencies with 1000% return potential right now, on YouTube and you click the first result. It says: buy DOGEMOON CRYPTORBIT today, don’t miss out on this opportunity! And you buy that then after a while you watch how your money decreases and it becomes zero. It doesn’t matter if you don’t know about blockchain or even crypto trading but it is important not to follow others blindly since following them can wind you up into a big loss.

Bottom line

Cryptocurrency trading is similar to stock trading but there is a big difference since there are many fluctuations in the crypto market which are less in stock market. So the crypto market needs special knowledge and being up-to-date beside checking the analyses. If you want to win you need to be fast in the crypto market. The Strategies explained in this article are simple but we may forget them. the important point is to always keep them in mind.

 

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