Fancy yourself a crypto millionaire? Follows these 5 rules for a path to riches.
Investing in any financial asset can be a tricky exercise, but this is especially true for the fast-paced cryptocurrency market, which comes with its own unique set of pitfalls and challenges.
When a cryptocurrency has made significant gains, especially if the price went parabolic in a near-vertical line on its trading chart, the best move is to take profits and allocate those funds either to stablecoins or different assets whose trading cycles are not exhausted. A quick survey of past bull markets will show boatloads of token pumps and token dumps in bull and bear markets, proving that there is no shortage of opportunities to get in early on high-flying projects and book solid gains amid the fast-paced hype cycles that the cryptocurrency market is known for.Technical analysts often like to assert that crypto follows a series of predictable cycles, which they use to validate certain pieces of their craft.
In the end, the 2021 rally saw a unique double-top unlike any previous market cycle and could possibly extend into 2022 in alignment with the prediction by some that theThe main takeaway is not to expect the market to perform as it has previously and focus on trading the market you have. Follow the trends in price, and make sure to keep Rule #1 and Rule #2 in mind.
This is strictly a mostly short-term play and is most often a case where Rule #1 is applied in full, as the vast majority of new arrivals to the altcoin market flare out within the first year.This final rule is meant to help maintain a. There is far more to life than investing in cryptocurrencies, or any other market.
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