You’re investing in a coin that has just been pumped. For example, in the last 24 hours the coin price was $0.24 and now it is $0.38. This is the most tempting time to invest, but typically the price will crash to $0.31 a day later or so.
You’re not watching the historical data on CoinmarketCap for a particular coin. See this example for Litecoin. The price for Litecoin has fluctuated between $78 and $88 for the most part recently, so if you saw the coin at $108 that might be buying it at the wrong time. https://coinmarketcap.com/currencies/litecoin/historical-data/?start=20180626&end=20180726 Litecoin could keep climbing from $108 though, so this isn’t a perfect way to analyze a coin.
You’re only look at the top results for the biggest gainers and losers on Coinmarketcap when you make investing decisions. Most of these coins were just pumped. See #1. Sometimes these coins make for good investments, but only if the product is strong or there are enough investors that won't move on to another coin after they've made their profits.
You’re investing in a coin that is already worth millions like BAT or Basic Attention Token and thinking you’re going to double your money in just a few days. All I can say is that this is not very likely to happen in 1 or 2 days with a coin worth this much. BAT coin is currently worth $345 million, and for it to double overnight it would have to reach a market cap of about $700 million. This is not impossible, but it is very unlikely to happen quickly. Basic Attention Token might be a good long-term investment, but it is probably not a great short-term investment.
You’re not selling for profit… If you think a coin has just been pumped then it likely won’t stay that way for too long. Take for example STQ (Storiqa) a month ago or so. It got listed on Indodax and had a market cap of $50 million which then rose to $150 million in just 2 days. This kind of growth is usually very unsustainable. So if you had sold Storiqa at the top you would have just doubled or tripled your investment. But if you wait too long it will crash and you will have lost this opportunity. Storiqa is back to a current market cap of about 26 million. There is always a chance that a coin like Storiqa takes off and never hits the ground again, but more than likely it will rise and fall in cycles.
This is not investment advice and there are definitely plenty of other strategies for trading, but this is a great way to stay ahead of the market and profit even in a Bear market.
We all believe we are investors in this cryptocurrency space, but most of us are traders. We want to make profits and not wait years to get returns on our investments. Let me know what you think in the comments below. Thanks!
I love this. Nice one
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Thanks! I'm trying hard to create relevant and good posts.
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awesome nature and awesome photo..nice blog sir..
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Well said thank you for the information.
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Good analysis!
These are the facts, basically.
Thanks you
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You are really providing nice advice, people would love if you post different different trading strategies with their easy explanation..
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I like your excellent post thanks for sharing it's awesome
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Well said and thanks for the informaton
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I think bestcoin to invest is litecoin...
and nyc post bro
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Weldone. You've done a great job with your well researched information. Thank you
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Thanks for the vote boxmining! You helped me decide to buy my first hardware crypto wallet.
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Nice post, all the information you suggested are very useful !!
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MAIN reason why your portfolio isn't performing well:
You follow the market trends. That means you are always LATE. And you are doing exactly what most people does.
So you will earn a bit if everyone is throwing money on trending coin. But you will also fall with those masses.
Best way is always to find your own way.
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i think that te market is not currently in its full potential which i hope will be soon , nice post.
you can help me to grow at akash1singh .
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Ok thanks for info
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nice one
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You got a 81.69% upvote from @emperorofnaps courtesy of @the4thmusketeer!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
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@ the4thmusketeer i agree with u that growth of such are unsustainable but some time if we take right decision at right time then it may help us to make good profit so wait for that time too.
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yeah, it's a bit tricky investing in this market. But usually there is a better time to buy then right after a pump.
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The time and energy you took to pen this very useful information down is well appreciated thank you.
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Nice information
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thank you for the information.
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it's really great post. thank you for this post.
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This post has received a 27.50 % upvote from @booster thanks to: @the4thmusketeer.
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Congratulations @the4thmusketeer! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
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To support your work, I also upvoted your post!
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Good knowledge bro i upvoted you
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Awesome nature and Awesome photo! I like it so much!
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@the4thmusketeer what do you think about cryptocurrency prices can make a rise again this year ?
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Yes, I can't see crypto going away anytime soon. Not every coin will be a good investment, some will be the equivalent of burning money. But overall, I think if you're in some of the more promising projects you're in good hands. Several new companies are considering Ethereum or Bitcoin payment options.
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@the4thmusketeer would you like to lease your SteemPower to me for Daily Upvotes from me.
Please do reply if you are interested I can give you the actual rates.
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Yes
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I bought and now I HODL. Bitcoin is not as sexy right now but its the safest and most reliable coin in the market for the long haul.
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Good investments are at the core of every business success. One way to understand how crypto investments work is to look at the historical data on CoinmarketCap for a specific coin (e.g. Litecoin) and see how the price fluctuates. Additionally, only top results for the gainers or losers on CoinmarketCap should be taken into account. However, you need more time to see good outcomes (e.g. Basic Attention Token which could be a long-term investment).
A place to follow your investments is our platform Blockbasis where you can safely store, send and receive cryptocurrency with an email. Moreover, you can exchange cryptocurrency and trade directly without intermediaries on our DEX and see transactions happen in real time.
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