So let’s talk about trading crypto. I am quite new to trading crypto but would like to talk about the experiences I have encountered on the crypto trading market.
Trading can be risky and I have encountered both good and bad trades. My current goal is to try to build my account up through multiple smaller trades a day. However, when a coin crashes this tactic can totally be disrupted because you either take a huge loss or you decide to wait it out till the coin bounces back up, if it bounces back up.
If the market will bounce up is of course dependent on a multitude of factors. For example, if there is a whale holding the currency down, if there has been some bad news for it, etc.
If there is a whale holding the cryptocurrency down, quite often a bounce can be seen when the whale is either bought out or he decides to let the crypto free. However, the magnitude of this bounce is dependent on how long the whale has kept the crypto under his control.
When it comes to a sudden crash of a crypto I seem to have the best results in waiting for the bounce rather than taking a loss and moving on.
Thank you for reading and please share your experiences with the crypto market.
Also this is in no way or form financial advice.
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