Steemit Crypto Academy Contest / S7W2 - Best Moments of Crypto Trading in 2022

in hive-108451 •  2 years ago 

Hello everybody.

Welcome to this post. I hope that all of you will be good and happy and enjoying your precious health with the grace and blessings of Almighty Allah. Today, I am going to be a part of the week 2 contest in the SteemitCryptoAcademy community. The topic of discussion for this week is Top Moments of 2022 (In Crypto Trading). The post is going to be very intestine so stay tuned with me.

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What were your best moments in crypto trading in 2022? We want to know about your experience.


Although, the year 2022 is a very hard period for me as a crypto trader, just like all the other crypto investors and traders. But somehow, I am lucky that I was away from the huge investments in this year. However, many times I used to get engaged with the crypto trading in this year and so many lucky moments also came in my experience throughout the whole year.

The most important and the most exciting moment for me was in the month of April. Actually, my this best moment is related to the launch of the native token of STEPN platform, GMT on the Binance exchange. In March 2022, Binance officially announced to sponsor the Stepn platform and start a pre-sale of their GMT token.

I also wanted to participate in the pre-sale. Actually, it was subscription based pre-sale on the BNB token. We have to subscribe to the sale launchpad by holding the BNB tokens within 7 days from 2 March to 9 March. In those days, I was not much active in trading so I decided to take this step and get the GMT tokens.

On 6 March, I subscribed to the pre-sale. But then, I got involved in the preparation of my annual exams that were very near. In that hustle and bustle, I forgot about the launching of GMT token on the Binance exchange and I stay quite away from the market for about one month.

On 1st of April 2022, I re-opened my Binance and saw that I have received 100 GMT but the value was very low. I saw the chart and it was also in a bearish trend. So, I decided to wait and didn't sell the tokens. When I got from the exams on 26th April, I looked onto the market and I was surprised that I had a portfolio about 400$. Actually, GMT token was on its peak in those days. You can see the below screenshot.

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Screenshot Taken From TradingView

It was the best moment for me in the crypto market in the whole year 2022, and may be in the whole trading experience. I abruptly took advantage and claimed my great profit. It was also a surprise for me as I hardly remember of my investment in GMT because of my attention towards the annual exams.

So, it was the best moment of the year 2022. Moreover, there are many other best moments in the trading experience of the year 2022. Many of those moments were the successful trades that helped me to secure a very huge profit, actually beyond my predictions. But the moment of surprise given by GMT token could never be forgotten.


What were my worst moments in crypto trading in 2022?


Taking about the worst moments in the crypto trading experience of the year 2022, I can never forget two of the major events that happened to me in the year 2022. First of them is the moment of the crypto ICO scam while the other one is a great loss in the form of a great loss in one of my investment in the LUNA coin.

The first worst moment happened with me in the middle of the year, somewhere between June to July. It was the time when Stepn network was going on its peak and I also wanted to buy a sneaker but I couldn't get one because of less capitals. So, I was waiting for something happen good for me but actually something was going to be very bad for me.

A new project, Biken was introduced and I got advertised by many friends and through the social media pages as well. It was related to the Stepn network so I was impressed by them and decided to took part in their Initial NFT Offering which was actually a scam INO. I bought a fake NFT bike of worth about 150$. Later, I realized that I have been scammed.

The second moment that I would like to mention here is the huge loss in the form of decline in the price of a very popular coin, LUNA. There are many crypto traders who had been caught by this great loss and they can never forget it. In July, when LUNA coin experienced about null value, I was holding LUNA of about 180$, but after some days, I have to forget them due to their zero value. You can see the below screenshot.

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LUNA Decline - TradingView

In the above screenshot, you can see that there was a very sharp decline in the price of the LUNA coin during the May and June months. Actually, there were lots of reasons behind this decline including the hardfork in the Terra Ecosystem, mismanagement of the team, fake news, etc.

This was also a great loss for me in the year 2022. These two were the worst moments that I have experienced in the last year. There are minor bad conditions when we have lost a trade or have to face a huge loss, but we should have to understand that risks are always the part of crypto trading.


What did you learn from these experiences of 2022?


The year 2022 was a very difficult and challenging year for the crypto traders and especially the heavy investors of the market. Even, many of the high potential investors became so much disappointed with the situation of the market that they decided to withdraw their money and started avoiding the crypto market.

But we know that ups and downs are the parts of daily life, so the same is the case with the crypto market. Ups and downs are always the nature of crypto market due to its high volatility. These moments taught me many lessons thay I always keep in my mind. Some important things that I learnt from these moments are:

  • The crypto market is a very volatile and unpredictable market so we must invest only that money which is extra for us.

  • From the incident of Biken platform, I got a very important lesson that we must have do proper research work before investing our money in new crypto projects.

  • Crypto world is full of scams and frauds so we should be aware of these scams especially the Initial Offerings and pre-sales.

  • I also learnt that sometimes, the market conditions are not suitable for us but we must have to be patient and courgeous so that we can get better results.

  • Analysis of the market is very important before investing our money because the market of cryptocurrencies is very much volatile.


Tell us about your future in crypto trading for this year in 2023?


The market of cryptocurrency is very volatile so that we can never predict its next move. But some things can help us to determine the conditions of market and forcast the future prices. One of them is the Technical Analysis. Currently, I am learning varioys technical analysis tools and indicators that will help me to be a very good technical analyst.

Talking about my future in the crypto teading 2023, I hope that my crypto journey in 2023 will be very great and I wil be able to utilzie the knowledge that I will learn from the lectures of the technical analysis. Currently, I am a long-term trader and I have staked some coins.

I have decided that after June 2023, I will start regikar trading and adopt ny favorite style, Scalping to get more and more profit from the market of cryptocurrency. Moreover, my more focus is on the high potential coins in the market so that I can also learn various new techniques.

Besides that, my main focus for the year 2023 is the Steem investment. I have decided to invest as much money in the STEEM token as I could because I believe on the very bright future of the Steem blockchain and the STEEM tokens. So, these are my crypto plans for 2023.


Conclusions


The ups and downs are always the part of the crypto market and before making any decisions in the highly volatile market, we should be aware of the risks that are related to the investment. We should have to do proper research before investing our money in any of the crypto project. If the market conditions are not in our favor, we should have to control our nerves and wait for the preferable conditions.


I would like to invite my @simonnwigwe, @fantvwiki, @chant, and @malikusman1 to take part in this amazing contest.


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Thank you @steemdoctor1 for publishing an article in the Crypto Academy community today. We have accessed your article and we present the result of the assessment below

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Comments/Recommendation:

  • You mentioned a clear example of your best moment in the year 2022 which occurred on February 15 when the Binance enabled a Launchpad for the Stepn token which made you encounter alot of profits

  • You mentioned about your two worst moments of crypto trading in the year 2022 which was at the moment of the crypto ICO scam and LUNA coin Crashed. I'm happy you were able to learn from this various incidents in becoming a more better trader

  • You have told us about your future in crypto trading which shall be able to enable you encounter lot's of profits. I pray and hope this plans work out accordingly

Overall, great efforts. You have attended to all parts of the tasks as required, however, you didn't go deep Into context in some parts of the questions as required. Please pay more attention next time

Rating

Total|8.5/10

Thank you so much brother for your kind reviews.

Your comment has been supported by @josepha from team 2 of the Community Curation Program, at 10%. We invite you to continue sharing quality content on the platform, and continue to enjoy support, and also a likely spot in our weekly top 7.
Voting date:

18/01/2023


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Hi @steemdoctor1,

Wow, apsy ye sun kar dil ko khushi huii ha k apny GMT se kafi profit bnaya tha, magar mje GMT me bht nuksan hua tha, apko Luna coin me nuksan hua, magr nafa nuksan game ka hisa hain. NFT offering wala scam sun k afsoos hua. Ap ne in tajarbat se bht kuch sikha ha, baz okat market trading k lye suitable nahi hoti hamy yaqeenan un halat me sirf or sirf sabar karna chaye. Mje dawat dene k lyee apka dil se shukria. Me jald shirkat karunga.

Regards,
@malikusman1

Apky comment ka bohat shukria boss. Me apki entry ka muntazir rahon ga

Your post has been supported by @josepha from team 2 of the Community Curation Program, at 40%. We invite you to continue sharing quality content on the platform, and continue to enjoy support, and also a likely spot in our weekly top 7.
Voting date:

18/01/2023


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Thank you so much @josepha brother, for the support.

Scammers are all over my friend. After buying an NFT bike of worth $150, you later discovered it was all scam. This is indeed painful and this is also a lesson that we need to take into consideration and make proper research before investing in anything as such. My case was not different tok my friend and i felt it so much because the money was meant for something else. I wish you success in this contest my friend.

Thanks for your comment brother. Yes, we must be much careful in the crypto space.

It's a bad experience you've had with your losses on Luna Coin. This is among the top 10 coins, but no one could have predicted that this coin would collapse so disastrously.I congratulate you for gaining in GMT coin.

It is really great that you want to strengthen your position in the crypto market through future technical analysis. I hope you can use all your past experiences to fulfill all your goals in crypto in the future.I wish your success in the crypto world .

Thank you so much for your beautiful comment bro.

Anda luar biasa saudara, anda memyimpan Token GMT di wallet anda dan anda lupa akan hal itu, namun saat anda membukanya lagi anda sudah memiliki profit yang sangat besar, itu adalah momen yang sangat luar biasa, sukses terus kawan. 😊💪

Thanks 👍

You're welcome😊

I heard about the announcement of GMT on the Binance launchpad but I didn't have enough BNB to take part in the pre-sale then but later participated in some. Even though didn't buy GMT in pre-sale, I trade it in futures many times and I made some profits from it.

Sorry to hear about how you lost money in LUNA, I was fortunate that I was not holding any when it fell but later made some profits from it when the market was trying to go bullish again. The crypto market is looking fine these days and we may have a good trading year.

Thanks for the precious comment here, friend.