Despite the approval of the Bitcoin spot ETF, the sentiment around the market is not what investors actually expected. Also, it is quite uncertain if the BTC post halving will lead to the next bull run hence it’s important to have a plan mapped out while anticipating the next bull run. There quite a lot of the strategies to consider but I will discuss 6 of them below.
a. Research potential investments thoroughly
Before you start investing in any cryptocurrency, it is essential to take your time to research, study, analyze and understand the crypto project’s fundamentals, team, goals, roadmap and potential for growth.
b. Watch out for market sentiment
You should also monitor the all-around sentiment in the crypto market as it will help you to make informed decisions during investment. You can monitor the market sentiments by staying updated about the latest news, keeping an eye on expert opinions and insight, and following market indicators or trend.
c. Diversify your portfolio
When it comes to cryptocurrency investment or any other kind of investment, you don’t put all your eggs in one basket. It is crucial to diversify your investments across different cryptocurrencies and areas within the crypto market. Diversification is a strategy that can you manage risk and maximize profits. While the certainty is not assured, you might want to consider some earn product like Shark Fin, Smart Trend, Dual Investment and many other product that investors are using to stay afloat in this period.
d. Set clear investment goals
Before you start investing in crypto you must set out clear investment goals so that you don’t lose focus along the line. Establish your investment goals, risk tolerance, as well as the time horizon before you enter the market. Setting up a clear plan will help you make more reasonable investment decisions.
e. Use dollar-cost averaging
Rather than trying to time the crypto market, try the DCA strategy by investing a fixed amount of cash at regular intervals. This method can help to minimize the effect of short-term price changes and decrease the risk of joining the market at a high point.
f. Take your profits when necessary
While it is important to have a long-term investment plan, don’t be among the moonboys and ensure you take profit when you attain your targets. By doing this, you lock in profits and avoid terrible losses during crypto market corrections.
Hopefully this piece will be of help while we await the crypto bull run, do you have other strategies that could be vital for readers, feel free to add in the comment section.
I typically trade using one of my two main trading philosophies. When I first started investing in cryptocurrency, the first thing I learned was to use spot trading to purchase and hold some coins, primarily for the long term. If I need to make short-term transactions, I use Bitget's copy trading feature, which has proven useful, especially when the market is fluctuating. Although I would have tried several DEX bounties, I think the petrol fee is excessive.
What are your favourite indicators?
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DCA is my long term investment strategy while copy trading is my short term investment tool. And i mostly use bitget's copy trading cos they have a good number of elite and profitable traders tp copy from
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I think the exchange you mentioned is well known for its Copy trading product. The product has played a huge role towards boosting crypto adoption since it helps newbies make a seamless transition into the crypto space while they can hone their trading skills at their own pace and stay profitable while at it.
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Copy trading is one good feature to leverage on esp as a newbie in crypto.
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