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The feeling of this situation is really painful when you have been holding bitcoin for a long time and after selling for a small profit, the market rises rapidly and reaches a high price. I had some deposited bitcoins which I sold at $13k then the market quickly went up to $40k. And I'm thinking right now that if I hadn't sold my deposited bitcoins at that time, I could have made a lot more profit. While it is frustrating to see the market rise after the sale, it is a part of the trade and not to despair, we need to focus on the next step.
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I agree with you because it is safer and more reasonable to make a small profit by investing in some of the best Altcoins than to completely lose the money invested in the hope of making more profit through investing due to unknown altcoins. In most cases, it is seen that some altcoin sells by encouraging the investors by raising the price of the altcoin by the project team after they come in the market, and then the market value of the altcoin gradually decreases and becomes almost worthless. So it is possible to make a profit by investing in good quality altcoins instead of investing in any altcoins in the hope of making more profit.
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All the subjects of the above are among the possibilities of losing money very quickly in trading. However, the fastest way to lose money in cryptocurrency trading is to invest in a counterfeit coin. If you invest in an unsafe and unplanned project in Altcoin and hold on to it, there is a possibility of a complete loss of money invested in your trading and this has been the case in many Altcoin trades so far. I have also encountered such incidents while trading in an altcoin.
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We are all very happy and excited about the rise in the price of Bitcoin but many are using this positive side for their nefarious purposes. As the market grows, the origin of scammers increases, and they can easily deceive enthusiastic people. Therefore, new projects and areas of investment should be carefully considered before investing. The decision should be made by analyzing the market through proper data verification and selection whether it is hastened by fake information or news.
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We all know that Bitcoin dominates the world of cryptocurrencies alone and is the most popular cryptocurrency for people around the world. The value of most cryptocurrencies fluctuates directly or indirectly depending on Bitcoin. In most cases, the value of other altcoins decreases drastically when the price of bitcoin decreases but the value of other altcoins does not increase at the same rate as the value of bitcoin increases. So far we can't think of cryptocurrency without bitcoin.
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Trading after reaching the Alltime High is a risky business and it is very important to exercise caution. In this case, the market needs to be monitored round the clock to trade and day trading can be applied. Another thing that can be applied is support resistance because if the market goes into profit after taking the trade, then the trade has to be held and the surveillance has to wait. On the other hand, if the trade goes to a loss, the analysis will have to wait until the support resistant. Trading in this way will reduce the risk of loss to a lesser extent, otherwise repeating the previous experience can lead to greater losses that could deplete your resources.
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I don’t think this is a reasonable argument for all types of trade. There is a saying in trade, No risk no gain. There are only a few cryptocurrencies, including Bitcoin Ethereum, that you can buy and store for a long time. But in the case of day trading, position trading, or swing trading, you need to invest in different types of cryptocurrencies by taking risks and buying them. Therefore, through market analysis, if a cryptocurrency is likely to rise in value in the present or in the near future, it is possible to make a profit by buying it. So it is safe to say that even if your opinion is reasonable in the case of safe trade, it may not be considered in all cases for the sake of profit.
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The coronavirus epidemic is causing an economic crisis around the world, and every country will soon experience economic stagnation. This situation makes cryptocurrency users very worried about the future of cryptocurrency, but we are currently seeing the opposite. The economic downturn caused by the epidemic has already had a positive effect on cryptocurrency. Extensive analysis has shown that due to the economic crisis, small investors have withdrawn some of their money from cryptocurrencies, but large investors in other sectors have not been able to invest in their fields and invest their money in the cryptocurrency and that makes cryptocurrency price pump. So it can be said that big investors in other sectors are becoming interested in cryptocurrency or will be due to this economic crisis which will bring positive results for cryptocurrency.
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People use different types of mobile wallets for their purposes. Some of the most used wallets are called trust wallet, Tronwallet, wombat, Tezbox, and also many wallets. Of all these wallets, however, my favorite is the Trust Wallet because it seems to be convenient and reliable to use.
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