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Trading without knowledge will be the same like gambling, so very important before put money in to trading learn some technical analysis first to understand price action of cryptocurrency market. And then also important to make trading plan and management of money and risk. Dont over trading and try to keep emotion during trading, all this thing need proccess and times so always patient to pass it and later will be possible to become pro trader who can gain profit by consistent.
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I use this money for swing trading and i will chooce Ethereum, Dash, LTC because these coin has big chance to going up again. With continue learn new strategy i will try to multiple this money in to 10 times in minimum 1 years.
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In my opinion Ripple is better because has working product and hasbeen long times ago already in the market, and the founder of Ripple has many experience in blockchain technology, he is also founder of Stellar Lumens, so they can development Ripple to be bigger and give more benefits to the cryptocurrency community.
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I also received many unknow email address but i never click the link because i know some of them is just link phising, since my email publish in some bounty program, i received many emails that just want to phising me. So becarefull when click on the any link and make sure that link is correct, and better always login to personal wallet from bookmark link.
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Cryptocurrency market will continue growing and will make effect positive too with BNB, will be more demand for this coin in the long term because Binance exchange will be more big and there are alot of new people will jump in to cryptocurrency trading and chooce Binance exchange. BNB like other popular coin still able to going up multiple times.
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All coins will be have times for pump so be patient wait for that, and if you want to make money fast put some your money in to others coins or doing daily trading. In this current situation of market only by doing day trading we can make some profit, so split your money in to 2 way, day trading and long term trading.
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Yes some coin turn to fraud like all lending coins, edinar coin and others coin that use MLM marketing to sell their coins like Onecoin, many newcomer in crypto lose because bought this kind of coins. So more education of cryptocurrency is needed for everyone so they will know where is legit and fraud coins.
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I learned about technical analysis and fundamental analysis, but i more focus to learn technical analysis because this is more helpfull. Now i trade on crypto that paired with USDT or fiat so when any bad news come, i can sell ASAP all my digital asset to the that fiat. Because i was trade on pair altcoin with BTC but more difficult how to manage the digital asset from high fluctuacion.
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Just chooce some popular coins in the top 10 ranking like ETH, NEO, DASH,ADA. Buy it and sell by short trading, because in my opinion the market need longer times for ATH because the volume and market capitalization down to much so need more times for cryptocurrency to increasing again.
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In long term cryptocurrency will be bigger and continu growing, but from this high volatility we can make more money by trading, if you now on lose because believe hodl is better than trading, change that you mind because cryptocurrency should be to trade it to minimize the risk, swing trading is better for investor who does not have much times to spend in crypto.
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That right if you hold some popular coin now for the better dont sell it, because the cryptocurrency market will continue to grow, just need more times for that after many FUD and bad news. Lets see the market in 3 to 6 month i think will give us some good profit, the key of success in crypto is patient and also learn how to trade it to maximize the profit from this high volatility of market.
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Its hard to count the profit in daily, because when the market down trend can be in that day we are in loss, but to make profit by 30% amonth will be possible, even you can make more than that, but offcource with best trading strategy and trading plan to reduce any risk in trading. To make consistent profit from trading actually is difficult but by continue learn and focus on that will be very possible.
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Currently im loss over 50% from my total balance and my mistake dont use cut loss strategy, and i was just hodl it. And from this mistake i will change my strategy to selll by partly the coins when uptrend and keep some to fiat or in USDT so when downtrend happen again that some my money will safe there. And now i will trade on pair crypto with USDT only, because the crypto market downtrend together in some periode and also to make more easy to manage the risk when downtrend.
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The price of cryptocurrency depend on the benefits and advantages that they give to the their community, if the coins has many benefits the demand will increasing and offcource the price will rise. Limited supply also will effect the price, the price will fast grow when more demand and will be fast going down when the demand decrease. Learn more about technical and fundamental analysis also will help to more understand price action of the coins.
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Firstly you have to know the risk of trading, and then if know it already make some strategy to reduce it, make trading plan and management of risk and money, and then learn about technical analysis and fundamental analysis. Divide your money each 50% for day trading and for swing trading because the market is unpredictable , sometimes the situation of market day trading will be more profitable but other situation can be swing trading give more profit. Most important thing is dont be greedy and manage your emotion during trading.
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I use technical analysis to predict the price of Bitcoin, and from daily chart my prediction the price of Bitcoin now is level support and ready for Bitcoin to going up and surpass the highest level a few month ago. And in the last of this year the price of Bitcoin could be around $40,000.
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Some ICO now failed because there so many competitor in the market and also the team development not really professional to development the project, but i believe this situation will change and will be other more ICO that successfully and make investor get big profit, because cryptocurrency market and the community will continue growing and will solve this problem.
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That good idea for holding strategy, dont panic sell and just hold it a few years so no need to worry and not consuming times for make analysis again. But should be any portfolio for short investment and for long term investment, because to make money in cryptocurrency will be more profitable by doing swing trading or day trading. So dont hodl all your coin because that no so good idea because fluctuacion of crypto so high and this is opportunity to make more money by trade it.
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