I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?
I have a friend who did this. He was in the finance world, got in during summer of 2017, when the price first got up, at the BCH fork period. Then he stayed here for a long time, up until around late 2020 he turned his 40k dollars into nearly one million dollars, which was already astounding, but then during 2020-2021 period when the price started to skyrocket, he turned that into few million dollars instead.
That is how he got rich and I believe that it is certainly an amazing achievement. All he had with him was his previous Forex trading knowledge, and he used those charts and TA to make this kind of profit in the crypto world as well.
Without a doubt that is an impressive story, however he probably had a deep knowledge about the markets and back then the average level of the ones trading this market was relatively low, now that the market has more volume and adoption more people like your friend are coming to the market, increasing the average level of the traders and at the same time lowering the potential profits they can obtain, but still this shows how you can easily transfer your skills from other markets to this one without too much of a problem.
