I understand that you want to start your journey in cryptocurrency trading. For me, I can rate crypto trading as “very high risk” due to its high volatility. It means Bitcoin and other cryptocurrencies can go up as high or low in a fast pace. The value could go down as much as $1000 in minutes. This is something that you need to be prepared of.
The state of the cryptocurrency market is unpredictable despite that it’s on a bullish trend. Right now, its stabilizing around $11k to $12k. Recently, from $13k it goes down to $11.3k as Bitcoin whales took advantage of it by accumulating more. These whales control the market, and takes advantage of what is going in the world of crypto.
Psychology is tested here, especially for those who are about to get started in cryptocurrency trading. You just need to prepare your emotions when things didn’t go as you expected. Think about an opportunity to buy more when things go down, and sell when it’s about to reach the resistance or breaking it.