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I always state myself as an infant in the crypto world. Sometimes I feel like I am pro and in another moment I feel so dumb and lost. I love to explore so I chatted with my friends and every one of them except some REAL PRO crypto persons all of them feel the way I am feeling.
Crypto is a digital form of money, which helps you to earn more profits and sometimes worst losses if you aren't thoughtful.
I usually prefer to swap my smaller assets in the cctip box when I see fewer fees. Like if I have 100 trx and 200 doge coins I would swap them for one either for TRX and for DOGE. I do this because I feel it would save me double the fee, one-time fee withdrawing my assets from the cctip box and second time from my wallet(whichever it is with private keys). As I don't trust exchanges to save my assets there.
The Crypto market is too volatile and from previous months it's too obvious. Even an infant like me is understanding things too.
For instance, if we talk about PUMPING of the market today's hike for dogecoin is best to quote. Most of us sold our assets yesterday and the day before yesterday and repeating today that why we haven't wait for some hours?
Do you feel the same way? Please DO NOT!!.
It's crypto, everything can be expected, what if it went down? You would be the HAPPIEST person to sell at a reasonable price.
Whenever the market goes down my heart bleeds too. Like the previous week, I bought BTC for 35500$ and ETH for 1300$. The Sooner the transaction is complete they started going down and BTC was below 30000$ and ETH was at 1100$ something. Even BCH went below 400$ and I was the one denouncing myself for buying the PUMP.
I was extremely disappointed and doesn't open the exchange or wallet to see what's happening. It's by good luck or bad luck my phone got hanged and restarted with the MXC PRO app(I am using it for trading ) . and to my great surprise, BTC was at 38000$ and ETH crossing 1400$. I again repented as I set the sell order at 37500$ for BTC and somehow another thing for ETH. I was like why wouldn't I set that to 38000$ hahaha. Too dumb? Right? And right before writing this article, I noticed BTC at 35000$ again and I was like thank God I sold it earlier haha.
It happens when we are new and when we are trading for little profits with lesser investments.
Why I am writing this article?
If you are a beginner and reading this PLEASE BE PATIENT. Crypto is the name of HODL. Every coin having potential in it will pump and will dump too. Because we all know supply and demand sort of thing. For today's observation with dogecoin, I read somewhere in a telegram group( I am not sure though) dogecoin was pumped to 0.08$ and a person sold all of his assets and it went back to 0.05$. This is because of more supply right?
This is how crypto works. When people buy more the price goes up and when they sell they pull it down. So mind it that pump and dump are there for sure. You need to understand how you utilize both positions.
The ONLY TIP I learned that buy the DIP and sell the PUMP. Now there are three phases to buy, DO NOT BUY AT ONCE Buy a dump if it went up no worries you can sell, if it went down BUY again, and with more dump buy more. Do not invest all of your money at once but with each step up or down revise your decision. The same strategy can be used for selling. For instance, if I were HODLING 10k dogecoin, I would sell 3k with the first pump to 0.03$ 2k when it touched 0.05$ 3k when it was at 0.08$ I have three profits now right? And having 2k with me. No worries if it dumps to its original price maybe 0.009$ or something. I would HODL remaining until the next pump.
The same way I won't regret like some of my friends are doing who sold three days ago, who sold yesterday, and who sold today earlier Hehehe.
One of them is so courageous to HODL it for next time and saying when it would touch 1$ or at least 0.1$ 😹. Good luck to him ;).
These are some random thoughts and observations. Please don't consider it financial advice. DYOR(do your own research).