What are some quick and dirty strategies for trading cryptocurrencies?

3 answers

• Dec 25, 2021 · 3 years ago
  Sure! One quick and dirty strategy for trading cryptocurrencies is to follow the trend. Look for coins that are experiencing a significant uptrend and buy when the price is low. Sell when the price reaches a peak. This strategy is based on the idea that trends tend to continue for a certain period of time before reversing. However, it's important to note that this strategy may not always work, as the cryptocurrency market can be unpredictable.
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• Dec 25, 2021 · 3 years ago
  Here's a dirty little secret: some traders use pump and dump schemes to make quick profits. They buy a low-value coin, hype it up on social media to attract other investors, and then sell when the price has skyrocketed. While this strategy can be lucrative, it's also highly unethical and illegal in many jurisdictions. I strongly advise against participating in pump and dump schemes.
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• Dec 25, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using a combination of technical analysis and fundamental analysis to make informed trading decisions. Technical analysis involves studying price charts and patterns to predict future price movements, while fundamental analysis involves evaluating the underlying factors that can impact a coin's value. By combining these two approaches, traders can increase their chances of making profitable trades.
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