It's really important you take profits along the way & de risk yourself. Otherwise you could get wrecked. Here is a brilliant thread from @LadyofCrypto1
Starting out in #crypto is hard.
But here is a list of useful tools i use š§µš
Pls comment/let me know what u think
1/ As i said before focusing on Tokeconmics is more important than price action. Especially important is comparing Market Caps. @MarketCapOf is simple and great tool that can help with that.
Heres my take on #bitcoin right now.
I was feeling a bit bearish early today, but this calmed me down (a bit).
Hope it helps - a smaller š§µ
1/ As everyone knows the recent flash crash was down to the market being over leveraged, with many longs getting liquidated.
2/ The good news is that that there are less bitcoin on exchanges than ever before. Typically when this happens price goes up, with less volume, as supply is so low
My biggest gains this year weren't #Bitcoin or #Ethereum They where via great projects like $SOL $GALA $MATIC & getting in before everyone else.
It's hard when you start out in crypto.
But heres a thread to help you find the next hidden gem.
This time on"Research".
1/ The inconvenient truth is if you want massive gains, you need to get ahead of everyone else. You need to find projects before everyone else & esp before influencers pump them.
2/ One great place to start looking for up & coming projects is the CoinMarketcap calendar. See the link below. coinmarketcap.com/ico-calendar/
I've been lucky to get in on projects very early & made huge profits on $SOL, $GALA & $MATIC
I know it's hard when you start out in crypto.
But heres a simple MEGA THREAD , to get you started & hopefully find that next hidden gem. š§µ
Pls RT if you find it useful.
1/ DO NOT focus on current price alone. Just because something is pennies like $SHIBA, $XRP or $SAFEMOON, does not mean its a bargain or good value.
2/ YOU SHOULD focus on "Tokeconomics". This includes:
-Total circulating supply
-Total market cap AND fully diluted market cap
-Who owns the tokens
-How inflationary/deflationary is it