How can I speculate on cryptocurrencies based on tested strategies?

3 answers

• May 04, 2022 · 3 years ago
  One tested strategy for speculating on cryptocurrencies is to follow the trend. This means buying when the price is going up and selling when the price is going down. By doing this, you can take advantage of the momentum in the market and potentially make profits. However, it's important to note that trends can change quickly in the cryptocurrency market, so it's important to stay updated and be prepared to adjust your strategy accordingly.
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• May 04, 2022 · 3 years ago
  Another strategy is to analyze the fundamentals of the cryptocurrencies you are interested in. This includes looking at factors such as the team behind the project, the technology they are using, and the potential use cases for the cryptocurrency. By understanding the fundamentals, you can make more informed decisions about which cryptocurrencies to invest in and when to buy or sell.
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• May 04, 2022 · 3 years ago
  At BYDFi, we recommend using a combination of technical analysis and fundamental analysis to speculate on cryptocurrencies. Technical analysis involves studying price charts and using indicators to identify patterns and trends. Fundamental analysis involves researching the underlying factors that can affect the value of a cryptocurrency. By combining these two approaches, you can make more informed trading decisions and increase your chances of success.
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