It is nothing but an awesome feeling when we get to see some spikes in prices for the altcoins. The feeling gets even better when the coin spikes and you are the one holding it. I am doing some trades recently and so far the experience have been minimal. I have made some loss and likewise I was able to take some profits as well. So far I have done couple of trades and I am profit.
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The recent pump that took place in crypto is probably not going to last long. As there are so many things which needs to be taken care of. Some of the aspects do not really add up to the current scenario. As compared to the past most of the huge pumps relied on some sort of news and those news have created FOMO and people started to busting their money into their favorite coins thus the coins pumped to their ATH. But at current scenario there is sort of nothing legit happening around the crypto universe.
Regardless of the situation
Pump and dumps are really an efficient way to make some quick money during the trend. But to keep in focus and taking some profit out, one needs to at the right end.
To start with, I have been having a keen eye on BNB lately. One of the reason is Binance backing it up and volume of this token is quite a lot. And upon configuring the trend and some TA, there are very thin line of opportunities to make some money out of it. I have been buying at a lower low and trying to sell it at its peak for that particular day. So far it has been working. I am not saying, I have made significant amount of money but getting back after a long break and taking things at full pace would sort of be unwise at this current market. So, going at turtle's speed and let me see how far can I go.
Unsteady market
This is no new news that during bull market, one can just sit and relax and take a position at any wise crypto and at some point there will be a chance to make a decent profit from those trades. But at the current market this is not going to happen. At least that is what I am thinking at the moment lol. So better be prepared and invest that much which you can loose.
During the trades that I am performing, I am slowly separating some of the crypo that I am tarding. By which, I am pretty sure after probably few weeks I would be able to hold some decent amount of crypto. So that is the part of the plan as well. So far it is going as planned but lets see how it actually goes.
But we have been in bear for so long! This uptrend is going to bring back a lot of new players into the game. May that it be an accumulation period but it is going to be much more fun when we are going to see the next bull run. Better be prepared for those sort of scenarios and build the portfolio for now.
Best regards
Rehan
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