As fun as it might be, I would stay well clear of Doge. There's lot of pumping and dumping going on. Check reddit communities like SatoshiStreetBets and AltStreetBets. If the coin is popular on there, stay away. Just my opinionI jumped on the Dogecoin hype and lost out £100, will wait till it gets back up and invest it back on Bitcoin.
Bitcoin is clearly the US dollar of the market now and all the headlines seem to be on Bitcoin than other cryptocurrency.
Lesson learnt, I will avoid it going forward. I just fell for the hype as even Elon musk was encouraging folks to invest which turned out to be a ploy for him to invest into Bitcoin as the value dropped during the Dogecoin/Gamestop hype.As fun as it might be, I would stay well clear of Doge. There's lot of pumping and dumping going on. Check reddit communities like SatoshiStreetBets and AltStreetBets. If the coin is popular on there, stay away. Just my opinion
Lesson learnt, I will avoid it going forward. I just fell for the hype as even Elon musk was encouraging folks to invest which turned out to be a ploy for him to invest into Bitcoin as the value dropped during the Dogecoin/Gamestop hype.
There is so much manipulation it's crazy.. trust no-one! Haha. The best thing to do is pick a coin that interests you and follow it's development etc. and then hopefully it will go up a bit in the mean time. This way you're enjoying being part of the action and learning as well, and then maybe taking some profit in a few months.Lesson learnt, I will avoid it going forward. I just fell for the hype as even Elon musk was encouraging folks to invest which turned out to be a ploy for him to invest into Bitcoin as the value dropped during the Dogecoin/Gamestop hype.
Completely agree on all of this.There is so much manipulation it's crazy.. trust no-one! Haha. The best thing to do is pick a coin that interests you and follow it's development etc. and then hopefully it will go up a bit in the mean time. This way you're enjoying being part of the action and learning as well, and then maybe taking some profit in a few months.
I think it's possible to make a lot of money right now on coins like doge as well as low caps coins that pump massively, but in order to time it right you need to invest every minute of the day into it. You need to be constantly monitoring message boards, telegram groups, news and social feeds etc. A lot of people making big sums at this aren't trading geniuses, they just have time and patience as well as a bit of basic discipline.
Just to add that if anyone's entering crypto to do day trading (rather than hold long term), they should use buy and sell limits.
Short term. I think day traders convert to a stablecoin like tether before they go to sleep, then start again in the morning.How do people handle the 24/7 nature of the market? Knowing that you can be tucked up in bed while your investment is heading far south? I guess some decently far-away stop-loss can prevent this.
With more traditional markets they operate with specific hours which let you 'clock in and clock out'.
"Time in the market beats timing the market," and all that. As above, assume it's all lost money - never gamble what you can't afford to lose.How do people handle the 24/7 nature of the market? Knowing that you can be tucked up in bed while your investment is heading far south? I guess some decently far-away stop-loss can prevent this.
With more traditional markets they operate with specific hours which let you 'clock in and clock out'.
Nothing feels like 2017 for Bitcoin. Completely different climate and major players getting involved. I wouldn’t rule out 64k by the end of the week and month.