how to successfully trade cryptocurrency

the fact about trading is that you are not going to perfectly time your buys and sells. What are the chances you’re going to purchase at the exact bottom and sell at the exact top, coupled with putting enough capital into the trade to make a dent in your wealth.In trading, there is only one set path to take. Every person has different goals in investing and trading, and cryptocurrency trading is similar in that regard.We know firsthand what it’s like to kick yourself over trades that haven’t worked or worked spectacularly yet not have the desired position size. All you can do is live in the now, the past is over.
*Understand the Power of Cryptocurrency
We liken our approach to stock investing. Bitcoin and cryptocurrencies are commodities; they are not stocks. They have prices, but they are fundamentally different. The exchange may be the only similarity between the two. We know that the underlying technology powering Bitcoin has potential to be adopted for institutional and retail capital alike. Cryptocurrency’s decentralized nature means that it cannot be shut down or manipulated easily. Many people ask why own Bitcoin, it’s that simple. We believe in the future and so should you. So we’re going long with Bitcoin anticipating capital will continue to flow as it’s potential is realized.
*Determining a Strategy
How often will you buy or sell? Some people want to be day traders, but we’ve shown that holding could be the best bet. The general rule of thumb is that the longer of a time horizon you plan on holding for the less risk you incur. This rule carries over into the realm of cryptocurrency from stock investing. However, here may be times to simply cut and run. Declines due to unforeseen structural issues are an indicator to cut losses and sell out.