How to get ahead of the market? Or close to it.
As another typical crypto guy, I look for learning materials from Youtubers, articles, social groups and its specific whitepaper. But up till recently, I had a feeling that most people are into crypto as it is right now the fastest lane to richness. Whatever your goal is, crypto does seem to be able to provide it. And all in all, I have to say it is a good thing. Being a skeptic in crypto space imho, is one of the idiotic thing one can do as one could miss a lot of doors to opportunities. Some of the good ones lies in airdrops, or claimdrops as of recent trend.
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But being the fastest lane to richness or financial freedom to sugarcoat the deed, it comes with certain risks. While some of the risk is in our own nature, others come from external factors such as government, destruction of mother nature, pandemic and more. If being interested in macro-economy teaches me anything, I'd say more than million things can affect how crypto market could perform.
Reference: https://pixabay.com/photos/ethereum-bitcoin-ripple-3818348/
However, there are few key indicators that I would like to list for all as reference in future for any investment. Of course, this is by far come from my own observation for the past few years. Take note that I do not list some typical indicators that people often look into. For example, bullish news - this is inaccurate to be used as indicator as the news does not usually will pump any crypto price. This is mostly due to the nature of people - people lazy to read. The last thing they want to do is to scroll over news and it usually reach people the slowest. Say what you will, it is what is. Irony, I know. I thought every news is on the tip of our fingers. lol. Also, new updates does not guarantee pumps. Example - Alonzo update for Cardano. If anything, the news leading up to the updates usually pumps the token. Make or break, depends on the feedbacks of the project's updates.
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1. Social media prowess
More follower, more user, more buyer, more seller, active trading outlook. Enough said.
2. BTC movement - Seriously.
How can one miss this. The most apparent clue to where crypto market is heading. If BTC dip, you can bet that every crypto in existence will dip. But bear in mind, there are some delays before it hits alts to this. It is called reaction delay time. But more often, when BTC spikes and dips, alts will start to surge. This is due to the flow of the money from BTC to alts. Alt - season, to be specific.
3. Listing events
Almost as similar to number 1 but not quite. Platforms such as Kucoin and Huobi usually does a little marketing to incentives their user to "trade" new tokens that being listed.
4. Volume traded
If you have been following your favorite coins, the volume traded increases together with the price. This comes as no surprise though, but you could actually detect an upward trend if the coin's volume traded today is much higher than its previous weeks or months. My take - check what's going on in their social media first before you decide to jump in.
Reference: https://pixabay.com/photos/handshake-cooperation-partnership-3298455/
5. Partnership with other chains or companies
I find this one to be very interesting. A merger between companies as they said. But a merge in crypto space means the merger of its user base. This happens to Terra and Near. But sadly, it did not came to fruition. Well, you know, because of the coward developers who decide to save their own arse. Polkadot is another interesting coin that will go through this events. As of recent trend, Cosmos seems to be partnering a lot with developers, and creating lucrative claimdrop events.
Well, as for the downright movement to the pits of hell, I have no clue. As I've said, it takes one new pandemic arising to make the whole market shake. And it could happen at any moment. Defi is getting the attention of FUDs as well and is looking like in trouble with the hackers news. And as always, the regulations are confusing as hell. However, it is much easier to make money by riding on the waves of new investor. Yep, degenerate hunting. Buy in, and buy in big, and sell when pump. Rinse and repeat. I feel bad for recommending this, because it is very risky. VERY RISKY. Stay away if you do not know what you are doing.
Reference: https://pixabay.com/photos/game-pocker-pleasure-happiness-3116758/
Degen farming is also good, go for 6 digit APR% farms. Go in big, get out before everyone realized that the APR% is shrinking. lol. However, although these strategies come with very big risk, the potential outcome is also huge.
DISCLAIMER
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I assume that the readers understand what the risks are. But the biggest drawback is that your knowledge in crypto in regards of the technology will be a hindrance in doing said strategy as you become more self aware and become slow to react. Also, I find it is such a waste that one would waste their time to do APR% hunting instead of trying to learn the technical and know how in crypto. I find the later to be much more valuable and a better use of the limited life time we have. Then again, what you do in crypto is up to you.
Take what I said with a grain of salt and always do your own extensive research. Some become blockchain gamer, some into yield farming, some become despised hacker, while some become project developers. Crypto is relatively new and most of the resources are free provided you are prepared to shed ridiculous amount of time on your end. There are so much to discover and to be earn. In 10 years time, we will be looking back and say "Which dip?". lol. Writing for future references.
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