A DIFFERENT APPROACH TO HOLDING YOUR INVESTMENT IN CRYPTO.

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Investing in Cryptocurrency is very good but I think people should apply sense doing this. I want to talk to crypto enthusiasts who understands the market better but I think generally, even novices can benefit from this post.

Most investors in cryptocurrency who have a knowledge of the crypto market of the cryptos they invest usually do technical analysis to forecast the price of the asset before they invest. Once they see that in a couple of weeks or months, the price of am asset is going to double, triple or make a huge movement, they buy the asset and hold. In doing this, many of this people disappear from the market and fail to see the ups and downs of the asset. They wait until the price of the asset gets to their forecasted price before they sell.
If they had stayed in the market and watched the situation, they would have seen many opportunities to exit and enter the market again.

To be more practical, let's take for instance, an investor saw in December, 2022 that in the month of April, 2023, the price of BTC was going to hit $31K. He buys at $18K and kept in a wallet or an Exchange and waited until April when the Price hit $31K and sold. He makes the desired profit. But I tell you, he could have made so much more if he observed the market after his first entry. I believe there were so many up and down movement of BTC before it hit the forecasted price. So after he bought BTC, after a while, the price rose to $20K, $21K or above and came down again. Coming down to hit a support at about the same $18K, it went up again and hit a resistance at $24K after some weeks and then went down. It can do this severally before moving up to $31K. There were several opportunities provided to boost the profit realizable than from just $31K target.

To explain this further, let's take this example.
In May 1st Alex and George decided to invest in BNB after analyzing technically that the price was going to be $400 by June 10, 2023.
At the time they made the analysis, the price of BNB was $250. They both had $500 each to invest. So they both bought at the price $250. Each had 2BNB after purchase.

George decided to stay active in the market to monitor his asset while Alex left the market since he was sure the forecasted price was going to be actualized.

Five days after there purchase, BNB rose to $280 after ranging for days. After analyzing that the coin was going to drop, he sold at $278 and waited. Now he has $556. BNB dropped to $262 before heating a support, George observed and analyzed that it was going in an uptrend from there, so he bought at $265. Now he has approximately 2.098BNB.

In the 20th day of their investment, the price of BNB hit $300 again and hits a resistance. It ranged there for about 24hours, George analyzed that it was going to be a heavy downtrend, he sold when the coin dropped to $295. George already has approximately $618.94. He watched the coin as it kept dropping until it got to $252. Another support was hit he waited as the market ranged between $252 and $258. When he saw that it wasn't going to fall further, he bought at $254 which gave him 2.437BNB approximately. He then set their forecasted price and kept observing the asset.
By this time, it was only seven days to their forecasted date. The next bullish market for BNB lasted for nine days. BNB hit their forecasted price and went beyond it. It got to $415 before ranging.

While George actively waited, Alex passively did. At the end of the day, George had approximately $974.71 while Alex had $800. From the above, we see that George made a profit of $474.71 while Alex only made $300.

The approach George used was a better one because it fetched him more profit than he would have made.

As far as one can analyze and correctly forecast the future price of an asset, one can use this technique to realize a better profit.

I know we all want to make huge profits in our investments in crypto. I am using this post to encourage you not to sleep on your investments. Try to monitor the market and take swift and appropriate decisions that can help you make a high profit margin.

Thank you!!!