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How to Know When to Buy Cryptocurrency?

The market of digital assets is evolving, meeting more and more new promising projects and gradually expanding blockchain technologies to the real sector. Indeed, by implementing blockchain, companies can facilitate many processes such as logistics, funds transfers, quality control, and so on.

Crypto is a good option for investment and trading. Since cryptocurrency prices are unstable and show frequent fluctuations, it opens the space for money-making. How does it happen, and what is the best time for buying and selling digital assets? Let’s talk about it today.

The Essence of Trading

Cryptocurrency live prices change daily. Those slight price fluctuations allow traders to receive portions of profit from buying and selling digital assets. Sharp market fluctuations change the trend:

  1. Bull market – the positive direction of the market indicating upward movement of an asset price.
  2. Bear market – downtrend, when the market drops and investors get or of their assets.

Simply, trading crypto is buying and reselling coins at a higher price. To succeed in trading, one should understand how the market works and be able to predict further price movement. For that purpose, investors investigate the global situation and find things that may affect crypto rates, conduct technical analysis of assets, and learn the news and media background, which also plays a significant role in changing market trends.

When to Buy Crypto?

The fact is that no one can predict the future of the market. One thing is clear – this market will expand and grow in the long term. So it is definitely worth buying crypto today when the market has dropped, and crypto prices have reduced. One of the most common trading strategies is “buy and hold”, which does not require everyday trades and quick reaction to a slight market fluctuation. “Buy and hold” suits inexperienced investors who are not ready for daily active work and would rather buy assets and wait for the subsequent huge market growth.

One of the main rules for the crypto market is “buy when everyone is selling, and sell when everyone is buying”. The main thing is to avoid buying crypto when the market rapidly grows and all around are buying crypto. Simply put, when your hairdresser starts to talk about crypto and buys it, it’s time to sell. To buy digital assets at cryptocurrency prices live, go to the WhiteBIT crypto exchange.

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