The price of cryptocurrency is currently in a bullish trend, the price of Bitcoin has reached above $64k, and will soon print a new ATH above $64.86K, so the attraction of Bitcoin will invite new investors. Unfortunately, these new investors generally do not have knowledge of the right investment strategy. or so optimistic that they underestimate strategy. Because crypto volatility is very high, it is very important to know the risks, goals (short or long term) and know your own skills. Next we can choose 2 strategies to make profit on crypto that suit ourselves, namely trading and becoming a Hodler (passive income). Crypto trading will be more suitable for those who have analytical skills and have a risk profile that tends to be moderate and aggressive. Meanwhile, earning passive income is suitable for those who have a conservative risk profile.
Trading
Before starting trading, you need to consider the following:
1. What types of crypto and pairs will you trade?
2. What trading indicators and tools will you use?
3. What will trigger you to enter and exit the market?
In addition, you also need to know that there is no standard or precise formula in crypto trading. Choose a trading style that suits you such as: Day Trading, Swing Trading, Trend Trading and Scalping Trading.
Passive Income Strategy
Passive income strategies or long term investors, will be very suitable for those who do not have much time or for those who have a conservative risk profile.
Trading
Before starting trading, you need to consider the following:
1. What types of crypto and pairs will you trade?
2. What trading indicators and tools will you use?
3. What will trigger you to enter and exit the market?
In addition, you also need to know that there is no standard or precise formula in crypto trading. Choose a trading style that suits you such as: Day Trading, Swing Trading, Trend Trading and Scalping Trading.
Passive Income Strategy
Passive income strategies or long term investors, will be very suitable for those who do not have much time or for those who have a conservative risk profile.