Before entering into the cryptocurrency universe, we were all confined to fiat and physical materials for trading. Ever since Bitcoin has been flaring for a long time, people are shifting as if it’s the very part that completes them.
Indeed, the Cryptocurrency market in India has grown to the next level, with Bitcoin Price in India today at INR|3,595,812.
Investors, financial management, or even an individual are immersed in buying and selling cryptocurrencies, especially Bitcoins.
The net crypto volume operated in India is around 8 million making a tremendous figure of INR 100 billion.
Buying Cryptocurrency in India has become a fashionable thing despite no laws or regulations.
But it’s not that you start trading huge money on day one. Several strategies and tactics make you out of the league. It’s important to analyze the market since the coins are volatile.
“A plan with timed execution wins the war”.
To win this Crypto war, you need to make sure you’re following these strategies and tips to book profits.
It’s important to know the history and its figures before you buy them. Selection is very important as those will be responsible for your gains or losses.
Knowing the technology behind bitcoin, its blockchain, the volume operated, the prices, dips, acceptance ratio, and much more content makes you a better investor.
Trading Other Cryptocurrencies
Buying Cryptocurrencies in India is turning normal, and people are turning into millionaires and billionaires. But that doesn’t imply you keep investing all your assets into Bitcoins and keeping every other token aside.
Indeed the bitcoins are soaring and pushing the market to new heights.
However, bitcoins are not the only thing you should look forward to. Yes, it makes sense and a sensible decision prioritizing bitcoins.
Make sure you invest in different varieties of cryptocurrency that serve different purposes, like Buying Bitcoins and Litecoin that are currencies.
Ethereum and Ripple work for financial institutions and support the DeFi, which is expanding like a virus.
Not only diversifying your investment keeps you away from huge losses, but it also increases your chances of earning profits from other tokens.
Technically Analysing Bitcoin Charts
No doubt that the market is uncertain. Unlike stocks, the cryptocurrency market works 24×7. There’s no 9 to 5 thing in the cryptocurrency universe.
So analyzing and buying bitcoins accordingly loads up your profit bag.
Technically understanding the theory of how the market works and applying them turns your fortune on a positive note.
Like, stop loss methods, trends appearing, charts, graphs, EMAs, buying and selling, understanding the functions makes you a better trader than blindly investing in a token.
News, News, and News
If you have heard of Elon Musk‘s name and his tweets shifting sentiments of the market, you’re at least better than many others out there.
Recently Elon Musk’s Tesla has declared that people can’t buy machinery with Bitcoins. As soon as this statement was out, Bitcoin fell 17%.
Headlines play an important role in the moving of the market.
Also read What do We Do With All This Money?
If there’s an investment in Bitcoins, make sure you consider buying in the next few days. And if cyberattacks or frauds happen, consider selling bitcoins as soon as possible.
No Sheep Walk
Most of the newbies or people new to the cryptocurrency market invest in bitcoins based on rumours and seeing those surging prices.
A wise person never follows rumours and their thoughts. Instead, they focus on learning and gaining lots of knowledge and updating with time.
It’s better to take time and invest than losing everything and believing in rumours. Follow billionaires, their ideas, and most important their next moves.
There are other plans and strategies that you can follow. However, these 5 strategies are thumb rules to double your fortune.
It’s necessary to keep believing in yourself and your moves rather than regretting your own decisions that you were always chasing a tail.