Crypto Blockchain Industries: What to Know
Despite advancements in the cryptocurrency industry, crypto trading is largely governed by fear of missing out (FOMO).
Investors tune in to the latest news and hype and attempt to maximise profits in as short a period as possible. I believe in investing keeping a long-term vision.
Here are some popular tips on steps you can make part of your investment strategy, and maybe reduce your fear of missing out.
1. Follow eminent personalities and important crypto accounts on Twitter
If you are not on Twitter in this day and age, you are missing out. Before reading further, open the Twitter app, search for Elon Musk, follow him and turn on notifications! Whenever he posts in favour of Dogecoin, Shiba Inu, Bitcoin or Ethereum, expect crypto prices to rise.
Follow influential crypto personalities, accounts that track whale behaviour, the official accounts of crypto projects you favour, trustworthy crypto news accounts and relevant hashtags and topics. In fact, you should create a Twitter List to keep track of these accounts.
2. Look out for new listings on exchanges
As soon as a new crypto token hits an exchange, more often than not its price skyrockets immediately, albeit for a short duration. Jump on the bandwagon but be careful, you could incur a heavy loss if you do not invest wisely and quickly – you should know when to move in and out!
3. Learn to read between the lines
News that is not related to the crypto industry could have an indirect impact on the demand for a crypto asset. For example, Facebook’s rebranding to Meta saw the prices of Metaverse-related tokens like Decentraland (MANA) and Ethverse (ETHV) jump considerably.
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Author: Surajdeep Singh
Surajdeep Singh is the marketing director at NFT Contemporary and has been working as an IT and blockchain journalist since 2018. He is a contributor to publications including IT Business Edge, Enterprise Networking Planet, eSecurity Planet & Moni Talks and works as a consultant at Drofa Communications Agency.