The market is currently experiencing a heavy downward trend. With currencies touching supports it hasn't gotten to in a long time.
And most investors are left scratching their heads at to how best to make profits.
Here are a few tips which might be helpful ;
- Firstly, the primary goal in situations like this is not maximising profits, but rather PROTECTING YOUR CAPITAL.
- Avoid panic sales. Do not cut your loses, especially when you are holding a solid currency with good long-term potential. Not all currencies would survive this market, the ones that would, will experience a good uptrend in a more favorable market. (As an investor you'd should only have invested in solid projects with long-term potential, if you find yourself hodling shitcoins, maybe you should refer back, and properly educate yourself on the basics of trading)
- Avoid ICOs. With the current market situation, I would keep my investments to a minimum, and only put my money on projects I deem to have ernormous potential.
I would instead invest a major percentage of my capital on established currencies, preferably those in the top 50 by market capitalization (as published on coinmarketcap.com)
- Be informed. Information is power in any sphere of life, and in crypto it is doubly important. Always be up to date on who is doing what, when, how and why.
Timing is key in making profits, so to avoid missing opportunities, endeavour to get up to the minute updates.
- With the volatility in the market now, as so many factors are influencing the price, you might want to try your hands in day trading or arbitrage trading.
It is a viable way of forcing profits out of thearket regardless the current trend.
Endeavour to acquire the basic knowledge and skills before trying your hands in it.
GOOD LUCK!
Downtrend and uptrend is pretty common and in the other hand natural occurrence in this crypto industry as it is a community driven asset. I only have two things in mind when it comes to trends in crypto which is the most basic thing to do by most newbies which is "buy low sell high". It gives me no headaches other than thinking of something that will cause panic or uncontrollable emotion which will lead to loss.