Cryptos are notorious for price volatility. For example, if we look at the market today, we can see that the price of Bitcoin is still close to the highest level in history. Currently, the price of Bitcoin in the market is still around 68 thousand 300 dollars. A few days ago, the price of this Bitcoin reached close to $70,000, breaking all previous records and creating a new all-time high. While the price of Bitcoin has increased, other coins have not increased as much as Bitcoin. However, we see that when the price of Bitcoin increases, the price of altcoins increases slightly, but when the price of Bitcoin decreases, the price of altcoins decreases by a large amount. So when an investor invests in a coin in this way, it is seen that many times they face a lot of losses due to buying at high prices. So we must adopt strategies to survive and profit in these markets. Let's discuss some techniques:

source

Coin Selection:

Coin selection is very important. Because when we look at different exchanges we see that there are many coin markets. Even if we look at different exchanges, we can see that there are many types of coins, within a few days of entering any market, the price of the coins drops by thousands of times. So the most important thing here is to choose a good quality coin and know the details about that coin. Read the white paper of that coin well and know well how long it can last in the market. Then plan to invest in those coins.

Balanced distribution of investment amount:

Once you have selected a good quality coin, the next step is to determine how much you will invest in the coin. And how to invest it must be planned in advance. And that should be well scrutinized.‌

Coin Candle Reviews:

Reviewing a coin's candlestick is very important because it gives you a good idea of how much the coin can go down when it goes down and how much it will go up when the price goes up. So when you review a coin's candle well you will definitely get a good idea about the coin. Then you will get an idea of where to buy the coin and where to sell it for profit.

Dollar Cost Average (DCA):

Dollar Cost Averaging is very important if you take entry of any position in any coin. Then it will help you to avoid huge losses and profit. If you do a dollar cost averaging of a coin three times, and buy coins three times at three different prices, your purchase price average will definitely be much lower. Then surely you can benefit.

Greed:

If you want to survive in the digital currency market for a long time then you must protect yourself from any kind of greed. Because where is the sin of greed and death by sin. Because the digital currency market is like gambling. Loads don't work here but strategy has to be adopted. One should not even invest by being lured by someone's words or news. Of course you should invest with your own judgment and your own intelligence. You may lose your hard earned money.

Adequate knowledge:

To survive in these markets, you must know them well. If you want to make yourself efficient and tactful then you must study a lot. A coin should be carefully scrutinized. Then it will be possible to survive in the market.

Conclusion:

Finally, trading in the crypto market is as profitable as it is risky. Here greed, lust, emotions do not work. Here you must trade with reality in mind. The most important thing is to make yourself more efficient. If you look at the market you will see that many people are involved in it but not everyone is making profit and most of them are exiting the market with losses. So stay here with patience and strategy.