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- Patience is the best and most useful skill in trading
- Put your investments in big projects to increase the chances of success
- Study the ICOs carefully before investing in them to avoid fraud
If there is anything that any prospective trader of cryptocurrency needs to know about the cryptosphere, it is patience. Patience is the best and most useful skill. If you expect to enter and find immediate results, you will survive for a long time as an investor; gamblers are cut down – so he says The owner of the Hedge fund Anatoly Radchenko, CEO of United Traders, has been named the best private investor twice in a row.
Radchenko gave Forbes magazine his unique perspective on cryptocurrency trading this week, emphasizing that patience was important as a point of entry and exit in cryptographic space, as patience allows investors to reach goals.
According to Radchenko, the appearance of ICO on the crypto scene in 2016 and 2017 has led to unrealistic expectations in a short space of time. He told Forbes that unlike traditional financial markets where businesses are not closely related, activities in the cryptographic market are, and that's why they all ceased in the cryptic winter, which led to huge losses, including the elimination of some positions, especially for those who intended to make some quick money.
Radchenko, who says it is difficult even for experts to predict what the market will bring tomorrow, notes the decline in market value positively, stating that the decline will only guarantee a few great owners in the end it will remain in the possession of criptos and the decline in value will eventually reduce volatility. He has declared:
"Now, however, most Bitcoins will return to being big owners, which will reduce the circulation of Bitcoin in the market, which should generally stabilize markets a little. many serious players who were suddenly able to afford it ".
Radchenko advises any investor to invest in large projects to increase the chances of getting a return on investment because "money tends to go towards money". He also says that the best practice is to avoid putting all the eggs in one, but to allocate them "equally and in equal parts" to different projects.
The ICO phenomenon (Initial Coin Offering) is a billion dollar juggernaut, through which dozens of cryptocurrency projects are launched. Many legitimate cryptocurrency and ICO projects have offered investors significant investment opportunities, but the ICO fervor also brought scams and fraudulent projects where the scam artists jumped on the train and tricked the investors into believing they were buying the next Bitcoin project at a discounted price. Radchenko urges investors to ensure that they avoid investing in projects that are bound to fail from the start, especially where the organizers have unclear backgrounds.
