In the cryptocurrency trading industry, gains and losses are part of the investment process, and losing trends can earn you millions of dollars and vice versa. However, despite the profit potential, it is not an easy game as various factors affect the value of the token. Therefore, developing a risk management strategy and performing proper technical analysis is mandatory to maintain profits in the cryptocurrency market. One such crypto trader gave the best example of turning a $1.8,000 investment into $873,000 within 48 hours.
Crypto trading opportunities go from $180,000 to $873,000
The crypto market is full of profitable opportunities, but immediate profits are rare. The value of assets fluctuates frequently, complicating the cryptocurrency trading process. However, a few people with deep market knowledge and understanding of trading have made big profits, including this crypto trader who invested in Ban tokens and made a 490x return.
Lookonchain drew attention to the incident and revealed transaction records that generated significant profits within 48 hours. According to the post, the trader spent 10.2 SOL (equivalent to $1,795). This led him to buy Ban for $36.27 million, and as the token grew several times over, his investment amounted to $873,000 in just two days.
This guy turned $1,795 into $873,000 in just two days. This is a 490x profit.
Everyone could learn from this trader’s selling strategy. Instead of panicking and selling everything at once, I sold a little bit each time there was a rise so I wouldn’t miss out on the rise.
He initially spent $10.2 $SOL($1,795)… pic.twitter.com/bk9YjKfCmD
— Lookonchain (@lookonchain) October 27, 2024
This is more than impressive as the crypto market has continued to struggle in recent days despite the hype surrounding Uptober. Until now, the market has been bullish, but the situation is not necessarily favorable due to the influence of the macroeconomic situation.
Crypto Trader Makes Big Money With One Simple Trick
The crypto market is difficult, but investment strategies don’t have to be so difficult. This is what this crypto trader showed, he just followed a simple strategy to overcome losses and come out stronger. When trading cryptocurrencies, people often make the common mistake of panic selling, where they trade their holdings out of fear when prices start to plummet. And in order to save some of your investment, you accidentally end up incurring large losses.
But it acted wisely and held on until the price started rising again. Rather than panic selling, he sold his Ban tokens gradually. This is because, after a significant rally, they sold only a portion to take advantage of the possible rise.
Lookonchain’s post further revealed that he originally sold his $12 million van for $56,900 when the price rose. Even when the price plummeted by 90%, he didn’t bat an eye and waited for the next rise. More importantly, he only sold $6.13M $Ban for $80.7K and is holding another 18.13M $Ban ($734K) while waiting for another rally.
What is the lesson here?
The value of the crypto trading industry currently stands at $2.27 trillion, and it has soared even higher during strong market times. It underpins how the value of a token can rise or fall due to various external factors, turning an investor’s rags into riches and vice versa. However, timing is everything here. Entering or exiting a trade at the wrong time can result in significant losses, and many people, including one investor who lost $454,000 by panic selling within 40 minutes of making a purchase. is making this mistake. This is a classic example of how panic selling is more costly than enduring tough conditions and selling when profitable conditions return, like this crypto trader did.
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pooja kaldia
With a deep-rooted passion for reading and 5 years of experience in content writing, Pooja is currently focused on creating trending content regarding the cryptocurrency market. As an avid cryptocurrency journalist, Pooja is always on the lookout for trending topics and useful statistics to create engaging articles for cryptocurrency enthusiasts. Staying on top of the latest trends and advances in the field is an integral part of her daily life, reinforcing her commitment to providing timely and insightful coverage.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
