Since the retracement of Bitcoin, the market has become boring. Sometimes, the direction of Bitcoin is unclear. For example, the price action of Bitcoin is actually confusing. I have learned one thing in these recent days: As a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, mining, and other legitimate sources of income. If I say that I will force trade now, it can end up in a loss.
What is your take on this?
Do you mean as a crypto investor, they should have multiple source of income and not just rely on their investment in bitcoin? As a crypto trader, you can always trade the market base on the result of your analysis of the market. You don’t have to wait for the market to be on uptrend or downtrend before you can execute a trade. If you’re an experienced trader, you need to just analyse the market to enter a buy or a sell base on the direction of the market. Only a novice trader will be bothered of this because they won’t really understand the market and might enter a trade wrongly. Multiple source of income is for those that depends on trading for their income and can also do without them when the circumstance does not favour them at that time.