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?
The best way to achieve more in crypto is not to depend on crypto alone; it should be like a source that will provide you with some profit that will help you create a passive income investment in order to get money and also support yourself when you have some financial issues with your crypto investment. The reason I said this is because many people tend to invest in crypto currencies and have no other source of income. If they fully depend on their crypto investments, they will end up using everything that they have already invested, and they will be the ones to end up losing.
So as I said, from the first time, those profits that you will get in trading can be used to enhance some funds for you to create another investment that will also bring some money for you, which will not consume much of your time because if you can’t do some research, your trading investment might be affected. That is why it is always said that you should always have a passive income that will not affect your time.