Post
Topic
Board Trading Discussion
Re: As a Token Analyst, what type of coins do you trade the most?
by
Fara Chan
on 28/07/2024, 11:28:21 UTC
For me, grouping tokens is much needed when thinking of holding for the long term and simply growing my portfolio. Exchange tokens like $BGB and $MX highlighted in the Coingeck report have showed good potential. With Bitget emerging as the second CEX with the highest increase in trading volume in Q2, it is expected that the platform token $BGB would appreciate over time as the platform consolidates and expands its services. But having a variety of tokens like this in your bag would be a necessary approach to benefiting in any increase in value.
Such tokens usually do not have long-term value resilience when market conditions get worse, because when everyone starts witnessing a bad trend in the market that is presented with a price drop in Bitcoin, all other tokens will also experience a much bigger price correction in the same time. So having more of such tokens still does not guarantee more profits for the holder, especially if the holder does not have a lot of Bitcoin in his bag so it would be useless to have more tokens but not a single Bitcoin.