In the ever-evolving world of cryptocurrencies, the battle is not only about intellect but also about patience. At Unilever.edu.vn, we explore the journey of a young AI engineer named Đức, who delves into the complex yet fascinating realm of cryptocurrency trading, learning through both triumph and turmoil. This article unfolds his story, shedding light on the emotional roller coaster that mirrors the unpredictable nature of the crypto market.
The Awakening of a New Trader
It all began in 2017 when Đức was pursuing his degree in Mathematics, Finance, and Statistics at a university in the United States. An avid reader of financial news outlets like Bloomberg, The Economist, and CNBC, he was drawn to the technological innovations revolutionizing our world. In just three weeks, he witnessed Bitcoin’s meteoric rise from $3K to $20K and felt an irresistible urge to join the crypto bandwagon. This is a common experience for many new traders, who often find themselves caught up in the excitement—a phenomenon known as FOMO.
Armed with a Coinbase account, Đức eagerly bought various altcoins like Cardano (ADA), Ripple (XRP), and IOTA, in hopes of capitalizing on the soaring market. Initially, his portfolio flourished; ADA rose from $0.3 to $1.2, and XRP jumped from $1 to $2. However, the joy was short-lived as the market corrected violently in early 2018. By then, his portfolio had dwindled significantly, and the once-promising altcoins took a nosedive. “I realized too late how many projects were scams or had no real value,” Đức reflected, recognizing the inherent risks in the crypto space.
Learning Technical Analysis (TA)
With his initial investment quickly dwindling, Đức decided to pivot toward trading, taking a deep dive into technical analysis. He followed cryptocurrency influencers on platforms like YouTube, absorbing their insights and predictions. One of the critical lessons he learned was the significance of using technical indicators such as the Exponential Moving Average (EMA), the Relative Strength Index (RSI), and Fibonacci retracements.
Exponential Moving Average (EMA)
“The EMA is a useful tool for determining when to take profits or enter a position,” Đức shared. He noted that if the price strayed too far from the EMA, it was time to sell, while touching the EMA prompted him to buy. However, he cautioned that this method might be less effective for short-term traders seeking quick gains.
Relative Strength Index (RSI)
Next, he learned about the RSI, a momentum oscillator ranging from 0 to 100. “If the RSI exceeds 80, it’s wise to start taking profits,” he advised. Conversely, when the RSI dropped to around 40—30, it represented a good entry point for accumulating assets. Patience became a virtue, as he realized that adjustments could take months.
Fibonacci Retracement Levels
Fibonacci was yet another tool in his analytical arsenal. It allowed him to measure market retracements, providing insight into potential support and resistance levels. With a solid foundation in technical analysis, Đức was better equipped to navigate the volatile waters of cryptocurrency trading.
The Shift to Altcoin Investment
Realizing that trading futures was fraught with risks, Đức shifted gears again. In June and July 2020, he discovered Coin98 and enrolled in their Crypto 101 course led by founder Lê Thanh. This journey deepened his understanding of the crypto ecosystem, notably tokenomics — the economic model underpinning cryptocurrencies.
Understanding when and how a token would hit the market made all the difference in finding the right entry points. “I gained immense respect for Lê Thanh, who focuses on creating value for the community rather than merely chasing profits,” Đức explained. Despite his newfound knowledge, trust didn’t come easily after three years of loss.
As DeFi gained momentum in early 2021, Đức immersed himself in projects like PancakeSwap (CAKE). He highlighted the mechanism of auto farming, where users can compound their returns continuously—something traditional banks cannot offer. His strategic investment in CAKE at $10, with a staggering APY of 250%, showcased the potential rewards of informed investing.
Seeking Hidden Gems
Undeterred, Đức became adept at spotting prospective investments under the radar. One project that caught his eye was Qredo (QRDO). Positioned as a decentralized vault infrastructure with robust security features, it promised immense value. After purchasing IDO QRDO at $0.225 and witnessing a staggering peak of $9.5, Đức’s investment multiplied eightfold, demonstrating the power of thoughtful strategy and due diligence.
While focusing on projects within the gaming and NFT space, Đức invested in Enjin (EFI), which he believed could easily scale from a $200 million market cap to $1 billion if applied broadly. With a market that glorified innovative projects, he seized opportunities when prices plummeted, maximizing potential gains.
Emphasizing Patience and Strategy
By mid-2021, Đức observed a trend in foundational coins. His trust in the FTX exchange led him to invest in FTT at prices ranging from $35 to $40. However, as the market fluctuated, he faced challenges with timely exits. “Gaining a beautiful position in the market is crucial,” Đức remarked. Recognizing that crypto isn’t merely a battle of intellect, he understood it’s a contest of patience—those who can bide their time for prime entry points inevitably reap the rewards.
Conclusion: The Road Ahead
As we reflect on Đức’s journey at Unilever.edu.vn, we recognize the complexities of the crypto landscape. His story is a testament to the importance of education, strategic investing, and most importantly, the virtues of patience and persistence in achieving success in this domain. The cryptocurrency market may be fraught with risks, but with thorough research and a keen awareness of one’s own emotional responses, traders like Đức can navigate the intricate webs of opportunity and challenge.
In this ever-changing arena where technology and finance intertwine, staying informed, adaptive, and patient will determine who prevails in the pursuit of a “beautiful position.” Whether you are a newcomer to this world or a seasoned trader, remember that the journey is as important as the destination, filled with valuable lessons, stories, and experiences that can illuminate the path ahead in the complex universe of cryptocurrency.
