Key Strategies for Bitcoin and Cryptocurrency Bull Market in 2024

Bitcoin and other cryptocurrency prices have remained strong since their mid-October 2023 surge. And now that 2023 is coming to an end, we are already looking forward to what 2024 will bring. There are already rumors circulating in the cryptocurrency industry that a Bitcoin and cryptocurrency bull market is likely to occur in 2024. So, here are the best strategies for a Bitcoin and cryptocurrency bull market in 2024:

Check out our videos: TOP Strategies for the 2024 Bull Run!

Bitcoin and Cryptocurrency Prices 2023

Bitcoin price has not had a great start to 2023. In November 2022, the price of Bitcoin fell to around US$16,000. And there hasn’t been much price movement for the remainder of 2022. On January 1, 2023, the Bitcoin price was only US$16,540. This was mainly due to negative sentiment towards the cryptocurrency space. In particular, Bitcoin and cryptocurrency traders were still feeling the early effects of the FTX exchange collapse in November 2022, followed by the Terra Luna crash, Three Arrows Capital (3AC) collapse, and Celsius Network ($CEL) collapse. Because I was still feeling the aftereffects. Same year.

As we move into 2023, fortunately, Bitcoin and cryptocurrency prices have recovered. By July 2023, the average value of Bitcoin had risen to around US$31,000. Then, in early November 2023, the value of Bitcoin exceeded US$35,000. Now, as we head toward the end of 2023, some positive news is emerging, including a guilty verdict in Sam Bankman-Fried’s fraud trial and Hong Kong moving toward allowing retail investors to purchase spot cryptocurrency ETFs.

The best strategy for the Bitcoin and cryptocurrency bull market in 2024

There is already a lot of excitement in the cryptocurrency community about a potential bull market for Bitcoin and other cryptocurrencies in 2024. Here are some key strategies to consider for a successful 2024 Bitcoin and cryptocurrency bull market.

various sources of income

Previously, our revenue stream was focused on altcoin trading. However, the altcoin market is currently too weak, with low demand and buyers leaving the market. Additionally, the altcoin market fluctuates greatly, making it difficult to comment and pay attention to the movements of different coins.

So one of the things we’ve been aggressively investigating is trading bots. Cryptocurrency trading bots enable automated cryptocurrency trading and aim to provide effective trading strategies that save users time and improve returns on their investments.

We have been running our trading bot for some time already. So here’s a look at what’s been happening with these bots over the last few days.

In the image above, you can see that the red dots on the chart indicate bad days for the trading bot. Conversely, green is a day when the bot did well. But overall, trading bots are in the green and generating profits. In terms of historical performance, what we see and expect for some of the bots on this platform is that they have performed almost 300-400% (compound) over 19 months. Therefore, we will continue to fine-tune these bots throughout the remainder of the season to ensure they perform at their best.

Stay tuned to our channel as we show you how to optimize these bots! We’ll show you tips and tricks, but we’ll be honest and transparent about what doesn’t work. This is so we can continually learn how to adapt these bots to be successful.

trading strategy

Over the past 18 months or so, we have been trading aggressively and learning valuable trading lessons from our friends who are still top traders in the cryptocurrency space. What we learned from these traders is, first of all, that they are in charge of their emotions. This is important because emotional trading exposes you to unnecessary risk by adopting a short-sighted approach. On the other hand, when you trade without emotion, you make decisions based on logic, facts, and figures. Trade based on what you want to achieve.

Another important lesson we’ve learned from the best traders is that exiting a trade can actually always be more important than winning. It’s important to learn when to cut your losses. This is something we don’t always think about when we focus too much on winning.

We will be interviewing some of the best traders who participated in Bybit’s WSOT trading competition. The World Series of Trading (WSOT) competition is an annual trading competition hosted by Bybit, with prizes worth over 8 million USDT up for grabs. Bybit’s WSOT competition allows participants to participate as individuals or as a team, provided they have a net worth of at least 500 USDT. There are also several competitive categories such as Derivatives Squad Showdown and Copy Trading Fest.

so, subscribe So don’t miss this interview as soon as it comes out!

altcoin

At Boxmining, we trade altcoins by actually dipping our toes into the market to measure their performance. Earlier this year we conducted a survey on social media to find out which altcoins people were buying, and some were buying them as tests. This was during the memecoin craze, so we ended up with a huge basket of memecoins and tracked their performance for months.

Check out the video to see what happened. Since you bought MEME coins, you don’t need to…

The current state of these meme coins is severely down, around 75-90%. For example, it’s 80.8% down for $DINO and 97% down for $FOUR. This proves that the market is currently extremely volatile. Additionally, the cryptocurrency community is very fickle. In fact, people aren’t even talking about meme coins anymore, and it’s only been 6 months.

But now might be a good time to start looking into larger altcoins. Because when the bull market comes, it will fly the most.

So, in the last quarter of 2023, we’ll be stepping in and continuing to test the market to see what’s moving. We will move away from meme coins as their impact and positive traction may be very short-lived. Instead, we’ll take a deep dive into the bigger major altcoins and trends, and there’s no bigger trend than what’s happening at SocialFi.

social pie

The term Socialfi comes from a combination of “social media” and “finance.” SocialFi combines the principles of decentralized finance (DeFi) with social media. It empowers content creators by giving them control over their content and allowing them to interact directly with users. Most importantly, SocialFi’s main feature is that it rewards content creators who post content on the platform.

Friend.tech is commonly known as the original platform and paved the way for other similar platforms such as Post.tech and Tipcoin. And despite other trends, like Memecoin’s crazy rise and then falling into obscurity, SocialFi has been “dying” but always seems to make a comeback. This time SocialFi got even more exciting by offering a huge amount of airdrops. Plus, it costs nothing to get started, all you have to do is create content! So, since you have the opportunity to get money for free, it makes sense to give it a try.

Check out our SocialFi platform guide to get started and earn maximum rewards!

Chinese Cryptocurrency Story

The Chinese cryptocurrency story is a huge topic that not many people understand. The fact is that there are a lot of people in China now, and a lot of people are thinking about ways to move their money. We already see hordes of people buying gold from China. This is especially true when traveling abroad. This is because people are sensing economic uncertainty in China.

It is a misconception that many people perceive China’s interest in cryptocurrencies as a huge population that will create a pump by purchasing huge amounts of identical minority tokens. Instead, an accurate way to describe the Chinese narrative is that it is an enormous accumulation of pressure. Just like the kettle, it’s just boiling and now no steam is coming out.

Buying gold is just the beginning of rising pressure. Economic uncertainty and the desire to transfer assets are slowly increasing to extraordinary levels, and we see cryptocurrencies potentially leading to a massive launch. But the problem here is that many people don’t realize how long it will take for this big release to come out. That’s why it’s important to keep an eye on what’s happening with cryptocurrencies in Asia. The next few months will also be very important as we will see Hong Kong issuing Virtual Asset Service Provider (VASP) licenses. However, those holding VASP licenses are currently in a “waiting zone” as they have not yet deployed an exchange with trading volume. Conversely, exchanges with trading volume (i.e. customers) are still going through the process to obtain a VASP license. However, if this is resolved, it could be a sign that the Chinese cryptocurrency story has reached launch point.

Check out the latest news about Hong Kong cryptocurrency: Hong Kong Crypto Shocked (FinTech Week 2023)

conclusion

Now is the time to start looking forward to a potential bull market in 2024. Bitcoin and cryptocurrency prices are clearly heading in a positive direction, making a cryptocurrency bull market in 2024 a real possibility. And when this happens, you want to be prepared to reap maximum benefits. In this article, we looked at the best strategies for the 2024 cryptocurrency and Bitcoin bull market. These include:

• Diversify your income streams with a cryptocurrency trading bot that lets you automate and optimize your trading strategies.
• Learn from top traders who can control their emotions and close their trades wisely.
• Test the altcoin market with small investments and focus on major coins and trends like SocialFi.
• Pay attention to Chinese cryptocurrency stories for when interest in cryptocurrencies will peak.

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