Steemit Crypto Academy Contest / S7W2 - Relive Your Top Moments of the Year 2022 (about your crypto trading experience).
This is piya
From Bangladesh
Cryptocurrencies had a roller coaster year in 2022. Here's a review of the best and worst moments of Crypto trading with my lesson, experience, future plan regarding this. So let's start
What were your best moments in crypto trading in 2022? We want to know about your experience.
2022 has been a pretty good year for Crypto trading. I have managed to make a few good trades and generate some profits. However, I had not any major success yet in this trading and I am looking forward to this success.One of the best Crypto trading moments of 2022 of mine is I brought some coins. More specifically I have brought some Luna coins. In the Crypto world, the highest price of the Luna coin was nearly 120 dollars, and at end of 2022, the price of the Luna coin was 0.0001 dollars. So, I took that golden opportunity and brought some Luna coins. The price of several coins was decreased. I took that opportunity to invest in Crypto World.I have been keeping an eye on the crypto market, and there are a few coins that have the potential to generate some big returns. hope you will strike soon with that coins. That's how I make my biggest Crypto trading of 2022. And this was the best Crypto trading moment of 2022.
I had also a hopeful sign about TRX and Steem.
What were your worst moments in crypto trading in 2022? Tell us about your experiences.
So far, 2022 has been a flammable year for Crypto traders. There have been some major ups and downs, and I am sharing my worst Crypto trading moments of that year below.
• The cryptocurrency market crashes in January, following a brief upward trend in December.
• The price of Bitcoin falls below $15,130 in 2022.
• The market rebounds in March, only to crash again in April.
• The market stabilizes somewhat in May, with prices remaining relatively consistent for the rest of the month.
• The market crashes again in June.
• I was quite confused or you can say frustrated when I found out about the FTX Exchange Bankruptcy. Many people like me were confused after this exchange went bankrupt. This is my bad experience in the crypto market.
• I thought the price of Luna Coin would recover but the price did not recover.
• I thought the crypto market would recover by the end of 2022, but the market did not recover, instead, Bitcoin created a bottom.
What did you learn from these experiences of 2022?
My experiences in the crypto world have been both good and bad. One of the good things is that I was able to trade some coins at a low price. I'm still hopeful about those coins.
However, I was upset because of the FTX issue and the crash of Luna Coin. The lesson learned from crypto trading in 2022 is that decentralized exchanges are better than centralized exchanges. This is the lesson learned since the FTX exchange went bankrupt. Because centralized exchanges have a lot of risks, as they do not provide private keys, traders do not have control over their assets. As FTX is a centralized exchange, when FTX issues or goes bankrupt, traders lose their entire investment and never fully recover it. The lesson learned from this is that decentralized exchanges are better than centralized exchanges because decentralized exchanges offer self-control. So it is quite safe. Although decentralized exchanges provide fewer features than centralized exchanges, decentralized exchanges are more secure.
Another experience I have is always getting updates about the crypto market from social media or crypto news. Traders should be active all the time.
Tell us about your future in crypto trading for this year in 2023.
It is difficult to determine what will happen in the future, but I will make an effort to utilize my experience of last year in 2023. I will also try to focus on the news and update on crypto so that I would always be in touch with crypto and I would invest in good projects. The market has recovered a bit in the new opening and is indicating a bullish sign. Some good news has also started arriving in the market. I am very positive about the market. In my opinion, if some such good news and market sentiment remains positive for a few weeks, then in the upcoming season or the future I may get a good profit from my holding of Steem and TRX coins. This year my primary focus will be to use my past experiences in crypto trading and try to minimize my mistakes to avoid losses. I am quite positive about my future in crypto trading in 2023.
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Very good point. 👍🏼
It’s actually very difficult to predict the future, nobody knows what will be the future of crypto, we all have to just utilise our experience we had over the years.
Buying coins that has potentials to raise is a good way of investment. Most of us lost in the luna crash but you are opportune to buy it when the price has finished dropping. It is possible that the price will raise again and then you can make a larger profits in the nearest future. I wish you success in this contest my friend.
Hello dear,
You are right that the year 2022 has been a frustrating year for the crypto traders. Many of tha traders are happy with it and those are only the ones who are interested in the short trades and margin trades.
The Luna crash and the bankruptcy of the FTX exchange has been a very unfortunate condition in the crypto space so far. We should learn about the high volatility and the high risks that are linked to the crypto market.
Thanks for sharing your post. Good luck for the contest, friend.
Hi @pea07,
When Bitcoin touched $69000, I thought the crypto market would never go down. But everyone rightly says that no one can predict the future of crypto market. I saw a very down trend in the crypto market in 2022. It came down more and more than I could have imagined. But thank God now crypto is going upward.
There is no doubt that the crypto market is also dependent on news. News has a big impact on the market. I agree with you that if there is good news, we will benefit. Thank you so much for sharing with us. I want your success.
Regards,
@malikusman1