Crypto News
October 24 Hot Topics:
1. The Biden administration's Department of Justice warned Elon Musk that his practice of giving away $1 million daily to registered voters in swing states may be illegal.
2. Tesla announced that it did not sell its $763,120,000 worth of #Bitcoin in the third quarter of 2024.
3. Uniswap's in-app cross-chain bridge is now live, supporting cross-chain transactions between Ethereum and 9 other networks.
4. Russia is attempting to bypass Western sanctions by using Bitcoin for transactions within BRICS countries.
5. Federal Reserve Beige Book: Inflation remains moderate, and economic activity has changed little across almost all regions since early September.
Trading Insights
If you plan to stay in the crypto space for the next three years and aim to treat trading as a second career, you must read these 10 iron rules. They are practical tips for making a living from trading, and it's recommended to save them!
Assume you have 1 million. When your returns reach 100%, your assets will be 2 million. If you then lose 50%, your assets will return to 1 million. Clearly, losing 50% is easier than gaining 100%.
If you have 1 million, after a 10% gain on the first day, your assets will be 1.1 million, but if you then lose 10% the next day, your assets will drop to 990,000. Conversely, if you lose 10% on the first day and gain 10% the next, your assets will still be 990,000. If you have 1 million, earn 40% in the first year, lose 20% in the second, earn 40% in the third, lose 20% in the fourth, earn 40% in the fifth, and lose 20% in the sixth, your assets will remain at 1.405 million, resulting in an annualized return of only 5.83%, which is even lower than the 5-year treasury bond coupon rate.
If you have 1 million and can earn 1% daily before exiting, after 250 days, your assets could reach 12.032 million, and after 500 days, your assets could reach 145 million.
If you have 1 million and achieve a 200% return for 5 consecutive years, your assets will reach 243 million after 5 years, but such high returns are difficult to sustain.
If you have 1 million and hope to reach 10 million in ten years, 100 million in twenty years, and 1 billion in thirty years, you need to achieve an annualized return of 25.89%.
Assume you buy a cryptocurrency at 10 with 10,000, and it drops to 5. If you buy another 10,000, your average cost will drop to 6.67, not the 7.5 you might expect.
If you have 1 million and invest in a cryptocurrency with a 10% profit, when you decide to sell, you can leave 100,000 worth of chips, making your holding cost zero, allowing you to hold long-term without pressure.
If you are extremely optimistic about a cryptocurrency and leave 200,000 worth of chips, you will find your profit rising from 10% to 100%. However, don't get complacent; if the currency drops 50% later, you may still incur losses.
A sharp decline is a litmus test for quality cryptocurrencies. If the market crashes and your cryptocurrency only slightly declines, it indicates that the market maker is supporting it, so you can hold it with confidence, and there will be rewards.
LIFE IS LIKE
A JOURNEY ▲
Below are the real trading signals from the Big White Community this week. Congratulations to those who followed along. If your trades are not going well, you can come and test the waters.
The data is real, and each trade has a screenshot from the time it was sent.
Search for the public account: Big White Talks Crypto
BTC
Analysis
Bitcoin's daily chart showed a pullback yesterday, dropping from around 67,450 to a low of about 65,200, closing around 66,600. The upper resistance is near the MA7 moving average; a breakout could see it reach around 68,000. The lower support is near the MA14; if it breaks, it could drop to the MA30. A pullback can be used to buy. The MACD shows a decrease in bullish momentum and is showing signs of forming a death cross. On the four-hour chart, the upper resistance is near the MA60; a breakout could see it reach the MA30. The lower support is near the MA7 moving average; if it breaks, it could drop to the MA90. A pullback can be used to buy. The MACD shows a decrease in bearish momentum and is showing signs of forming a golden cross.
ETH
Analysis
Ethereum's daily chart showed a pullback yesterday, dropping from a high of around 2,625 to a low of about 2,440, closing around 2,525. The lower support is near the MA60; the upper resistance is near the MA90; a breakout could see it reach the MA7 moving average. The MACD shows a decrease in bullish momentum and is showing signs of forming a death cross. On the four-hour chart, the lower support is near the MA120; if it breaks, it could drop to the MA360 yearly line. The upper resistance is near the MA90; a breakout could see it reach the MA14. The MACD shows a decrease in bearish momentum.
Disclaimer: The above content is personal opinion and for reference only! It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If you have any questions, feel free to consult.
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