It has been over a decade since I was first introduced to crypto currencies, and I consider myself to be somewhat experienced in crypto investment. I am a LONG investor so my investment philosophy may be quite different from those who like to or need to make money in relatively short-terms. Throughout the mentioned 10 years, I have repeated the buying and selling process multiple times but at the end I always ended up possessing more. I often tell people to remember ONE thing. And that is ultimately for any investment in my opinion. That is to ONLY invest what you can afford to lose. While there are many so-called professional and educated investment methods are available, literally anything can happen to any form of investment. It is only the matter of risk degree that people have more and less confidence.
First of all, you need to learn to read the trend and potentially possess the capability to anticipate it in more probable and educated ways. How do you achieve that or gradually develop it? Well.. the first suggestion would be to stay always up-to-date with the latest news. I often find some YouTube and Twitter accounts to be quite valuable and reliable in terms of being informed of what is going on with crypto currencies in the world. Also stay on top of news regarding the government perception and move towards the crypto currency market. At the end of the day, the real success of any crypto currencies would depend on how favorable the government eventually becomes. Rules and regulations really do matter!
Secondly, and this is for short-term traders in general. Learn to read the charts! Stocks and crypto currencies don't play charts all the time, but it will increase the likelihood of guessing the next move right and reduce the involved risks significantly. There are times when charts do not really matter, and that is something you will be able to experience over time just as I did. There are side factors that also affect the crypto currency markets and you also need to be able to distinguish what those could be. For example, for the month of March and April, Bitcoin and other cryptos could benefit from the stimulus checks as many people seek places to invest that extra money. Not to mention that institutional investment in crypto lately, especially in Bitcoin, could also act as an additional catalyst to the market as this would make investing in cryptos more legitimate and safer for individual investors.
Lastly, you need to learn to be patient. I have sold my Bitcoin multiple times over the course of last 10 years. And I ended up making some profits and accumulating more Bitcoin now than ever personally, but was it really worth it after all? Not really! Take a look at the chart for Bitcoin for the last decade or so. You will see a number of dips here and there but at the end of the day it has always been an uptrend. This translates to buying some Bitcoins and simply holding it would have given me 2x, 4x, 6x, etc. of profits. As long as you can be patient with your investment, it has been extremely rewarding investing in Bitcoin and most of other legitimate crypto currencies. If you do not want to be bothered with putting efforts into short-term trading profits, just buy and hold for the next 5, 10, or more years. Based on the historic ROI for Bitcoin, there is a good chance that you will make good money off of it in my opinion.