A well-known cryptocurrency analyst has conveyed a crucial message to his extensive social media audience, cautioning against viewing crypto trading as a traditional job, as this perspective is fundamentally flawed.
He explicitly stated, “If you approach trading with this mindset, you are mistaken.”
In a bid to reshape the mentality surrounding crypto trading, the analyst asserted that a paradigm shift is necessary. According to him, trading should be regarded as a business where compensation is not tied to time but is instead contingent on factors such as the decisions made, adherence to specific actions and processes, effective risk management, and maintaining emotional composure.
He urged his followers to divert their focus from spending excessive time on trading itself and instead allocate more time to refining the aforementioned aspects crucial for successful trading.
Furthermore, the analyst underscored the absence of overtime pay or fixed salary in crypto trading, emphasizing that the onus of realizing profits or enduring losses lies solely with the investor.
The crypto analyst community has witnessed a surge in dispensing advice, particularly during positive market trends. Amidst optimistic market conditions, analyst Deutscher anticipates a favorable impact on the profit potential of alternative cryptocurrencies (altcoins).
He expressed optimism, stating, “This will positively affect many altcoins and generate new trading opportunities.”
Notably, he directed his followers’ attention towards projects generating significant buzz and news, advising them to seek out ventures with noteworthy upcoming catalysts or announcements.