The Cryptocurrency market is currently running on what is called a bull run and apart from the significant increase in bitcoin. We have been seeing a good and high market of altcoins. Every good trader will attest to the fact that this is an altcoin season.
Altcoin season is a period when a large number of altcoins increase with a significant amount against bitcoin and dollar at the same pace of time.
OKEx is a cryptocurrency exchange that provides trading service to millions of users residing in over 100 countries and also, it’s a top digital exchange with a number of altcoins trading per against BTC, USDT, and ETH.
Alternative Cryptocurrency/Altcoins have been doing great for the past 30days to 90days and have recorded a large number of gains over the board.
Some coins with a relative small-cap and little volume have increased by percentage too.
Also, coins with big market cap and volume have also been topping gains.
There have been plenty of recent .examples of altcoins performing fantastically well listed on OKEx exchange and some of these include;
LINK (Chainlink) which increased from $4.08 to $12 in recent times.
ADA (Cardano) gained some increased from $0.079 to $0.14.
XTZ (Tezos) which rose from $2.64 to $4.20 over the last month.
XLM (Stellar ) soared from $0.072 to $0.10.
Trading in An Alt Coin Season
When it comes to trading in altcoin season, there are considerations every trader should put in mind and some of these considerations are enumerated below:
The Best Exchange:
Knowing the right exchange that supports a coin is one worthy note every trader should put into consideration and OKEx exchange has proven to be one of the top Crypto exchanges supporting noteworthy altcoins that have been having a good increase per usdt and BTC over the past days.
Finding The Right Coin:
Before you choose to trade any coin either as a day trader or long term trader. It’s important you undergo your own personal research about the coin and gather important facts about it like;
• The coin’s trading volume which can be found on either Coinmarketcap or Coingecko. As a trader, you should take an analysis of the trading volume of your desired coin of purchase within the last 24hours.
• Be sure of the website outlook of the coin and its team; This can be reading their whitepaper thoroughly and also checking their social media handles on Reddit, Telegram, Twitter Instagram, GitHub, and other social platforms.
Be Familiar With The Chart Patterns:
Before going into any form of Crypto trading you should be able to read the market charts and make predictions of where the market is heading to. You can learn to do this on OKEx Academy if you have no prior or little knowledge of reading charts.
There are been several words from Crypto market analysts about the altcoin season giving some predictions.
Three days back analyst Peter Brandt( a pro-trader and market analysis) explained that a recent ETH/BTC event could trigger a bullish increase in the price of ETH, In a tweet to his followers where he also added that most altcoins are likely to be gaining more against BTC in the market.
An important measure for every trader is to utilize the opportunity of the alt season otherwise known as alt party to make some significant gains and OKEx is a good ground for that providing a learning system for newbies to Cryptocurrency trading through OKEx Academy and utilizing the best technical facilities to provide a safe, reliable and stable environments for digital assets trading.
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