In the crypto trading industry, profit and loss are part of the investment process, where a losing trend can make millions and vice versa. However, despite the possibility of gains, it is not an easy game, as various factors affect a token’s value. This is why developing a risk management strategy and running a proper technical analysis is mandatory to maintain profits in the crypto market. One such crypto trader has presented the best example, turning his $1.8K investment into $873K within 48 hours.
Crypto Trading Opportunity Turned $1.8K Into $873K
Though the crypto market is full of profitable opportunities, making instant gains is rare. The value of assets fluctuates often, complicating the crypto trading process. However, a few with deep market knowledge and understanding of the trades made heavy profits, including this crypto trader who invested in Ban token and made a 490X return on his investment.
Lookonchain brought this incident to attention, revealing the trade record, which made heavy gains within 48 hours. As per the post, the trader spent 10.2 $SOL, equivalent to $1,795. With that, he bought 36.27M $Ban, and once the token grew multiplefold, the investment turned into $873K in just 2 days.
This guy turned $1,795 into $873K in just 2 days — a 490x return!
Everyone could learn from this trader’s selling strategy: instead of panic selling everything at once, he gradually sold portions after each surge to avoid missing the rally.
He initially spent 10.2 $SOL($1,795)… pic.twitter.com/bk9YjKfCmD
— Lookonchain (@lookonchain) October 27, 2024
It is more than impressive, as the crypto market has been struggling for the past few days despite the hype around Uptober. Earlier, the market had gotten a grip on the bulls, but with the impact of macroeconomic events, the situation is not entirely favorable.
Crypto Trader Made Heavy Profit With One Simple Trick
Though the crypto market is challenging, investment strategies should not need to be as challenging. This is what this crypto trader exhibited, and he just followed a simple strategy of standing strong through losses. In crypto trading, people often make the common mistake of panic selling, as they end up trading their holdings in fear once their price begins to plummet. And to save any portion of their investment, they wrongly bear heavy losses.
However, this one played smart and kept holding until the price began to grow again. He sold his Ban tokens gradually instead of panic selling, as he sold only a portion after a significant surge to take advantage of any possible rally.
The Lookonchain post further revealed that he first sold 12M $Ban for $56.9K when the price grew. He did not even flicker when the price plummeted 90% and waited for the next rally. More importantly, he only sold 6.13M $Ban for $80.7K and is holding another 18.13M $Ban($734K) while waiting for another rally.
What Is The Lesson Here?
The crypto trading industry is worth $2.27 Trillion today and has seen higher heights when the market was favorable. It confirms how the token value rises and depletes with various external factors, which could make an investor’s rags into riches and vice versa. However, timing is everything here. A trade that began or completed at the wrong time could cause heavy losses, and many have made this mistake, including an investor bearing the loss of $454K after panic selling within 40 minutes of buying. This is the prime example of how panic selling costs you more than bearing the tough situation and selling when a profitable situation returns as this crypto trader did.
The post How a Crypto Trader Transformed $1,795 into $873K in 48 Hours? appeared first on CoinGape.
