What are the risks of trading crypto 24/7?

3 answers

• Dec 16, 2021 · 3 years ago
  Trading cryptocurrencies 24/7 can expose you to higher volatility and increased market risks. Since the cryptocurrency market operates globally and is not regulated by any central authority, it remains highly volatile even during non-trading hours. This means that prices can fluctuate significantly, leading to potential losses if you are not actively monitoring the market. Additionally, trading without breaks or downtime can be mentally and physically exhausting, leading to poor decision-making and increased stress levels. It is important to set boundaries and take breaks to maintain a healthy trading routine.
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• Dec 16, 2021 · 3 years ago
  The risks of trading crypto 24/7 include the potential for sleep deprivation and burnout. Constantly monitoring the market and making trading decisions can be mentally draining, especially when done around the clock. Lack of sleep can impair your judgment and increase the likelihood of making mistakes or impulsive trades. It is crucial to prioritize your well-being and establish a balanced trading schedule that allows for sufficient rest and downtime.
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• Dec 16, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, trading crypto 24/7 can be risky due to the increased exposure to market fluctuations and potential security threats. While it may seem tempting to trade at all hours to take advantage of every opportunity, it is important to consider the potential downsides. Market manipulation, hacking attempts, and technical glitches are more likely to occur during off-peak hours when there is less liquidity and fewer participants. It is advisable to exercise caution and implement proper security measures when engaging in 24/7 trading.
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