A popular seasoned crypto trader called Blackbeard has just laid out his view on how traders can become “expert” in predicting the next big crypto trends and narratives, a key skill for successful investing in the crypto space.
THE BASICS TO SPOT CRYPTO NARRATIVES AND TRENDS EARLY
Ready to become an expert in spotting the next big thing in crypto? Thread
pic.twitter.com/ceNJi9TdAB
— Blackbeard (@blackbeardXBT) October 27, 2023
“Narratives are the stories or themes that drive a market”, Blackbeard clarified, adding that “trends, on the other hand, are directional movements of the market over a certain period”.
In order to spot narratives, “it’s all about staying informed” the trader explained.
He suggested that traders utilize DeFi Llama, DuneAnalytics, DEXScreener, Etherscan, news sites and YouTube influencers to say informed and specifically recommended that analysts use a “pretty dope” dashboard created by X user @cryptokoryo to give an overview of potential and current narratives.
Luckily there are some great dashboards on @DuneAnalytics. To have an overview of potential and current narratives, @cryptokoryo created a pretty dope dashboard. Have a look, play around, do some research. pic.twitter.com/4ZA4ezSIW6
— Blackbeard (@blackbeardXBT) October 27, 2023
“Spotting trends involves more analysis,” Blackbeard noted.
Traders need to “look at trading volumes, price movements, and public interest over time,” he explained, adding that “it’s like watching the crowd… If they’re all rushing in one direction, that’s where the trend is heading!”
Blackbeard said that to spot trends early, he mainly utilizes DeFi Llama, Etherscan, Twitter (now X) search and Dune Analytics.
The seasoned trader concluded by warnings readers that “not everything is a golden opportunity,” and that they should remain “alert for red flags like anonymous teams, unrealistic promises, and lack of transparency”.
Bitcoin ETF Token ($BTCETF) – A Still Relatively Unknown Crypto Gem?
As per Blackbeard suggestions, investors would be smart to consider investing in tokens that have a strong and growing narrative and are showing signs of attracting a lot of crowd interest, as well as exhibiting few of what he termed as “red flags”.
A new token called Bitcoin ETF Token ($BTCETF) fits this bill perfectly.
The near-term anticipated approval of spot Bitcoin ETFs is a huge theme in the crypto market right now and Bitcoin ETF Token rides this narrative perfectly by rewarding its investors every time key developments in the spot Bitcoin ETF approval process play out.
Meanwhile, despite only launching its presale a few days ago, Bitcoin ETF Token has already been able to pull in over $580,000 from investors, early signs that the retail crypto crowd is taking a strong interest in the token.
$BTCETF is also likely to benefit from further strong narratives, such as its DeFi attributes.
$BTCETF tokens can be bought in presale today and staked to earn an annual percentage yield currently sitting at 487%, as per the project’s official staking dashboard.
Investors should move quickly to secure their tokens before the price rises in under two days.
The post Trader Explains How To Predict The Next Big Crypto Trend And Narrative appeared first on Cryptonews.
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