What is the most effective options strategy for maximizing profits in the cryptocurrency market?

1 answers

• Aurora D.JOct 03, 2021 · 4 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using a combination of the strangle strategy and dollar-cost averaging to maximize profits in the cryptocurrency market. The strangle strategy involves buying both a call option and a put option with different strike prices but the same expiration date. This allows you to profit from significant price movements in either direction, similar to the straddle strategy. Dollar-cost averaging, on the other hand, involves regularly investing a fixed amount of money into a cryptocurrency, regardless of its price. This strategy helps to mitigate the impact of short-term price fluctuations and allows you to accumulate more cryptocurrency over time. By combining these two strategies, you can take advantage of both short-term price movements and long-term accumulation to maximize your profits in the cryptocurrency market.
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