There has been quite a stir in the crypto trading world over DexA, which has seen its price tumble 90 percent from $50 to $4.73. The token was the subject of the most recent CryptoJack episode, where it endured a severe devaluation in only a few hours. It is not often one sees such a precipitous drop, even in these notoriously fickle markets, and the event has drawn the attention of both traders and analysts while prompting some to question the risks of dealing in newer digital assets.
A Stunning Decline: DexA’s 90% Crash
Yet for some, the crash was an opportunity. A trader with the Chart Chasers group reports that his members were able to take advantage of the situation, putting together a 166 percent profit. One of them managed a 120 percent return in as little as five minutes.
Chart Chasers Seize the Opportunity
There was a marked contrast in how the DexA downturn was handled. While numerous investors watched their positions wither away, the Chart Chasers trading group put a different plan in motion. The group has swelled to more than a thousand members and, as one of its traders will tell you, they were able to profit from the chaos with a short position placed at just the right moment. That timing allowed them to secure a 166% profit as DexA fell. In some cases the returns were even more dramatic; one member of the group posted a 120% gain in the span of five minutes, a testament to how quickly crypto opportunities can present themselves.
Chart Chasers has made a name for itself on the strength of the kind of detailed analysis and no-nonsense strategies it offers its membership. Their ability to gain an edge while DexA’s value was in free fall was due to that sort of preparation and a coordinated response. As CryptoJack has pointed out, turning the volatility of DexA to their advantage is a matter of skill in identifying where to enter and exit.
Lessons from DexA: Timing and Strategy
There is an old adage in the crypto world that timing is everything, and one need only look at the DexA implosion and the windfall for Chart Chasers to see it borne out. It is a lesson CryptoJack has been emphasizing: when the market throws up some extreme swings, the difference between a trader who makes money and one left with nothing but losses is the capacity for decisive action.
Chart Chasers have demonstrated how a bit of robust analysis and discipline can make a chaotic environment work to one’s advantage. For the traders still reeling from the way DexA tumbled, their story is as much a warning on risk as it is proof of what a well-informed and agile group can do in this fast-paced arena.
Source — CryptoJack: https://www.youtube.com/watch?v=CraiBOKzOHQ
