You already knew that we can experience unimaginable things with crypto. When is it enough? Let’s get straight to the point, this is about BAKE. Is it hot air or is there more to it? How do you recognize such an increase? I am going to take you through this process in phases.
First of all, a little bit of history. BAKE (BakerySwap) is a decentralized exchange that runs on the Binance chain. Yes, you read the latter correctly, Binance, that large exchange really has its own blockchain. Some of you will have missed this. This is also the first reason why I caught my eye on this in the middle of the swaps hype. It was mid-March and big names such as Uniswap had been rocketing for some time.
Then I personally will not chase what has already jumped so quickly, but I will look for new opportunities. CAKE and BAKE were the counterparts of the Ethereum (ETH) running Uniswap. This combined with the link to Binance could not be without a big pump.
Research and logical sifting is done. Then on to the next phase. Where do we get in?
Above we see that after that enormous spike in mid-March, the price drops. Around March 25, I shared the above freshly made up figment of the imagination with the Insiders. The price was corrected by almost 70% and the volume dried up. Which is a nice sign for me personally to take the gamble and be patient.
When I buy, I immediately check where I will place my sales orders. This creates peace and overview. Rule of thumb that I often use is 35% off at a 300% increase. This makes your own investment safe and ready for a new project.
With the first spike around April 12, this target was almost reached. The failure to break through bitcoin (BTC) made me decide to secure my investment a little earlier than planned at around $ 2.15.
I would let the rest run to at least that previous top of $ 3. What we have seen in recent days has also somewhat surprised me. Especially the speed of movement is very pleasant if you are already in here from low. Given the rapid rise, I decided yesterday to stay with “only” 20% and take a profit on the rest. I can still see this slip to $ 7 or $ 8, but it is not worth the risk that the price drops to $ 2-3. So the profits made and with me I mean many Insiders. Chapeau! That profit can be used in the next round.
In this way, you see that some little preliminary work, patience, and common sense can take you very far in this mania. Is BURGER or REN next?