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Reasons why you should NOT trade cryptocurrencies

AmDiab
Nov 25 2018 at 07:56
718 posts
snapdragon1970 posted:
There are safer things to invest in ,why risk your money on Crypto , its kind of wishful thinking.


Same feeling; I know many propels who are hanging on BTCUSD; they basically invested when the price was above 18000$.

Adribaasmet
Nov 25 2018 at 08:15
931 posts
BluePanther posted:
Bitcoin on the verge of sliding below $4,000 as crypto collapse resumes (Nov 20, 2018)
https://www.marketwatch.com/story/bitcoin-extends-plunge-drops-another-10-2018-11-20


Bitcoin below $5,000 as bloodbath continues (Nov 19, 2018)
https://www.marketwatch.com/story/bitcoin-skid-continues-hits-13-month-low-2018-11-19


Opinion: Victims of bitcoin insanity are quickly piling up (Nov 20, 2018)
https://www.marketwatch.com/story/victims-of-bitcoin-insanity-are-quickly-piling-up-2018-11-20


Fear, Loathing and Opportunity: How Crypto Traders Are Handling the Drop (Nov 21, 2018)
https://news.bitcoin.com/fear-loathing-and-opportunity-how-crypto-traders-are-handling-the-drop/


Crypto scam artist faces up to 20 years in prison (Nov 19,2018)
https://www.marketwatch.com/story/crypto-scam-artist-faces-up-to-20-years-in-prison-2018-11-19


No doubt, there have so many investors as well as traders, who lost huge capital by cryto currencies especially on BTCUSD.

BluePanther (BluePanther)
Nov 27 2018 at 08:01
1344 posts
AmDiab posted:
snapdragon1970 posted:
There are safer things to invest in ,why risk your money on Crypto , its kind of wishful thinking.


Same feeling; I know many propels who are hanging on BTCUSD; they basically invested when the price was above 18000$.




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togr (togr)
Nov 27 2018 at 21:47
4862 posts
BluePanther posted:
AmDiab posted:
snapdragon1970 posted:
There are safer things to invest in ,why risk your money on Crypto , its kind of wishful thinking.


Same feeling; I know many propels who are hanging on BTCUSD; they basically invested when the price was above 18000$.




You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


BluePanther (BluePanther)
Nov 28 2018 at 07:50
1344 posts
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


So go back to last year and buy some BTC.
I live in the real world and can't time travel.

BluePanther (BluePanther)
Nov 28 2018 at 07:50
1344 posts
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit...


I still do not get your point.

The purpose of this thread is to better understand the risks involved with cryptocurrency, and why it is NOT a sound investment choice. So if a new trader is reading your post, how does that help them?

Sounds like subtle encouragement for them to buy BTC and HODL.
Sounds like you own some BTC yourself and are HODLing.
You need to disclose your conflict of interest.

BluePanther (BluePanther)
Nov 28 2018 at 07:53
1344 posts
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


togr posted:
I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


Is this your point?
Your post would be better suited to the following thread:
https://www.myfxbook.com/community/general/trading-cryptocurrencies-bitcoinetherium-litecoin-etc/1513362,1

This thread is titled 'Reasons why you should NOT trade cryptocurrencies', and aims to 'share important information (especially th risks) related to cryptocurrencies that all investors/traders should be made aware of prior to their foray into this [emerging] market'.

Thank you for your contribution.

BluePanther (BluePanther)
Nov 28 2018 at 08:00
1344 posts
togr posted:
togr posted:
And it gather 20,000% since its low :)


I did not say I am bullish.
I said there is no need to panic.
As BTC is such volatile instrument it can lose 75% of its value and recover.


You contradict yourself. Optimism toward recovery is 'bullish' to professional traders.

PinUpGal
Nov 28 2018 at 12:11
12 posts
BluePanther posted:
togr posted:
You still not get it
Last year in January you could have bought 1 BTC for 1,000 USD.
More precisely 966.19.
So even with the drop to $4,000 you could still have 300% profit....


So go back to last year and buy some BTC.
I live in the real world and can't time travel.



Very good point. BTC is just risky as hell. It is perfect for hindsight traders but trading it in real time is totally different

jamesgwyther
Nov 28 2018 at 12:44
289 posts
I trade Crypto a bit but I definitely get what people are saying.

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