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Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....
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TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) Oct 11 2018 at 14:50
FastAudi posted:
Crypto crash yesterday I bet that hurt a lot of people. I wonder if this is beginning of a big correction on crypto. Could short this all the way to zero!!!

The Dow and S&P 500 had their worst crash since February as well. You don't see a lot of equity traders complaining…
https://www.jfdbrokers.com/en/research/us-equity-markets-plummet-gbp-gains-amid-brexit-optimism

It's just the way the market works - when the markets crash people panic sell or sell to cut their losses.

Just take a look at the chart of the market crash from January/February and compare it to the BTC chart in the same time.
They are almost identical!

Accept the loss as experience
niceGLer

Member Since Dec 28, 2013  158 posts niceGLer Oct 11 2018 at 14:51
FastAudi posted:
Crypto crash yesterday I bet that hurt a lot of people. I wonder if this is beginning of a big correction on crypto. Could short this all the way to zero!!!


This sh*t happens all the time in cryptos. Still, watching the weekly and daily shows that BTCUSD has been trading flat for some time. I've experienced that flat market is a recipe for a disaster, in any currency pair! Maybe XRPUSD would be a better alternative? At least it seems to be moving. TBH, I have no idea how to trade cryptos.

crabby12

Member Since Oct 11, 2018  9 posts frank (crabby12) Nov 06 2018 at 15:16
Cryptocurrency differs from Stocks and Forex trading in various ways. First, unlike stocks and forex trading, cryptocurrency are not governed by any centralised authority. Price of cryptocurrency depends mostly on Demand and Supply. Second, Cryptocurrency trading market is 24x7 unlike stocks and forex which happens for some limited duration of the day. Hence cryptocurrency trading is more volatile too. Take a glance at the most important of [url='https://blockchain.intellectsoft.net/blog/consensus-protocols-that-meet-different-business-demands/']consensus protocols[/url] and you will see how it really works.

iamjacobs

Member Since Nov 07, 2018  17 posts iamjacobs Nov 15 2018 at 14:36
BTC dropped to 5276 (the lowest point after 18 oct. 2017.) It seems to be a bad signal. But I believe the grows will follow the down and the price become to 10k again before the end of this year.

TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) Nov 16 2018 at 08:36
iamjacobs posted:
BTC dropped to 5276 (the lowest point after 18 oct. 2017.) It seems to be a bad signal. But I believe the grows will follow the down and the price become to 10k again before the end of this year.


I doubt it will hit 10k this year but 6-7-8 is a possibility.

Which in turn, like I said in the other thread, is a good opportunity to make a quick cash flip.

Accept the loss as experience
davidwatson

Member Since Jul 27, 2018  16 posts davidwatson Nov 16 2018 at 14:15
TiffanyK posted:
good opportunity to make a quick cash flip.


Agreed. same view on this.

AniLorak

Member Since Apr 18, 2017  864 posts AniLorak Nov 25 2018 at 07:58
iamjacobs posted:
BTC dropped to 5276 (the lowest point after 18 oct. 2017.) It seems to be a bad signal. But I believe the grows will follow the down and the price become to 10k again before the end of this year.

Around 10K?? Now, the price is around 4K and I see, the sellers momentum is very high.

leo23

Member Since Oct 12, 2016  539 posts leo23 Apr 03 2019 at 17:20 (edited Apr 03 2019 at 17:28 )
It has been a long time I didn't make a post regarding cryptocurrencies. Though I was busy with my own work, but one of the obvious reasons for this is because cryptos were still undergoing through a consolidation phase which arised due to the last pump and dump of 6K to 20K and back from 20K to 6K and then, to 3.5K.

There were many things which have happened in the crypto space which I am unable to keep a track of all of them. But most of them are positive, but not as much positive as to move the crypto market.

Now, there is some momentum being seen in the market. But nothing can be said until the strong resistance levels are broken like 10K,15K and 20K. But we may expect a bullish market if this time it crosses 10K quickly. If the momentum will slow down, then it can retrace back to 4K or below again. The most important thing is the short term momentum or volatility which was the nature of crypto, but it was almost dull or dead after the last pump and dump and was remaining flat for many months after that event.

But one thing for sure is cryptos and BTC are not going to die and they are here to stay. Most importantly cryptos are the future of money and all fiat currencies will be redundant within a matter of next few years. One of the example of such rapid growth will be by usage and adoption of stable coins.

I expect the stable coins to be popular in near future and hence, those people who are interested in cryptos should keep a eye on those. Currently, in my knowledge very few stable coins are there like USDT or USDC etc.

But I expect most of the fiat currencies will be rapdily replaced by stable coins like USD coin, EUR coin, GBP coin simply because you don't need to have a bank account to store and send those cryptos and there are no limit on the volume of transactions. You can send 1 Million or even 1 Billion USD coins from your mobile device to another mobile device from one part of the world to another part of the world.

But try to do the same using a bank account using wire transfer, then you will understand what I am taking that it is almost impossible to do such things using regular fiat currencies using wire transfers and banks etc. So I guess stable coins will give a doorway to make the cryptos to be popular soon and then, Bitcoin I guess will remain as king of cryptos followed by Etherium.

Another reason for the usage of cryptos instead of fiat is that you can program your crypto currency using smart contracts for commercial usage to automate entire companies which is not possible using fiat currencies.

Happy trading cryptos!!!

AmDiab

Member Since Apr 18, 2017  652 posts AmDiab Jun 24 2019 at 06:15
Leo; you are doing outstanding job (posting of crypto) by adding valuable words! But I see; mostly Forex traders aren’t interested on crypto; as I think; it’s really unfortunate!

leo23

Member Since Oct 12, 2016  539 posts leo23 Jun 24 2019 at 06:48
AmDiab posted:
Leo; you are doing outstanding job (posting of crypto) by adding valuable words! But I see; mostly Forex traders aren’t interested on crypto; as I think; it’s really unfortunate!

Forex traders usually don't like crypto, because there is almost no leverage in crypto as compared to forex. But forex traders don't have any choice, because as I predicted before few years forex trading will be dead within few years since there will be no liquidity in the market when all fiat currencies will be dead and banks will be dead.

Because all money from forex will switch to crypto market. Since it is the banks who provide liquidity to the forex market and when there will be very few users for the banks, then liquidity will naturally dry out.

One of the early signs are like ESMA rules for europian forex brokers for leverage reduction and next coming behind ASIC brokers now and people discuss that forex brokers will be dead, but it is not true entirely. Rather forex trading will be dead and those brokers who will switch to crypto trading will survive and others will die.

Finally, it doesn't matter whether someone is a forex trader or not, because for day to day expenditures people have to use crypto since there will be hardly any companies accepting fiat money after few years. Those companies accepting fiat will have much higher fees compared to crypto and hence, people will naturally switch to crypto.

Also, now even while sufficient liquidity is there in the forex market more than 90% of retail traders loose money and when there will be no liquidity in the forex market, then 99% of traders will loose money except those big hedge funds using highly sophisticated algos for trading.

So Forex trading and traders really don't matter for crypto anymore since forex trading will be dead within a matter of couple of years. The quicker forex trader will switch to crypto, it is better for them. Because at least in crypto you can't loose more money since there is no big leverage available, but still you can loose in crypto as well. So I don't recommend crypto margin trading as well and I recommend only crypto holding and crypto usage.

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