Reasons why you should NOT trade cryptocurrencies

bax699 posted:
i think you should trade cryprtocurrencies, its very profitable

LemonFeather posted:
Maybe there are good reasons to not trade Crypto but the fact is that the price has rocketed and people have made millions. I think crypto can be traded but only as a small % of your portfolio

BluePanther posted:
This thread is in response to Leo23's discussion: 'Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....'
https://www.myfxbook.com/community/general/trading-cryptocurrencies-bitcoinetherium-litecoin-etc/1513362,1

I am blocked and unable to post in his thread, but I would like to share some important information related to cryptocurrencies that all investors/traders should be made aware of prior to their foray into this new market.

My only questions are:
- Is this another case of Tulip-mania?
- Does Leo23 have a vested interest in garnering support for investment interest in cryptocurrencies?

Here is an important article I think the community should read to get a better understanding of recent growth in cryptocurrency demand (specifically BTC):

https://protradingresearch.com/2017/12/14/one-bank-believes-it-found-the-identity-of-who-is-propping-up-the-bitcoin-market/

Sharing (information) is caring. 😎 Feel welcome to share your personal and professional opinion on cryptocurrencys, especially if Leo23 has blocked you from his thread. Please backup all opinions with evidence where possible. Unfounded opinions, posts contrary to generally-accepted social norms of respect, and posts in breach of myfxbook's Terms of Use are deemed inappropriate and may be reported.

Full disclosure: I have invested $0 in cryptocurrencies, and have 0 intention to do so any time soon. The phenomenal gains are the only reason it has caught my curiosity. I will continue to trade 'normal' forex only TYVM.