Reasons why you should NOT trade cryptocurrencies

Dec 15, 2017 at 19:13
16,229 Angesehen
490 Replies
Mitglied seit Jan 25, 2010   1360 Posts
May 23, 2021 at 16:50
Tether fraud waiting to blow up Crypto markets (MAY 23, 2021)

https://globalintelhub.com/tether-fraud-waiting-to-blow-up-crypto-markets/
Mitglied seit Apr 28, 2021   9 Posts
May 24, 2021 at 12:24
So do you think that crypto has now peaked and is now on a downward slide?
Mitglied seit Jan 25, 2010   1360 Posts
May 24, 2021 at 15:22
People Behind Crypto Protocol DeFi100 May Have Absconded With $32M in Investor Funds (MAY 24, 2021)

https://globalintelhub.com/people-behind-crypto-protocol-defi100-may-have-absconded-with-32m-in-investor-funds/
Mitglied seit May 25, 2021   9 Posts
May 25, 2021 at 12:38
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
Mitglied seit Oct 16, 2020   137 Posts
May 27, 2021 at 07:33
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
- Although I have lost half of the money that I put in Crypto, I am still hopeful that the prices will rise once again 😊.
Mitglied seit Apr 05, 2021   9 Posts
Jun 03, 2021 at 09:28
It is that mindset that prevents bitcoin from hitting the floor .. Please do not sell they just see it as a blip and soon they will be millionaires . For many bitcoin is like a lottery ticket
Mitglied seit Mar 15, 2019   82 Posts
Jun 19, 2021 at 23:24
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.


How's that going for you these days?
All or nothing
Mitglied seit Jan 25, 2010   1360 Posts
Jun 20, 2021 at 11:46
The Tether Scandal: The Biggest Threat To The Crypto-Ecosystem (JUNE 20, 2021)
https://globalintelhub.com/the-tether-scandal-the-biggest-threat-to-the-crypto-ecosystem/
Mitglied seit Jan 25, 2010   1360 Posts
Jul 07, 2021 at 07:35
Brothers Abscond With $4 Billion In Crypto Stolen From South African Exchange (JULY 6, 2021)
https://globalintelhub.com/brothers-abscond-with-4-billion-in-crypto-stolen-from-south-african-exchange/
Mitglied seit Jan 25, 2010   1360 Posts
Jul 18, 2021 at 07:01
The Creator of Dogecoin Says He Now Believes That All Cryptocurrency Is Horrible (JULY 15, 2021)
https://futurism.com/creator-dogecoin-cryptocurrencies-horrible
Mitglied seit Jun 08, 2021   10 Posts
Jul 26, 2021 at 11:25
There are both pros and cons for trading cryptos. But like @LemonFeather said, there are chances for cryptos to gain more value as well. Whether or not to trade cryptos is up to every individual choice, but I personally think they have good growth prospects in the technology driven future.
Mitglied seit Jan 25, 2010   1360 Posts
Jul 28, 2021 at 02:23
Tether Executives Said to Face Criminal Probe Into Bank Fraud (JULY 26, 2021)
https://globalintelhub.com/tether-executives-said-to-face-criminal-probe-into-bank-fraud/
Mitglied seit Jun 17, 2021   11 Posts
Jul 29, 2021 at 11:37
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure
Mitglied seit Jul 20, 2020   399 Posts
Sep 10, 2021 at 07:04
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure

Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently
Mitglied seit Sep 14, 2021   1 Posts
Sep 14, 2021 at 08:29
😉
Mitglied seit Mar 15, 2019   82 Posts
Sep 15, 2021 at 00:03
I prefer to focus on the positives rather than the negatives.
All or nothing
Mitglied seit Sep 13, 2021   8 Posts
Sep 17, 2021 at 10:55
Smith2525 posted:
I prefer to focus on the positives rather than the negatives.


If you do that then you will end up losing all your money. As good investor needs to look at positives AND negatives
Mitglied seit Jun 14, 2021   53 Posts
Sep 22, 2021 at 07:50
@Karlos Fandango spot on , and I believe there is plenty of scope in crypto and many people can make tons of money if they trade correctly in that market.
Mitglied seit Jun 14, 2021   28 Posts
Sep 23, 2021 at 07:34
CraigMcG2020 posted:
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure

Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently
I believe traders already are risk takers. When you are trading, you are not doing anything with 100% certainty. Confident traders are those who don't expose themselves to the risk they can’t afford to take.
Mitglied seit Sep 14, 2021   9 Posts
Sep 23, 2021 at 10:25
necolesilvers posted:
CraigMcG2020 posted:
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure

Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently
I believe traders already are risk takers. When you are trading, you are not doing anything with 100% certainty. Confident traders are those who don't expose themselves to the risk they can’t afford to take.


There is risk in everything we do. The important thing is to understand and manage the risk. Nothing can be gained without risk
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