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

Hello Everyone,

I have not been active in this thread for quite long time since I was busy in forex itself and crypto was still in early stage and still in early stage now also considering the shift in market capital value from forex to crypto entirely.

Most importantly I was not interested in any price below all time high and there was a long gap in between for price correction, but probably we are approaching towards that time for BTC price at least.

Now, after 4 years of creating this thread, let's look back and forward into the future.

Few important things:
1.I created this thread 4 years back to introduce myfxbook users about cryptocurrencies.
2.This was the first cryptocurrency thread in myfxbook.
3.I made many bold predictions about the future price of cryptocurrencies and very few realized and many didn't realize in time and not realized yet.
4.I still hold some of my price predictions just removing the timeline and so it's just about when? But the prices will realize in future.
5.When I created this thread and made these predictions, there was no crypto regulations in all most any country, no pandemic, and no such market events which the world is going through now

Most important price prediction which I still hold as BTC price to reach around 1 Million USD to 2 Million USD per BTC which I predicted few years back, but still not realized. At the same time there was no pandemic at that time.

I still hold on to those prices and now with trillions of USD printed as stimulus package in US and many other countries as well, I guess some of you can understand the practically of these predictions. There are many more reasons now for BTC price to reach such levels.

Why BTC price is not just shooting up straight like it did in last all time high?
Ans: It is very simple. Number of BTC whales are increasing as time passes by since some already know about such future price of BTC and hence, one BTC whale can collapse the BTC price to large extent in one day if it increase significantly high in short time and hence, big investors are naturally careful in going all in all BTC. Hence, everyone is just accumulating BTC slowly at the best low price they can get continuously.

Hence, the main BTC price movements are still happening just because of daily usage of institutional traders, forex brokers during deposit and withdrawal, payment processors like skrill, neteller and PayPal is on the list and BTC price is not influenced too much from big investors since they are careful in putting big money at once.

Finally, BTC might go up or down in short term, but price of 1 BTC=2 Million USD is clear in long term future. But when I don't know.

Thanks for reading.

I have always been a forex trader. I am now planning to diversify my portfolio and invest in cryptocurrency. I want to know a few tips from you guys. How different is crypto trading from forex trading?

They are both popular cryptocurrencies and can also be profitable if you know how to make profits out of them.

After many years of waiting finally BTC price is approaching towards all time high. Many people have been skeptical in the past and will be skeptical even after BTC price crosses 100K, but BTC will keep rising and falling and in long run rising only.

It will be really interesting to watch how BTC price moves after it crosses the all time high.

If price of BTC continue to grow in same rate, then we can expect an easy 100K to 200K per BTC shortly.

But short or long pull backs might be expected around 29K, 45K, 58K, 80K and 95K.

95K to 97K might be a strong resistance before breaking through the 100K mark per BTC.

Note that the prices of BTC usually follows a exponential growth pattern and not a linear pattern when it is free from too much government influence, attacks, regulations etc.

It means the BTC price pattern can follow like this 20K, 40K, 80K, 160K, 320K, 640K and finally reaching the 1 M USD per BTC price mark.

So basically 7 steps away from 1 M USD per BTC. This 7 step can be 7 days, 7 Weeks, 7 months or under worst case 2 to 3 years.

NOTE::: This is not any financial advice and never invest anything in BTC which you can't afford to loose. You must be ready to handle any price pull back when you buy BTC. I said it multiple times in this thread since last 4 years and same is true now also. You invest only what you want to keep in BTC for lifetime and don't care whatever the price will be since in future most probably you will not want to sell your BTC whatever price it may be.

Cryptocurrency trading is a very promising trading area.

Alexander74645 posted:
Cryptocurrency trading is a very promising trading area.

It is also a risky area. I think is risker than other investment market.

So my first target of 40K per BTC has been hit as per exponential price growth expectations.

Next, price targets for BTC are as follows 80K, 160K, 320K, 640K and finally reaching the 1 M USD per BTC price mark.

We can expect pull backs of course in the mean while during 80K to 95K before crossing 100K mark.

Interesting thread. 👌🏽

I’m glad you started this. It is very important to stay updated with the latest news and follow updates about the market you’re trading in. Thanks for sharing.

This is very good information, and it is good that there are such forums, and people share their experience or knowledge in this area. I personally don't really believe in litecoin, but I do, and I am confident that Ethereum will grow in price and value and reach the level of Bitcoin. Now it is risky to invest in cryptocurrencies for the reason that it is already beginning to grow and the correction period has ended. For those who don't know what the growth period means, this is the time when all cryptocurrencies have fallen to the price because many of them have sold out. I personally am now on the platform https://yuanpaygroup.com I bought 3 Ethereum when they were priced at $ 1,600, and they are already an extra nearly $ 9k. But I bought a few smaller ones. Now I'm waiting for a miracle ))

Crypto currency trading is a pretty spread activity nowadays, because almost everyone wants to start it off. Of course, market always eliminates those who entered cryptotrading just play with it. They just lose their money and quit trading activity. I just want to tell that such traders don't understand how much is their affection on the market. Some real traders sometimes lose their money because of couple hundreds of such traders, who just entered to play with crypto. So, today I can allege that the market goes high and this tendency is long-lasting. Remember that you have to analyze the market properly.

I remember I first felt a huge inerest in Bitcoin in 2019. I even was even lucky to kick in on time. I was staying in locked positions for year and closed all in the green. I was wrong I know but at that time it was first crypto experience and I lacked patience. I so regret exiting when it barely hit 10K. Now I want to get back but don’t know what to do with all these crazy ups and downs but I want to catch up.

Perhaps, the best thing about crypto trading is that Bitcoin, Ethereum, and Litecoin move the same on the market. So, it’s very suitable to open and hold the same trading positions. I remember that it was one of the first things about crypto trading that pleasantly surprised me. Sometimes I want cryptos to be more unique not to make me bored but years pass and digital coins still follow Bitcoin. Perhaps, they can’t do anything different.

I invested in YoFarm, which is the new native crypto currency on Yobit. Yobit has been around since 2014. For providing liquidity they have been paying me about 1-2% daily, which is over 365% APY and is nice income. What are you thoughts?

MarkoDanic posted:
I invested in YoFarm, which is the new native crypto currency on Yobit. Yobit has been around since 2014. For providing liquidity they have been paying me about 1-2% daily, which is over 365% APY and is nice income. What are you thoughts?

I`ll take a look.

It looks like now the best cryptocurrency to invest in is Ethereum. Dogecoin is good too, but it’s less popular.
Something makes these currencies more profitable than BitCoin now because they are younger, and there is more place for the new players. They also don’t need so much electricity to produce. I wonder how much electricity is wasted now to mine new bitcoins since they need more and more power to appear. It is just insane, and I don’t understand its purpose. Websites like https://odos.xyz/ help get huge profits from cryptos, and it is the best way to play in this market, to my mind. You don’t lose anything and don’t threaten the planet this way.

Waanderlust posted:
Trading cryptos is highly profitable if traders have appropriate knowledge about the cryptocurrency market and trading skills. It can be really dangerous and one can lose his entire hard-earned money if he does not know what he is doing.

Good Point.

I think above all of them bitcoin is behaving the most like fiat currencies so is the one I feel most comfortable trading.