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

Aug 16, 2017 at 06:03
Vues 6,996
240 Replies
Membre depuis Oct 12, 2016   posts 834
Nov 07, 2020 at 18:14
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.
Artificial General Intelligence
Membre depuis Oct 05, 2020   posts 30
Nov 09, 2020 at 10:34
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?
Membre depuis Oct 15, 2020   posts 37
Nov 18, 2020 at 05:33
They are both popular cryptocurrencies and can also be profitable if you know how to make profits out of them.
Membre depuis Oct 12, 2016   posts 834
Nov 20, 2020 at 19:56
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.
Artificial General Intelligence
Membre depuis Oct 12, 2016   posts 834
Dec 17, 2020 at 16:33
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.
Artificial General Intelligence
Alexander (Alexander74645)
Membre depuis Feb 06, 2020   posts 14
Dec 18, 2020 at 10:21
Cryptocurrency trading is a very promising trading area.
Membre depuis Jul 23, 2020   posts 759
Dec 19, 2020 at 17:56
Alexander74645 posted:
Cryptocurrency trading is a very promising trading area.
It is also a risky area. I think is risker than other investment market.
Membre depuis Oct 12, 2016   posts 834
Jan 08, 2021 at 09:35
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.
Artificial General Intelligence
Chan (8christianpaul8)
Membre depuis Aug 27, 2017   posts 121
Jan 08, 2021 at 18:25
Interesting thread. 👌🏽
Trading is a marathon, not a sprint.
Membre depuis Dec 14, 2020   posts 18
Feb 10, 2021 at 05:26
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.
Membre depuis Apr 29, 2021   posts 2
May 06, 2021 at 13:30
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 ))
Membre depuis May 05, 2020   posts 17
Nov 12, 2021 at 11:31
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.
Membre depuis Jun 23, 2020   posts 16
Jan 26, 2022 at 14:58
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.
Membre depuis Jul 24, 2020   posts 12
Jan 27, 2022 at 20:48
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.
Membre depuis Feb 17, 2022   posts 3
Feb 17, 2022 at 15:51
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?
Membre depuis Oct 20, 2018   posts 300
Mar 31, 2022 at 21:00
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.
Membre depuis Aug 02, 2021   posts 4
Jun 16, 2022 at 10:38
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.
Membre depuis Jun 10, 2022   posts 26
Jun 30, 2022 at 04:58
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.
Seb King (sebking1986)
Membre depuis Apr 09, 2019   posts 538
Jul 07, 2022 at 13:49
I think above all of them bitcoin is behaving the most like fiat currencies so is the one I feel most comfortable trading.
If you can't spot the liquidity then you are the liquidity.
Membre depuis Oct 12, 2016   posts 834
Oct 14, 2022 at 07:40
I am so happy to see how far crypto has progressed so far in last 5 years.

I created this thread 5 years back and probably it was the first myfxbook thread about crypto currency trading when most traders didn't believe or didn't know or didn't agree about crypto. Now, the situations have completely changed and many companies as well as countries have started accepting crypto as payment method. Dominica has made crypto as legal tender. Also, myfxbook has separate crypto tab for discussion.

Of course, I did some wild price predictions like BTC to reach 200K or 1 Million USD per BTC etc which never realized or never came true. But still it has reached nearly 70K during last all time high which is quite good compared to 600 USD to 2000 USD per BTC when I created this thread.

I have to confess that I was wrong in my timing of price prediction, but still I stay strong on my predictions for BTC price, but not sure how many years it may take to realize BTC price to reach to 1 Million USD per BTC. Even after 13 years from launch of Bitcoin, still overall Crypto market is too small and too new compared to forex market net market value and so money transfer from forex market to crypto market is very slow.

So probably we need few more years for the BTC price to reach those levels. But you need to be always ready to accept at least 70% to 80% drawdown levels for all your crypto investments since these markets are highly volatile.
Artificial General Intelligence
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