This topic I am creating to keep on updating about the latest news of cryptocurrencies who love to trade cryptos rather than forex.
Finally, Bitcoin has crossed a price level of 4000 USD and now at the time of writing this post, the price is around 4300 USD per BTC which is absolutely insane. Just few weeks ago it was below 2000 USD and so it is a 100% gain in few weeks.
We love to trade cryptos because you can simply buy and hold the cryptos in your wallet and there is no question of margin call which generally happens in forex trading if price goes significantly against you. Almost any % gain is possible in cryptos which is absolutely impossible in forex and many people might have been struggling for years to achieve that % gains, but provided you don't day trade in cryptos.
As long as you have invested in some top cryptos there is no chance of price going to zero and hence, just need to hold and you are always safe as long as ONLY you have access to your wallet.
Anyone who loves to trade cryptos can make their views and update latest information about crypto market.
just need to hold and you are always safe as long as ONLY you have access to your wallet.
Thats is a pure nonsense. When you buy BTC at some point lets say $4000 and you speculate it will go to $6000 and it will go to $2000
you loose 50% in a week. SO it is the very same as trading gold. Price of the commodity(btc or gold) in USD (or other currencies) fluctuates up and down.
You will loose 50% if you sell the BTC at 2000 USD, otherwise, NOT. So your argument is pointless.
Crytpotrading like BTC or any other cryptos is NOT for you:
1.If you want speculate for few days or weeks expecting for profit.
2.If you want to day trade or margin trade like forex
3.If you want to make consistent steady gains every week or every month like forex
4.If you are worried about drawdowns
You should ONLY invest in cryptos which you are 100% sure to hold for at least for few months or 1 to 2 years, Otherwise, never invest in cryptos. That sudden increase in price from 2000 USD to 4000 USD was because of fundamental reason which very few traders take advantage of and they don't sell of BTC at low price if they have bought at high price.
It is not like a forex trading and neither it is a commodity trading like gold. It is like trading a new technology which is blockchain technology.
Also, what if the BTC price will go 100,000 USD per BTC in 2020 as some market analyst say.
By the way, BTC trading is not for small investors any more since the price has gone to 4000 USD and above. But there are hundreds of new potential coins based on blockchain which can be bought and hold at very low cost for thousands of % gain within 1 to 2 years and that's why I created this thread to inform about other cryptos as well.
BTC will anyway go up, but up to what price nobody knows and will go below what price also nobody know. Just need to buy and hold if someone want to and if he can handle any drawdown.
Artificial General Intelligence