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

I also love Bitcoin. The tech is way too good, especially blockchain and I love Forex too, no doubt. So I used to divide trading funds into these two. No regret. :D

davidwatson posted:
I also love Bitcoin. The tech is way too good, especially blockchain and I love Forex too, no doubt. So I used to divide trading funds into these two. No regret. :D

Are you a regular trader on BTCUSD?

There are so many important things happening in the crypto space that it is impossible to keep up with it and update here regularly.

There are many fundamental changes happening right now and happened in the past as well. But I expect the major price recovery to happen mainly due to Bitcoin ETF approval which most of the people in crypto space believe.

However, on the background there are many changes which have happened in the past to build the foundation based on which the paradigm shift from forex market to crypto market will happen in coming years. I mean the mass adoption of crypto instead of fiat money will happen in coming few years.

So if you have hold your crypto till now in your crypto wallets and survived so far through the crypto bear market which was a conspiracy by banks and governments to create a false sense of market crash among new investors, then you are almost ready to enter to a new paradigm shift of the financial system when all the crypto haters will repent and your crypto portfolio balance will increase exponentially in coming months and years if you have survived so far.

Why I am saying this is because forex market will be almost dead within next couple of years may be 5 to 6 years when 80% of the transactions would be happening by crypto and hence, there will not be much liquidity in the forex market after 6 years as it is now and so even margin trading will switch from forex to crypto.

Now, many banks as well as governments are planning to implement their own crypto, but I guess those will fail if people will understand the real value of crypto is decentralisation.

The price of Bitcoin is oscillating around the same levels what it was doing around at this time last year before the Bitcoin's future launch.

After the launch of Bitcoin future, the price was pumped intentionally to 19K within a matter 2 months by hype and media news to create a false sense of market crash for new investors. It was a conspiracy by banks and governments to keep the retail investors away from crypto space since a new investor or trader has absolutely no idea about the nature of crypto market in general.

So until we see another fundamental news event like Bitcoin ETF approval, the Bitcoin price may hover around the same level of 6K to 8K, because it is the average mining cost for one Bitcoin.

But for long term Bitcoin is bound to reach at least 2 to 3 Million USD per Bitcoin within next 3 to 5 years or may be even less than that time period.

Once Bitcoin ETF approval happens, the BTC may shoot up again to at least 30K or 50K immediately even without the ETF money coming to the crypto market. After the money comes through ETF, it can quickly rise to 100K or 200K which is expected to happen either by end of this year or may be by Feb or March of next year.

leo23 posted:
But for long term Bitcoin is bound to reach at least 2 to 3 Million USD per Bitcoin within next 3 to 5 years or may be even less than that time period.

Once Bitcoin ETF approval happens, the BTC may shoot up again to at least 30K or 50K immediately even without the ETF money coming to the crypto market. After the money comes through ETF, it can quickly rise to 100K or 200K which is expected to happen either by end of this year or may be by Feb or March of next year.

I'm sure John McAfee is also on his knees and praying for this as well.

leo23 posted:
The price of Bitcoin is oscillating around the same levels what it was doing around at this time last year before the Bitcoin's future launch.

After the launch of Bitcoin future, the price was pumped intentionally to 19K within a matter 2 months by hype and media news to create a false sense of market crash for new investors. It was a conspiracy by banks and governments to keep the retail investors away from crypto space since a new investor or trader has absolutely no idea about the nature of crypto market in general.

So until we see another fundamental news event like Bitcoin ETF approval, the Bitcoin price may hover around the same level of 6K to 8K, because it is the average mining cost for one Bitcoin.

But for long term Bitcoin is bound to reach at least 2 to 3 Million USD per Bitcoin within next 3 to 5 years or may be even less than that time period.

Once Bitcoin ETF approval happens, the BTC may shoot up again to at least 30K or 50K immediately even without the ETF money coming to the crypto market. After the money comes through ETF, it can quickly rise to 100K or 200K which is expected to happen either by end of this year or may be by Feb or March of next year.

Till now, it’s around 6-7K (USD), don’t know when we’ll see such an impulsive move by the buyers! Hardly waiting for that.

Adribaasmet posted:

leo23 posted:
The price of Bitcoin is oscillating around the same levels what it was doing around at this time last year before the Bitcoin's future launch.

After the launch of Bitcoin future, the price was pumped intentionally to 19K within a matter 2 months by hype and media news to create a false sense of market crash for new investors. It was a conspiracy by banks and governments to keep the retail investors away from crypto space since a new investor or trader has absolutely no idea about the nature of crypto market in general.

So until we see another fundamental news event like Bitcoin ETF approval, the Bitcoin price may hover around the same level of 6K to 8K, because it is the average mining cost for one Bitcoin.

But for long term Bitcoin is bound to reach at least 2 to 3 Million USD per Bitcoin within next 3 to 5 years or may be even less than that time period.

Once Bitcoin ETF approval happens, the BTC may shoot up again to at least 30K or 50K immediately even without the ETF money coming to the crypto market. After the money comes through ETF, it can quickly rise to 100K or 200K which is expected to happen either by end of this year or may be by Feb or March of next year.

Till now, it’s around 6-7K (USD), don’t know when we’ll see such an impulsive move by the buyers! Hardly waiting for that.

This time the Bitcoin price move has not much to do with retail investors or traders.The majority of the money will come from big players in the market like large institutional investors and banks.

Such big players will not put money until a strong regulation is intact so that they can be assured that their money is safe. Because we are not talking about billions, but we are talking about trillions of USD to flow into the crypto market and hence, it takes a lot of time to do the ground work to bring proper regulation into the crypto market.

That's why many people are waiting for the Bitcoin ETF to be approved by SEC which will push the market like never before in the BTC price history. In fact, this is another conspiracy by the governments by delaying the ETF approval to create a feeling among people that crypto is dead etc so that people will cash out at loss and they can buy at low price. That's why many small ETF proposals are already rejected by SEC and they are waiting for the best low price to buy BTC and after that most probably the ETF will be approved and BTC price will shoot up like never before. We can expect this either by end of this year or by next year Feb or March.

Because last time many people bought BTC at high price levels hoping to cash out quickly once it reaches to very high levels and by now many of them might have given up and cashed out at loss. But if it will continue like this many more might cash out at loss and the governments and banks will get big opportunity to buy at low price.

So those who enter into crypto market with such mentality of cashing out quickly will definitely suffer. Crypto is not about getting rich quickly, rather it brings a paradigm shift in the current economic and political structure and hence, only long term HOLDERS of cryptos will win in the game and rest of the people will just suffer from hypes and false media news etc.

Because as I said many times in my thread there may not be any such thing like USD,EUR,GBP etc within a matter of 5 to 6 years of time and probably 80% of small and big institutions and daily buyers will be using only crypto currencies of their own and Bitcoin may be the standard for measurement of the value similar to USD now which is used as measurement of value.

Only an experienced person should trade in cryptos, who knows how to handle and is upto date with the crypto market. For beginners, they should deal in cryptos under supervision.

Crypto crash yesterday I bet that hurt a lot of people. I wonder if this is beginning of a big correction on crypto. Could short this all the way to zero!!!

FastAudi posted:
Crypto crash yesterday I bet that hurt a lot of people. I wonder if this is beginning of a big correction on crypto. Could short this all the way to zero!!!

The Dow and S&P 500 had their worst crash since February as well. You don't see a lot of equity traders complaining…
https://www.jfdbrokers.com/en/research/us-equity-markets-plummet-gbp-gains-amid-brexit-optimism

It's just the way the market works - when the markets crash people panic sell or sell to cut their losses.

Just take a look at the chart of the market crash from January/February and compare it to the BTC chart in the same time.
They are almost identical!

FastAudi posted:
Crypto crash yesterday I bet that hurt a lot of people. I wonder if this is beginning of a big correction on crypto. Could short this all the way to zero!!!

This sh*t happens all the time in cryptos. Still, watching the weekly and daily shows that BTCUSD has been trading flat for some time. I've experienced that flat market is a recipe for a disaster, in any currency pair! Maybe XRPUSD would be a better alternative? At least it seems to be moving. TBH, I have no idea how to trade cryptos.

Cryptocurrency differs from Stocks and Forex trading in various ways. First, unlike stocks and forex trading, cryptocurrency are not governed by any centralised authority. Price of cryptocurrency depends mostly on Demand and Supply. Second, Cryptocurrency trading market is 24x7 unlike stocks and forex which happens for some limited duration of the day. Hence cryptocurrency trading is more volatile too. Take a glance at the most important of [url='https://blockchain.intellectsoft.net/blog/consensus-protocols-that-meet-different-business-demands/']consensus protocols[/url] and you will see how it really works.

BTC dropped to 5276 (the lowest point after 18 oct. 2017.) It seems to be a bad signal. But I believe the grows will follow the down and the price become to 10k again before the end of this year.

iamjacobs posted:
BTC dropped to 5276 (the lowest point after 18 oct. 2017.) It seems to be a bad signal. But I believe the grows will follow the down and the price become to 10k again before the end of this year.

I doubt it will hit 10k this year but 6-7-8 is a possibility.

Which in turn, like I said in the other thread, is a good opportunity to make a quick cash flip.

TiffanyK posted:
good opportunity to make a quick cash flip.

Agreed. same view on this.

iamjacobs posted:
BTC dropped to 5276 (the lowest point after 18 oct. 2017.) It seems to be a bad signal. But I believe the grows will follow the down and the price become to 10k again before the end of this year.

Around 10K?? Now, the price is around 4K and I see, the sellers momentum is very high.

It has been a long time I didn't make a post regarding cryptocurrencies. Though I was busy with my own work, but one of the obvious reasons for this is because cryptos were still undergoing through a consolidation phase which arised due to the last pump and dump of 6K to 20K and back from 20K to 6K and then, to 3.5K.

There were many things which have happened in the crypto space which I am unable to keep a track of all of them. But most of them are positive, but not as much positive as to move the crypto market.

Now, there is some momentum being seen in the market. But nothing can be said until the strong resistance levels are broken like 10K,15K and 20K. But we may expect a bullish market if this time it crosses 10K quickly. If the momentum will slow down, then it can retrace back to 4K or below again. The most important thing is the short term momentum or volatility which was the nature of crypto, but it was almost dull or dead after the last pump and dump and was remaining flat for many months after that event.

But one thing for sure is cryptos and BTC are not going to die and they are here to stay. Most importantly cryptos are the future of money and all fiat currencies will be redundant within a matter of next few years. One of the example of such rapid growth will be by usage and adoption of stable coins.

I expect the stable coins to be popular in near future and hence, those people who are interested in cryptos should keep a eye on those. Currently, in my knowledge very few stable coins are there like USDT or USDC etc.

But I expect most of the fiat currencies will be rapdily replaced by stable coins like USD coin, EUR coin, GBP coin simply because you don't need to have a bank account to store and send those cryptos and there are no limit on the volume of transactions. You can send 1 Million or even 1 Billion USD coins from your mobile device to another mobile device from one part of the world to another part of the world.

But try to do the same using a bank account using wire transfer, then you will understand what I am taking that it is almost impossible to do such things using regular fiat currencies using wire transfers and banks etc. So I guess stable coins will give a doorway to make the cryptos to be popular soon and then, Bitcoin I guess will remain as king of cryptos followed by Etherium.

Another reason for the usage of cryptos instead of fiat is that you can program your crypto currency using smart contracts for commercial usage to automate entire companies which is not possible using fiat currencies.

Happy trading cryptos!!!

Leo; you are doing outstanding job (posting of crypto) by adding valuable words! But I see; mostly Forex traders aren’t interested on crypto; as I think; it’s really unfortunate!

AmDiab posted:
Leo; you are doing outstanding job (posting of crypto) by adding valuable words! But I see; mostly Forex traders aren’t interested on crypto; as I think; it’s really unfortunate!

Forex traders usually don't like crypto, because there is almost no leverage in crypto as compared to forex. But forex traders don't have any choice, because as I predicted before few years forex trading will be dead within few years since there will be no liquidity in the market when all fiat currencies will be dead and banks will be dead.

Because all money from forex will switch to crypto market. Since it is the banks who provide liquidity to the forex market and when there will be very few users for the banks, then liquidity will naturally dry out.

One of the early signs are like ESMA rules for europian forex brokers for leverage reduction and next coming behind ASIC brokers now and people discuss that forex brokers will be dead, but it is not true entirely. Rather forex trading will be dead and those brokers who will switch to crypto trading will survive and others will die.

Finally, it doesn't matter whether someone is a forex trader or not, because for day to day expenditures people have to use crypto since there will be hardly any companies accepting fiat money after few years. Those companies accepting fiat will have much higher fees compared to crypto and hence, people will naturally switch to crypto.

Also, now even while sufficient liquidity is there in the forex market more than 90% of retail traders loose money and when there will be no liquidity in the forex market, then 99% of traders will loose money except those big hedge funds using highly sophisticated algos for trading.

So Forex trading and traders really don't matter for crypto anymore since forex trading will be dead within a matter of couple of years. The quicker forex trader will switch to crypto, it is better for them. Because at least in crypto you can't loose more money since there is no big leverage available, but still you can loose in crypto as well. So I don't recommend crypto margin trading as well and I recommend only crypto holding and crypto usage.