I dont think there is any trader right now who havent lost at least part of his money to the volatility and manipulation of the market. People are more careful now and wont invest in anything as they were 2 years ago.
I have earned my crypto and traded. I guess I may have lost more than 30% of what I earned in these many years.
That is still pretty good if you ask me, many traders think that in order to be profitable in the markets you need to be incredibly effective with your wins and your losses and that is not accurate, as long as you can be profitable over the long term a few short term losses do not mean anything, and in fact I am in a similar situation to you, currently I have lost about 28% of the highest point my capital reached but since I am still in profits I am not worried. |
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In the Cryptocurrency space, nobody is out to hand you free cash for nothing, some people see free signals groups and they join without even asking themselves why it was created in the first place, for charity? I highly doubt that would be the answer if they bother to ask, people always wants to make easy money and would do almost anything to get it without thinking of the repercussions.
As for the paid signals groups, they evidently are not doing it for charity but have you stopped to ask yourself why they would be collecting that kind of small amounts from you when they have all the knowledge in the trading world? They could simply have used the funds they have to multiply their cash by buying all the best coin and making huge profits daily, without having to carry anyone along too.
When you begin to think about it it doesn't really make sense, but newbies never think about this, they are completely blinded by their greed and by their desire to make money that they do not really think through what they are doing and when you add that they do not have any knowledge about how to trade any market then scammers have a very easy time to deceive them and taking their money, it is quite sad but if you do not want to learn by reading you will have to learn by experience which is many times more painful. Fake gurus and mentors are all over in the market, they keep giving an wrong information and ideas. Most of newbies are encourage to follow and listen to fake gurus because of their greed. The still not have enough information how the market works. But I'm sure that those people who have signal group will regret their decisions. But even if they follow those gurus as you call them it will be very easy to disprove their status if they just compared notes, if someone asked the question of how many of those that have followed the guru for years have changed their lives thanks to him you will find out there will be no one that could give such an answer and that should be the first indication that all of what that person is saying is not true and it is only helping one person and that is himself. |
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I hate when people ask for bank statements. My face just goes -_- then it droops down on the sides as it melts. So much crap that they charge you just to check your account. Like say it out loud. Like ask the guy at the bank to just hear himself say it. How can they even tell people with a straight face? They basically charging you money for something that is free and something that is also pretty much made up. 100INR is just to churn a quick profit for themselves for the end of year bonuses next month. This is why I have always hated banks. Too damn nosey about my own damn affairs.
The banking industry is basically a monopoly and like any monopoly they feel they can do whatever they want, they always claim that your money will be better with them but as soon as you deposit your money with them they treat you like garbage and as if they are doing you a favour by storing your money with them but things will begin to change once bitcoin becomes more popular, they will literally beg you to deposit your money with them but at that point we will have not reason to do it. |
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The tech geeks adopting crytocurrency lately does not admire the technology behind the project any more but the financial prospect that will come from it. You should wonder what Jack Dorsey is looking for in the space, as a rich tech and not creating his own cryptocurrency as well but preaching bitcoin everywhere. We have a profit of over 4x from bitcoin alone this year, which can be seen in any project or stock in a short period.
Honestly, there's a truth in what you've said. Few years ago it was all about the technology when everybody I must say tells about how great blockchain technology was but right now, it's all about the value and price of bitcoin. I think that's normal because many are aware of the potential of blockchain and it's about bitcoin alone now. And we're moving on to the mass adoption which is happening today despite of the bad look of the market lately. It was inevitable that such change happened, in the beginning bitcoin did not really had a lot of value so most people had to concentrate on the great technology that it was and wonder if it could potentially change the world, now a lot more people have adopted bitcoin and its value has gone up and so there is a lot more interest in what the price of bitcoin is doing, but that is also because now there is no question about the potential of bitcoin to change the world that is not a question of if it will happen but of when it will happen. |
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majority of newly created altcoins now are just for money,meaning almost all of them are generic projects there are only very few that is running a new concept and original one.
these altcoins dont need to be here because many of them are just scamming investors and the outcome is those particular victim instead of staying here to invest is getting out and not putting money anymore thats why the real victim is the market and not those individuals.
I get your point, but if a person is losing money because he has been scammed then he's a victim no matter how you look at it, but the point that you bring is precisely what I think that the market of cryptocurrencies has slowed down in such a dramatic way, during 2017 it seemed as if the market of cryptocurrencies was very close to reach a breakthrough and that we will reach the goal of cryptocurrencies of being used everywhere in a very rapid manner, but the huge number of scams have decreased the enthusiasm of people in this market and it is why it doesn't recover. |
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Any trader with at least some experiences knows that trading without losses isn't possible. You can try to diminish losses and to have good straregy how to recover but sooner or later you will have to face the loss. There is no investment at all that doesn't have at least some risk and that always brings only profit. So, don't dream but face the reality. To face the loss isn't a tragedy, it's a tragedy if you don't learn anything from that.
That kind of thinking is what gets newbies in huge problems, they believe that there is somehow a magic formula that can make them get huge profits in the market without losing money and a few of them could be lucky enough to get a few wins without any losses and they may believe that they have found such formula, but then when the market goes against them instead of selling their coins and accepting a small loss they keep holding refusing to acknowledge that they made a mistake and that is when they experience huge losses. |
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Its a long time to predict bitcoin price .There will be many thing happen in near future to the world .But the way the price is rising from the past years it quietly predictable that it could go this level in the next five years .We just need to buy and full our bag in low price so that we can be profitable.
Yes, that’s true and I think an investor should not have any concern with it but they only should buy as much as can today then make a plan and hold their coins for the long term. It’s certainly about crypto to see the huge price but as always said we will have to show patience and wait until we get our target. In 5 years the price of bitcoin will be high enough to give us a profit of 100k dollars and from recent, I can imagine 100k dollars in 4 or 5 years. The dilemma for investors if bitcoin once reach 100k would be whether or not they should sell because it can further jump to 1000k or any extraordinary number. I have a friend of mine who was sort of an early investor and saved big number of bitcoins and when bitcoin was around 17k he got tempted to sell but did not because he thought price will go beyond 25k so that's a cycle and dilemma for investors if they should sell or not and when they should sell. The friend of mine now feel regretted but whenever I get a chance to talk to him, I tell him that everything happens for a reason and soon he might be selling his coins for over 50k each. Holding your coins is without a doubt very profitable but what you are saying is probably the biggest problems of that strategy, when to sell your coins? And unfortunately that strategy doesn't really tell you when to do that so it is up to each person to decide when it is a good time to finally sell their coins and get out of the market definitely or when to get into the market once again, and even if I believe that holding your coins is a great strategy you should learn a thing or two about technical analysis and then you can take better decisions in those two critical moments. |
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True. Common sense does play a big role. There are people who will see all the signs of what a scam project looks like yet will still fall victim to it by investing there. Common sense will make these people dump this projects before they get scammed
Common sense can be used not only for specific coins it can be used for the whole market as well, since the creation of bitcoin thousands of coins have been created and many coins have disappeared, the first coin created is still the strongest, the one with the highest market capitalization and the one that is the most popular so why people do not use their common sense and stop investing in altcoins and invest in the only coin that they know will be around during the next decades. |
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I think buying bitcoin to hold for the long term, now is the best option to buy at $6500- $7000, because at that price I think the last limit before the price of bitcoin rises even higher. and I see that at the price there is strong support that is difficult to penetrate.
Without a doubt there is a very strong support at 7000 and as soon as the price went below that level the market reacted almost immediately and recovered, but despite all of this the outlook of the market is still very negative, the recovery only lasted a few days and since then we have had three consecutive negative days and it is fair to ask ourselves if that strong support is going to hold if the bears try to break it once again during the next days. |
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Actually, the most people are not really interested in cryptocurrency itself, they are interested in getting profit. In 2017 we saw a great altcoin season when all the coins were growing which attracted many people to the cryptocurrency market. As we are in the downtrend at the moment, people are trying to earn money in other ways.
Without a doubt that is an issue, this market has gained the reputation of being great for those that like to speculate in a highly volatile market and while this is great for traders this is not really what businesses and what the average person is looking for, they are looking for a currency that is relatively stable that can be used to buy all kind of products and if we are honest with ourselves bitcoin is not there yet but I think that at some point in the future we'll get to that point. |
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any currency that wants to pass the test of time needs to have that characteristic and fortunately for us bitcoin does.
Bitcoin does NOT store value, it has zero value beyond what some greater fool will pay for it. Once that psychology ends, you will bitcoin price drop faster than you ever thought possible. The only reason people have bitcoin is because they think the price is going to go to the moon, and that they will get rich 💰💰💰💰 NO one is PRICING anything in bitcoin. Businesses that accept bitcoin do not really accept bitcoin. When you pay with bitcoin, what the business is using is a system that allows you to pay in bitcoin but instantly coverts your payment into US Dollars that they receive for their goods. The idea that bitcoin would be the future money was FALSE, and you are all about to find out that a lot of other big assumptions you are making are false. The saying " BLINDED BY GREED" exists for a reason, and the people in this forum are the perfect example of this 🙈🙈🙈🙈 Hard Facts Bitcoin is a store of value no matter how much you try to deny it, the argument that you are using could be used against gold as well, nothing is priced in gold, you cannot really buy anything with gold and yet the scarce nature of gold has made it the favourite way to store your wealth for thousands of years, the characteristics of bitcoin are similar except that it has many other advantages over gold, but you are right in one thing we are going to find out who was right soon enough. |
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for now I need to rest to follow ieo even ICO as to date I still haven't found the project I think will be useful if I invest there
I just waiting for them to start entering the Exchange trading and perhaps if it looks convince I will trade there with short-term
It is your own decision to do short term trade, we'll as for me I totally stop following Ieo/ Ico which I haven't found one a good project to invest. At first, they are good but the project cannot maintain the value in the exchange and some even failed so it is hard to invest to those both. And not wise to sell some stuff for Ieo/Ico. Most icos cannot mantain their value for the long term because there is simply no value in those coins, most of those that are investing in icos or ieos are doing it because they want to get rich quick, they are not really interested in the technology, the market, the community or anything else but their own pockets and while I am not judging them and they can do whatever they want at the same time that kind of attitude is not the best if what you are trying to do is to find a project that has a long term future. |
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Learn to trade with small capital it would be better if you are a beginner, avoid with large capital. When I first traded I only learned on YouTube about trading strategies and techniques, it really helped me, but indeed when entering the market everything was not easy as we learned, sometimes in the field it will be more difficult than learning. But we must dare to jump in and dare to lose for the first time, for that use the capital as minimum as possible.
Trading may seem to be deceptively easy and it is difficult to explain to those that are relatively new to the market how difficult it is until they experience it themselves, so it is important that whenever you decide to begin your journey as a trader you need to begin with a very small amount of money otherwise it is likely that you could lose it all before you learn all the lessons the market can teach you, and once you learn them you can finally use all your capital to trade. |
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I guess this is all for the control of the use of cash. You and I know that cash can be abused. In fact, it is already used by many criminals. Drug lords, terrorists, and other huge syndicates are mostly using cash. This is actually detrimental to the economy of the country in one way or another because by limiting the use of cash, the people will be limited in their spending and expenses. That affects the economy. This might really be another reason for the people in this country to use crypto instead.
WTF man? Do you want to make physical cash illegal just because a few criminals use it? And do you really think that criminal activities can be prevented if we replace physical cash with digital versions (either digital versions of fiat, or cryptocurrencies)? IMO, it will just have the opposite effect, as most of the crime syndicates have now found methods to launder cash using these digital payment methods. The real reason for this move is not to prevent money laundering and crime, but to spy on the citizens to find out from where their wealth is coming from, so that they could be taxed more efficiently. Agreed, this is about monitoring the citizens and what they are doing with their money, governments and private institutions are getting more invasive with their monitoring and we should expect that this gets worse as the century advances and the only way to avoid a world in which everything you do is monitored is to begin to resist it, and adopting bitcoin is a great step since even if you are doing nothing wrong we should expect to retain some level of privacy about our purchases. |
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bitcoin always has a surprise at the end of the year and at the beginning of the year, if you don't see it at the end of this year at least look at the beginning of next year, if you see that surprise, I'm ready to accept merit from anyone  And it seems we got a surprise but it was not what we were expecting, instead of the price going up as people have been speculating for weeks the price has been going down in a dramatic fashion during the last days, and today was especially a surprising day because the price was below 7000 for several hours and then we saw a recovery of the price, I do really hope that the price doesn't go below that but if it does we could be seeing a terrible end of the year for all of those holding bitcoin. Playing its price on 6k range isnt a terrible year for those who hold some btc into their stashes.As long you dont go for short term then you wouldnt really mind too much on your port. Its just been common to have these kind of movement as always here on crypto space.There would be dumps then recovery or even a shoot up in price then later on a certain correction happen then going sideways for long time then suddenly moves either ups and downs.As a supporter you should really be ready and prepared into such situation. If you are talking about the holders that have been in possession of their coins for years then you are right a price of 6000 is not really a problem for them, but we must recognize that they are an exception, I'm pretty sure that many people that are holding bitcoin today bought it when the price was above 10000 believing that we will see another all time high only to be disappointed once again, so holders like that are in trouble and if they begin to sell because of the panic then the price could crash. |
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The more the better. Why wouldn't you use help provided on the net if you can. Stuff like Newscrypto that have all in one place for traders are ideal for such situations.
But he/she should also avoid some fake or not legit news that will make people FUD. Because as a trader, there's also a FUD. But some traders don't really on news or any articles, some of them are in on technical sides, likes on chart, candle sticks, etc. Thst's why you are also correct, the more the better. Just beware on those fake articles/news especially. If you really into technical side, focus on it. This is why I prefer to trust in technical analysis than in fundamental analysis, anyone can try to create a fake news to try to move the markets and if enough people believe it then you are going to take the wrong decision just because you believed in a fake news, I prefer to watch the charts and let them tell me what they want me to do because at least when it comes to the charts if someone wants to manipulate the market they need to be willing to risk several millions of dollars to manipulate it and very few people can do that. |
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In the Cryptocurrency space, nobody is out to hand you free cash for nothing, some people see free signals groups and they join without even asking themselves why it was created in the first place, for charity? I highly doubt that would be the answer if they bother to ask, people always wants to make easy money and would do almost anything to get it without thinking of the repercussions.
As for the paid signals groups, they evidently are not doing it for charity but have you stopped to ask yourself why they would be collecting that kind of small amounts from you when they have all the knowledge in the trading world? They could simply have used the funds they have to multiply their cash by buying all the best coin and making huge profits daily, without having to carry anyone along too.
When you begin to think about it it doesn't really make sense, but newbies never think about this, they are completely blinded by their greed and by their desire to make money that they do not really think through what they are doing and when you add that they do not have any knowledge about how to trade any market then scammers have a very easy time to deceive them and taking their money, it is quite sad but if you do not want to learn by reading you will have to learn by experience which is many times more painful. |
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This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.
And this is a mistake, now with ieos many are trusting that exchanges are going to do their job and are relying on them to investigate the developers and the project, but exchanges with good reputation like binance are going to only verify if the people behind the project are who they say they are but that doesn't guarantee that the project is going to be a success, for that you need a good roadmap and good developers that know what they are doing and how to accomplish it, and those kind of developers are in very short supply. |
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Crypto is already booming. The price of Bitcoin does not need to be near 20k USD for the coin to be considered booming. Considering we struggled to even break 1k in the past, where we are right now is definitely a healthy place. We were at one point on the verge of mainstream adoption and then the giant crash happened when the bubble popped. This turned away the general public but not necessarily to the point where crypto isn't booming. Large financial firms are using Bitcoin, trade volumes are high, and the price is in a decent place so we're doing perfectly fine.
Agree. Massive adoption never comes quickly neither easy. Crypto definitely is the next big thing after the internet so, let's be patient and see what comes out. Excited for the future! This is something that I think as well, most of those that are in this market are very optimistic about how suddenly out of nowhere the adoption rate will grow up in a dramatic fashion, but I think like you, getting people to adopt bitcoin is going to be a very slow process but once we reach a big enough number we will begin to see many businesses that in the past refused to accept bitcoin adopting it because if they don't then they will stand to lose many of their customers. |
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I think its really part of there service charges. The banks generate income from service charges. Anyway, crypto has really give us convenience to see our balance outright. However, since its not yet regularized we cannot easily show it as proof of income in whatever purposes we need. We still need to undergo in bank's statements for purposes we need. Hopefully crypto or bitcoin can have that statement shown and approved by any purposed we needed.
Banks are the most corrupted company, even some banks have fee when requesting your statement of account, when in fact it should be available in your online banking, some banks have higher transaction fee too and you need to fall in line to deposit/withdraw. Really bad to see this, so, I am really using my earnings in crypto fo me to pay bills and for deposit that I don't need to go to bank and suffer falling in line which will take sometimes hour/s. Despite being in one of the most profitable industries around the world there are many banks that still have huge problems that go back to the 2008 crisis and that is why they are charging you for everything that you do, even for withdrawing your money from the bank, however now that we have bitcoin banks cannot longer abuse their position as much as they did in the past because if the adoption of bitcoin keeps growing more people are going to realize how easy and how cheap bitcoin can be compared to banks. |
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