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I find it really hard to predict cryptocurrency market as compare to other financial markets like forex, commodity, stocks etc. In crypto market there are sometimes pump and dump schemes so technical analysis does not work properly.In my views either buy any valuable coin/token and HODL it for long time or if anyone wants to trade cryptocurrencies then money management rules needs to be followed.One needs to look for opportunities to enter in market and make a proper plan to mature the trade, exit the trade as per plan instead of getting greedy.
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It is true that trader can make more money than holder, there can be a regular income from trading but problem is trading is not everyone's cup of team. Trading is not that easy, if anyone knows the right entry and exit point he/she can be millionaire in few months. Taking trade is easy but managing it very hard.All these skills are not required when you are holding something for a long time. Traders make more money but holders are more in numbers than traders as trading needs high experience with art of taking and exiting the trade at the right time.
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Bounty campaigns and airdrops are not in good shape currently, its not worth joining bounty campaigns for most of the projects. Most of the coins are low valued on exchange after launch resulting low payouts to bounty hunters. Even projects with good product and dedicated teams are not reaching their ICO price after their coin listing on an exchange. Bounty hunters should only fill their bag with coins currently irrespective of thinking about regular income from bounty campaigns. In future when there will be bull run all alt coins value may increase, just keep coins from bounty campaigns as an investment.
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I do not trust such news. I know this a big time manipulation by media and Indian media is known for it.Current Indian govt is focusing on digitization since the first term, even news is there that main bank in India may develop their own blockchain. India being a high populated country it is a bit difficult to stop crimes,as cryptocurrencies work on decentralize platform, its easy to use money transferred/taken in form of cryptocurrencies in some illegal activities. I think clauses say it if cryptocurrencies is used in any illegal activities, the accused will get imprisonment.Journos have manipulated this news for getting high TRP only.
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There have been a lot of posts questioning the rewards of campaigns in recent time, complaints about dev and team giving fewer rewards for campaigns. Many have eyes but cannot see, what is the use of huge rewards with no value in the future why you can be giving fewer rewards that will grow into something big if you can hodl, I will rather participate in a campaign with less reward and huge prospect than wasting my time overloading my portfolio with useless coins that will take me nowhere. If you really want to benefit from crypto, think less of what any new project can bring you new, think more of what you stand to gain in the future, be part of a good project. Don't be deceived by the promise of huge rewards that will deprive you of the future benefits which quality project can give to you. If you invest your time in good project today, even if the rewards look small, if you can hodl then future is certain. Be ready to sacrifice your today for your tomorrow.
It is not about more or less reward but it is about how strong the project and how dedicate the team is. Even some projects with less rewards are useless. I joined one bounty campaign called "Beasy" last year, they had total supply of 250000 coins, they finished their ICO, collected good amount but never launched their product, atlast that project turned scam although it was listed on Idex which was later delisted. I think instead of looking for reward we should look for the project concept and team's working. If project concept is strong and team is dedicated there are strong changes of its success. High rewards from such projects are like "Ice on the cake". |
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Yes bounty hunters are being cheated by every new project. In 2017 income from bounty campaigns much much better and one could have thought of adopting bounty campaigns promotions as their full time profession but now the time has gone and bounty campaigns are not a profitable business anymore. On an average out of 10 projects only 1 project is paying to bounty hunters and that too a small amount. Many projects turns scam after collecting investors money and many projects are just delaying their products. There should be some forum for bounty hunters rights.
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If localbitcoins is sharing all the information including bank transactions with the govt then it is definitely not a good news. I think removal of face to face cash transaction is not a big issue but tracking every online transaction on localbitcoins by govt is not good. All govts are behind the life of crypto hunters. I do not know if country like Japan can legalize crypto then why not others. Govts should concentrate on other illegal ways of money transfers instead of hammering crypto world. I hope time will change and we will have good time too.
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Hi Mark,
Its nice to see your trades, your technical analysis is good, you are able to analyse the chart properly. I am also a technical trader but I have not applied seriously on crypto as I did not find good volume anywhere except Binance, even on Binance many altcoins move like pump and dump. I have few questions to ask from you, if you get time pls answer these questions.
1. Which crypto exchange are you trading in?
2. Which crypto pairs do mostly trade?
3. Is there any option to set SL and TP in crypto trading?
4. Is crypto exchange providing margin trading?
I forgot to mention I trade forex market.
Hello mate! Thank you so much. Guess it would not be difficult to switch from forex to crypto, the principles stay almost the same. As for your questions, 1. Mostly BitMex & Binance 2. XBTUSD (=BTCUSD, that's how it is called on BitMex) - both futures and perpetual. ETHUSD (BitMex mostly). For a couple of month pay attention to BNBUSDT (Binance). These are the 'favorite' ones. But basically, I monitor several alts. For instance, TRON may have interesting turns in June. 3. SL and TP - it depends. As usually, consider: - Highs / lows, strong levels - Volatility - Volume - Pattern size P.S. Profit/loss ratio is recommended to be higher than 2:1 Personally I keen on trailing stops for a long time already. Tbh, crypto in terms of SL/TP does not differ so much from forex/traditional markets. 4. Yes. E.g.: BitMex - up to 100x. Many types of orders and just comfortable in use (personal judge). Bitfinex - up to 33x. Low commissions. Hope that would be helpful somehow. Feel free to ask more. Cheers! Thanks Mark for the detailed answers to all my queries, its really appreciable. I have tried crypto trade on Binance but never tried it on Bitmex. Thanks for sharing your experience about Bitmex, I will definitely give it a try. I agree to your point that basic principles of trading all the financial markets are same. Patience is needed to wait for the right trade. Chart patterns are same in all markets, you need to learn it. Plus points of trading crytocurrencies over forex is, good profit can be made in crypto market w/o taking over margin trades, Cyrpto market is open 24*7 whereas forex market is open 24*5, deposits and withdrawals in crypto are automatic and faster than forex market. Thanks again for sharing your experience of crypto trading. |
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Hello, I´m new in this Forum, but I´m studying and investing in BTC a few months.Now, the price of btc is 8,655 and I have doubts if I buy or wait. what would you do in this situation? Is it better to buy or wait? BTC   It is definitely a good time to buy BTC, it may get retraced anytime but currently Bitcoin is in bull run if you are investing for a long time. I would suggest you to invest your money in parts, buy some BTC now and if its value increases its your profit if it retraces then buy some more. Sometime people wait for retracement which does not happen and price goes on increasing and atlast they buy the coin at much higher price. Analyzing BTC demand I think its not wrong time to buy it, still would suggest you to do a deep research before investing you hard earned money. |
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There is a project called Hubrison coin of which is HBRS. It was launched on exchange on 1st May or nearby, ICO price of HBRS was $.03 but after its launch on exchange price reduced to 3 satoshi. Hubrison main product is still under development and its expected to get launched in next 20-30 days. Its a crypto wallet with unique features. Currently HBRS is not trading on any big exchange but team planning to get it listed on some big exchange with launch of their main product. I would suggest you to keep eye on this altcoin and if possible get some coins into your bag.
Pls note neither I am Hubrison representative nor their promoter, I am an investor in this project.
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Hi Mark,
Its nice to see your trades, your technical analysis is good, you are able to analyse the chart properly. I am also a technical trader but I have not applied seriously on crypto as I did not find good volume anywhere except Binance, even on Binance many altcoins move like pump and dump. I have few questions to ask from you, if you get time pls answer these questions.
1. Which crypto exchange are you trading in?
2. Which crypto pairs do mostly trade?
3. Is there any option to set SL and TP in crypto trading?
4. Is crypto exchange providing margin trading?
I forgot to mention I trade forex market.
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To be honest they aren't the two major countries at all ,that's true that they do hold an influence , but we already saw how Bitcoins suffered from just minor loss and then recovered during the ban in China , same will happen here too.
Also it's going to be banned or not is not yet confirmed in India , the fact is , it may be banned but trust me People will find a way to engage in Bitcoin , it's a democratic country in oppose to China thus people can submit plea against this decision.
It's not something that will influence the price that much , trust me.
Rightly said, BTC is not officially banned in India yet, yes there is restriction on buying and selling BTC on any exchange in India. There are still lots of buyers of BTC on P2P exchanges, one can sell BTC for INR at a good price. I think BTC price did not get affected after this of "Cryptocurrency ban in India". Somehow if govt implement this decision even then there will be much plea against it. So I do not see any problem in storing BTC here in India till there is some firm decision over it. |
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Trading forex is surely better for me than trading crypto. Forex market is very old and has high volume, being a technical trader I can very well read the forex chart and analyse it for possible future movement but I cannot do it in crypto, although I tried it but did not get that success. One plus point I see of Crypto market from forex market is that crypto market remains open 24*7 whereas forex market is open 24*5 means forex market is closed on weekends.
If one can really lean to trade crypto market then he/she can have good profit than trading forex market. At last I enjoy trading forex market than any other market due to its movement as per my tech analysis.
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As per my experience , this is not fake bull run. this will be bull run , but do not expect 50000$ per BTC. BTC double ,means from 4000$ to 8000$ went in a short time , last 2 month it drastically moved up. Now BTC will pump , after wards all the money will go to the ALT coins, they will pump up soon too.  Do not invest without research , your money your dedication. AS per my research Ziliqa Nano is good for investment. Completely agreed that this is not a fake bull run, Bitcoin is in possible bull run now but altcoins are not moving with much speed. I also agreed to the point that once there is good money from bitcoin it will get reinvested into altcoins, this has happened in the past as well. I remember late 2017 when Bitcoin rose from $1000 to $19000 in some months and there after altcoins started moving. I think history will repeat after 1 and 1/2 years, now Bitcoin is rising and after sometime we shall see growth in all altcoins. |
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Not only crypto but trading any financial market is very hard, be it forex market or stock market. Trading needs lots of patience and proper plan. Conditions of trading every financial markets are different. Personally I am not successful into crypto trading but if comes to forex market I have good winning rates of trades. Volume in forex market is very high and its easy to analise the market technically but in cryto market reading chart is not that accurate, I am sure there may be some way to trade cryto market successfully as well, we just need to explore those ways and practice it patiently instead of trading market on guess.
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Currently all altcoins are not moving much with Bitcoin price so as XRP. Current price range of XRP doesn't mean it will not move further.There may be price breakout anytime. I remember bull run of 2017 when XRP price increased from $.3 to $3.5 in few days. XRP volume is still very high, people still trust XRP. If blockchain technology is adopted by all banks in coming years,XRP may be widely used for international transactions instead of other platform. I think its too early to say that XRP is range bound and will not move further.
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Bounty campaigns are no longer a profitable business now. Most of campaigns either not finished or do not pay bounties on time,even if bounty campaign is successfully finished, coins are distributed and launched on exchange still it remains under valued, so doing hard work for 2-3 months for a project promotion for less reward is not justified. Bounty participants need to choose projects carefully, not all projects are worthless there are some good projects as well which have solid projects with dedicated team, bounties reward can good from such projects.
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Money laundering was also done when there was no online transaction, people find many ways to it. Carrying and delivering hard cash is very common method of money laundering. Blockchain technology may be like "ice on the cake" for people doing money laundering as funds can be transferred across the border without any limitations and there is no any transaction record for it. It may be a good step of verifying identity to stop such transactions but it is very difficult to stop money laundering. Some smart and concrete ways are the demand of the hour to stop it.
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Such high risk investment surely leads to high mental pressure. Increase in price may lead to good profit but the same time little decrease in price can lead to high loss. The first rule to any investment is " Only invest the amount which you can afford to lose" taking such high risk is surely not recommended. I do not know truth behind this story but if this is true then its really sad. The person might have luxurious life but high greed made him to take such extreme step. Any investment in any financial market should be done with calculated risk.
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Not every coin but most of the new coin are worthless. Many new projects are collecting money and running away, there is not further development and their coins are of no value. Recent bear trend in crypto market leaded many coins declining their value after their launch on an exchange as people were just selling and there was very less buying. Even good coins are losing their value but I think good project coins price will rise in bull market.
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