Bitcoin prices have been in a free fall and dropped to a low of $5,860 a week ago.
It meant it dipped below $6k for the very first time since October 2017. Cumulatively, BTC has lost 70% of its value in 2018 and the peak of $20k on December 17 is just but a stat now.
The quotes stated above are true, which do not in any way imply that bitcoin is dead. The price of bitcoin, had a massive increase in 2017, which i believe is getting corrected, because each time the price tries to get to 10k, it does find its way back down. Reduction in price, does not actually mean death. |
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The essence of trading, is to actually make profit on your investment. Buying low and selling high seem to be key in trading (which i usually adhere to) most of the time. I see cryptocurrency as a thing of the future and so, will always have the tendency to rise back up after a certain dip. It is only those that engage in panic sales that encounter losses.
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It is to no doubt that bitcoin has had a decrease in price in recent times (which is being represented in the chart). It almost broke the 6k support range, which was immediately regained. With this, i believe the market is heading in its upward direction.
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The world is fast evolving and cryptocurrency, being a new innovation that uses the blockchain technology, operates differently from the usual, which is why i tend to invest in it. I see it as the future currency that would be adopted for usage in the near future.
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Cryptocurrency at large, is facing a regulatory challenge, which is why most governments are not in support of it. If it eventually gets banned by governments, mandatory laws will be enforced in such a way that, penalties would be given when such laws are broken. In turn, this might reduce the value of bitcoin and likewise, the usage.
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There is no such thing as perfect trade, as far as trading is concern. The market is a dynamic market that cannot be predicted in all certainty that a trade will occur in a particular way or manner. Trades are sometimes negative, even after most analysis are carried out. The essence of trading should be to maximize profits and minimize losses, in order to have a 'supposed' perfect trade.
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In my own opinion, the best time to buy in a crypto trade, is whenever i see market price settling in its support range - reason being that, at that range the price should (in anticipation) start going up in a favorable direction.
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It is to no doubt that most people always want the market to be in a bullish direction to make profit, most especially when they are in the market. They therefore, tend to panic whenever there is dip.
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Observing the current situation of the market with respect to price, i think the value of bitcoin could get below $5,000, because in my own analysis before now, i thought the market had a support at a 6k - 8k range, which has now been broken.
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Hello,
Would it be possible to make 1% of your capital every day?
This would be 30% in a month, this is a lot.
It really comes to your capital:
1% of 100 would be 1$ daily, so 30$ on a month.
1% of 1000 would be 10$ daily, so 300$ month.
...
Is trying aiming at 1% daily too much? to ambitious?
In trading, risk management ought to be a necessity that should be applied on every trade. Aiming at a 1% daily on your capital, is really not a bad idea, which to me is kind of conservative. But this can only be achieved when you have a working strategy that can earn you a 1% daily, without it being altered. |
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Buying and Hodling is actually a good practice, most especially when the market eventually goes in your favour. Setting a time to buy is paramount, which is why it is always advisable to buy at best prices. In my own opinion, the best time to buy and hodl should be when price hits a certain support.
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The market being dynamic in nature, is affected by various factors - which could either be positively or negatively. In most cases, it can be analyzed that the facts that affect the market negatively will also be the same factors that will affect it positively, when it is in reverse form.
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Looking at the price of bitcoin in recent times, it can be said that the value of bitcoin has actually depreciated as compared to the value it was before, due to some certain circumstances and factors. It also can be said that the market has an up, down kind of movement, which leads to the tendency that the price would go back up.
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I would like to say that whenever there is a panic sale, it does mean that emotion was involved in that trade, which is actually not the best practice. Having a working trading system which had been tested overtime, should be, to a certain level of degree be relied upon, in order to avoid the occurrence of panic sales.
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In recent times now, there are lots of ICO's coming up this days with little or no potentials and as a matter of fact, some are even scams. With respect to when to buy, it is when the price is at it's minimal value, because I've actually had my fair share of experience buying at a supposed high value which eventually came down drastically.
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Having said all that needs to be said, regarding the growth of bitcoin - both in optimism, anticipation, and in speculation, i am still with the opinion that, there would be a rise in bitcoin, likewise other alts, when there is a global acceptance of cryptocurrency, which will in-turn increase the number of investors in the market.
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As far as the internet is concerned, hacking seem inevitable. In recent times and in times past, hacking of bitcoin and other cryptos has been a thing that has had a negative effect on cryptocurrency in general. Despite the fact that it is inevitable, it can also be curbed by taking certain measures.
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