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Currently BTC is going through a sideways trend so it may be buying at high and selling at low as you said buying at green and selling at red. In trending market same strategy may give you good profit. Try to identify the support and resistance zone in sideways market and prefer to buy at support and sell at resistance, you will see gain in your account slowly. Sideways market are completely different to trade as compared to trending market. Try to get knowledge about trading different trends.
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Unfortunately there is no way to identify any scam project in cryptocurrency space other than your knowledge as of now but I believe it is not possible to develop something to identify such scammers if community comes forward to do it. Scammers are sorrows of cryptocurrency world, they have ruined this market more than anyone else, they need to be isolated so that more and more money inflow comes in. Crypto market really need a good moneyflow to survive and grow.
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It depends upon the current financial situation of the holder. Currently all altcoins are trading at lower price and its not worth to sell anything right now but sometimes holders is forced to sell his assets to meet out his sudden expenses. Altcoins earned from bounty are easy to sell as no emotions attached to it but if someone has purchased anything at higher price then its difficult to sell the same at low price. Its only the need of money which forces anyone to sell his assets at low price.
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Its indeed a good news from French government that they are introducing Bitcoin and cryptocurrencies in their high school syllabus. There are many good news coming about Bitcoin and blockchain from around the world. I think we should give it enough time to develop. Slow growth in blockchain technology will last longer. Transactions through blockchain is cheap and fast as compared to conventional method, it is not controlled by any centralize agency. There are many benefits of blockchain technology it only requires some refining.
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Imagine a guy that pays a million dollars for a bread roll, while in the same time he can buy it for $1 at other bakeries. Such scenario would be crazy because no one would give million times more money for the same thing. That is why the above scenario is not possible in reality. But... in the crypto world, such scenario is exactly what can be observed.
In the crypto world people are paying million times more for bitcoin than for altcoins, even though these coins essentially have the same features as bitcoin. Functions and features of cryptos are pretty straightforward. Elimination of expensive brokers, lawyers, and other typical “middlemen”. Low transaction costs. Transactions are transparent, quick, permanent, and hard to fake. Cryptos that are priced below $0.001 have all these functions and features. But despite that people are paying thousands of dollars for bitcoin.
Of course that being the first in the industry and having reputation means something. For example, if a bakery has good brand reputation, consumers trust it, and feel good about purchasing its bread rolls, they might pay $2, $3, or even $10 for these rolls if competitors sell them at $1. But no one would pay $1,000,000, since they are just flour, water, and yeast mixed together. The same is with cryptos. They are just numbers associated to addresses that are transferred through the network from one address to another via some protocol. In that sense, bitcoin is equal to thousands of other cryptos. It is the same thing with different name. Accordingly, no rational reason exists for bitcoin to cost millions times more than an average coin. There is no reason for people to enter into fast, transparent and cheap payment system for $7,000 if they can enter it for $0.001. To put it differently, bitcoin is a mega-bubble, even at $10, and it is only a matter of time before it bursts.
The thread with the same topic discussion already exits somewhere on this forum. It is true that other similar blockchain like Bitcoin exist in crypto world and coins those blockchain is many fold cheaper than Bitcoin then why is the price of Bitcoin so high. I think it purely depends upon demand and supply. As far as people in my country are concerned, 9 out of 10 people know about Bitcoin but if I ask them about ETH, NEO, BNB or any other popular cryptocurrency I am sure only 1 person out of 10 people will recognize it and this may be the scenario everywhere around the world. This may be the reason Bitcoin is in high demand and its price is so high. |
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I believe Stoshi has developed Bitcoin purely with the concept of decentralization where noone in particular have control over Bitcoin. By revealing his identity Bitcoin may not be worth it is today as user around the globe may consider it something controlled by a particular company or a group of people.Stoshi may have some secret plan for the future of Bitcoin. There may be other reasons as well like he/she does not want fame or does not want anyone or any govt or private organization to interfere in his life. Real reasons only Satoshi can reveal.
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Trading is actually one of the toughest task to do. Many people say "Trend is your friend" but catching trend is again not easy, once you are in, managing the position is something that needs more more attention. Trading should be done with proper planning.
1. First of all you need to have some strong base to take a trade, what are the market conditions that make you to think to go long or short.
2. You should have already calculated risk and reward. What do you get if this trade hit TP and what do you lose if it SL.
3. Keep emotions out of trading.
Practice on demo or very small account, once you skills get sharpen then only come to trade a real account.
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Is it profitable to join the premium trading signal ?? I was offered by my friend to join him on the note having to pay a few dollars, I am still doubtful about this but I want to get into the premium signal once to find out the trade in it.
Premium signals are nothing,they just use your money to sharpen their trading skills. You may get profit for sometime out of such signal but its a bit difficult to have regular profit, if someone can really show you his/her performance for past few years then its not bad to join his services. Be sure to talk about maximum dd allowed in your account, that will save you from losing all your invested money. Stay safe while giving your money to someone to trade. |
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Imagine that Motorola - the first company which manufactured a truly wireless communication device in 1983, designed its production system so that it can produce only 10,000 mobile phones a year. Now, does that mean these phones would have been more scarce every single day because the population is almost required to increase its demand? And would that mean the price of Motorola phones will rise to $1,000,000? No. Why? Because people will simply associate and produce their own wireless communication devices, as these devices are just chips, resistors, transistors, capacitors, inductors, and diodes joined together the right way. And it s not only Motorola that is capable to put electronic components together.
In the same sense, bitcoin is just numbers associated to addresses. These numbers are transferred through the network from one address to another via some protocol. And it is not only Satoshi Nakamoto who is capable to design such paying system. This system is not Michelangelo's Pietà or Leonardo da Vinci's Mona Lisa. It is just numbers, addresses, database, and protocols. Everybody is capable to create that. So, no rational reason exists for bitcoin to cost 1,000,000 dollars. There is no reason for people to enter into fast, transparent and cheap payment system for $1,000,000, or even $10, if they can enter it for $0.001(altcoins) or if they can associate and design their own crypto payment system.
Bitcoin is simply a mega-bubble that diminished people's ability to think rationally. Bitcoin can only go down to the price of an average coin. Just like Motorola's phones have prices of average phones.
Edit:
I see a lot of responders saying I cannot compare Motorola as a company with Bitcoin. Well, I am not comparing the two. I am comparing limited supply of phones and coins by using an argument from analogy. This argument does not assert that the two things are identical, only that they are similar. The structure or form of this argument may be generalized like so:
P and Q are similar in respect to property x.
P has been observed to have further property y.
Therefore, Q has property y also.
In my example I assumed limited supply of Motorola cellular phones. Meaning, Motorola phones(P) and Bitcoin(Q) are similar in respect to limited supply(x). Then I made the second premise: limited supply of Motorola phones wouldn't lead to drastic price growth because people would simply produce their own cellular phones - they would simply produce their own wireless communication devices(y). And then the conclusion followed: limited supply of Bitcoin won't lead to drastic price growth because people will simply produce their own coins - they will simply design their own crypto payment systems (y).
And this is exactly what is happening with the inflation of altcoins - people are designing their own crypto payment systems. Simply, there is no rational reason for people to enter into fast, transparent and cheap payment system(Bitcoin) for $7K, or even for $10, if they can enter such system for $0.001(altcoins) or if they can design their own systems.
That is also the reason why Bitcoin is a mega-bubble and can only go down to the price of an average coin, and not up to the moon.
I am very positive about Bitcoin but your post made me think deeply about it. It is true that Bitcoin payment system is not something which cannot be developed by anyone else and current value of $8000 is more than high for a single coin of a payment system, On the other side I believe value of anything depends upon market sentiments, If demand increases, its value increase and same has happened to Bitcoin as well in late 2017. Let see what has been cooked for us in future. |
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If Paypal CEO is holding Bitcoin then this is indeed a good news. Paypal is an old and welknown method for overseas transactions and bullish sentiments from its CEO is surely a good news to share. As Bitcoin is a strong competitor to Paypal, its CEO may explore options either to connect Bitcoin to it or something else to compete it. Lets see whats new it brings to the crypto market. Lets hope for the best.
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Nothing impresses me much now a days in crypto market except a few projects for which I am doing bounties in a hope to receive some rewards out of it but most of the projects are not performing good. Crypto market is in boring stage currently, it really needs some spicy flavor to be added to it. Cryto market at current stage requires lot of money inflow and it is only possible if some positive wave about crypto market emerges. Lets see how much wait we need to do to see crypto bull run.
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I think trading with high winning rate is more important than anything else in trading. Margin trading can provides leverage on total value of coins you hold but until winning percentage is not high, margin trading is of no use. For me the 3 rules in trading are below ;
1. Never risk more than 5% of total capital in single trade.
2. Always trade with SL and TP.
3. Keep emotions aside before and after trade is taken.
Always plan a trade and remain stick to that plan, changing plan in between can lead you to losses.
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If someone is trading based on charts then it depends which TF is he trading. If trade is taken on higher TF like daily or weekly it should be hold for long time depending on target and stoploss, if the same trade is taken on small TFs like 1 hr or lesser, it can be liquidated the same as TP and SL should be lesser as compared to higher TF. For any other analysis. Average holding time for short target should be interaday to few days like 3-4 or 5 days, for long term holding it may be fews to few months and even years.
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I think quality of project matters a lot although listing of good exchange cannot be ignored. Listing project on small exchanges do not attract much investors resulting price depreciation but listing on big exchanges even does not guarantee price appreciation. I think we should do a massive research before joining any bounty campaign. What is the project concept, how experienced is the team, how much is their participation and where are they going to list, everything instead of just looking for IEO on bigger exchanges.
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I believe market moves in cycles and this belief of mine made me to be here till now. Every long run needs a strong base. I believe crypto market is making its base now. It is also true that with recent rise of Bitcoin price altcoins did not move but that may be due to investors not investing in altcoins as of now. Once Bitcoin reaches a decent level, money shall move to altcoins, slowly and steadily there will be new bull run in crypto market.
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With Bitcoin boom, cloud mining scams risen suddenly. Many companies came into existence overnight giving fixed return on Bitcoin . They shown increased value of Bitcoins on their website for investors. All these companies disappeared by mid 2018 taking taking investors money. Even I was about to invest in one such company as cloud mining was a new concept for me that time but thank God I did not invest. Fixed returns schemes are mostly blunt, we should do a deep analysis before going for such investment.
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I read this article online that the government could stop the Bitcoin? Easily using a simple trick. Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it. For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price. What is your opinion about this? Could the government do this? https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/Do you think controlling Bitcoin's price is in goverment's hand, not its not then how come any government can bring Bicoin price to $1000. I do not say that Bitcoin can not have $1000 price in future but that will not be driven by any government. Bitcoin is still strong and driving the whole crypto market, it seems difficult that Bitcoin price will go much lower. The people who really know the benefits of blockchain technology wil not sell Bitcoin at low price. |
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Cryto market is very new to all of us and we need to understand its behavior. Unlike other financial markets we do not get much margin in crypto market as it is highly volatile market. Normal market runs and there is litlle correction then trend continues, situation gets a bit different when there is trend change but things are entirely different in crypto market, trend change in this market may sometime be from $20000/ BTC to $3000/BTC. We need to understand its volatile nature. I believe crypto market is not going to vanish it will remain here,we just need to be patient, fortune shall follow us.
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  The same pattern for 2016 with 2019 First form an ascending triangle then fall and sideways rise up to a few percent and now form a falling wedge pattern I think support of $ 8300- $ 8400 is very strong, we will probably touch $ 12000 soon .. !! What do you think..? I actually did not notice it. I think this is a great analysis to predict some future movement of Bitcoin. Although it is not certain where would it move to still we need find the most probable moves. History repeats so does chart patterns. We soon may find a bull move in BTC price. Do not expect this bull move to come in few days or month, it may take 1 year, 2 years or more but it will come. |
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I really can't use BTC or altcoins to pay bills or purchase anything at my place. Cryto for me is still an investment option although I know blockchain is a powerful and cheap method to do any type of financial transaction. BTC due to its volatile nature is hard to be accepted as currency in my country, as as people are more concerned to save their money instead of taking risk to grow it and that is right as per their risk appetite. Lets see if things get changed with time.
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