 65K Last year record price ever ! I think this year it might be full 100K Final bullrun for the coin. Why should you say a final bull run? If btc will last for many generations I would say that there's much more bull run to occur. More ATHs to expect from the market. 100K is possible. Next year would be a great time. So use this year 2023 to stay liquid as we are still in the bear market and engage when market is clear going higher. We got the employment numbers last Friday and they were very high. Employment is very tight. Not good for inflation. Good for stocks because earnings will be up but not for the fed rate decisions.
Our next CPI is estimated to come in at 0.6% which obviously is not ideal. It’s 6-7% annualized which is far from the 2% target. If there are no more bank failures and inflation stays this high then we might get more rate hikes and not good for stock or crypto.
Let this be a reminder to not have a long-term sentiment using a short-term or daily analysis. But I agree on the if and then scenarios. That's probabilities and how a trader or investor should react. That's how market works. |
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For newbies in trading, you need to understand that the crypto market is a speculative and not stagnant. It moves up and down known as bull and bear respectively. Incase you don't know, now, how trade happens is when one buyer is speculating up another can speculate down and the exchange happens on the trading platform. For example when the price of btc is $28,000, someone is speculating it further to buy to $29,500 and another can speculate it to sell to $26,000. So depending on your chart and analysis, that determines your winning strength if you speculate rightly. Trading is speculative based on your technical analysis, indicators and fundamentals (news).
What do you think?
Trading is simple. It is as simple as a transaction of willing buyers to willing sellers. Both can demand or ask for their desired price. The orders for both sellers and buyers are what you call liquidity. When the transaction is complete, that's what you call trading. Where it occurs is what we call it marketplace. The more liquid the asset is, the better the market. That's why Bitcoin is too great to trade. Its volatility. Trading Profitably is what's difficult. You have to find your niche, find what works for be it fundamental analysis or technical analysis. Both can be profitable going short or long at the same time depending on their strategy. As long as you have the right mindset and psychology and you can implement your trading plan consistently, you can have profitability in the market. That's how you create your own luck as a speculative trader. |
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What is the riskiest or most unconventional action you have taken in order to purchase Bitcoin during its early stages, despite the lack of guarantees or promises that it would appreciate in value?
I first encountered bitcoin when it was on 30K and witnessed it get into its top in 60k. I get in when there's a lot of hope and BTC is already appreciating value and with enough study, I have no problem of trusting BTC and risk my money on it. But about my experience? taking risk is essential, the biggest lesson is winning fast, and losing it faster is what happened to me. Investing the money I am willing to risk should be the first thing I consider in the first place. |
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Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.
Whether people hold the same conviction or not, they're right. It is true that BTC is riskier than normal currency or other risk assets such as stocks because it is more volatile and moves faster in the form of price. There is no tangible proof of BTC but electronically which also many people take it as a scam as they compare it to gold. It is likely to be use by criminals, because as you know BTC doesn't need central regulators. Just P2p. But if put into good use, BTC is a great tool. There are both advantages and disadvantages. Both extreme profit and extreme loss, hence give a great deal of risk. |
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Every day I think almost twice a day and I began to ask myself if imagination can be real? At first I will be having the mindset of positive thinking and sometimes I see those thoughts as negative one, one day I seat alone and began to ask myself that what is the way people who made money and who are firm started their life and what role did this people play before they make money, if I should follow the method some people can I arrive to same point with them, and after sometime my instinct derive me to another point by saying not everyone will scale true through one root, do you know that I'm devastated concerning investing sufficiently in cryptocurrency or using fiat currency to invest in something that will continue to give me fiat. Already I have other investment's but I'm pushing in a direction that will give me more fund's so that I will not deviate to get what I want. Can imagination of thinking big come pass. Theirs one edge we use in my area, cut your Coat according to your size. meaning, do things in a way it will not affect you or bother you.
If here is not the rightful place to post this, mod can help to place it to the appropriate place.
What you focus on you will get. Once you know the power of your words, you will not just say anything. If you know the power of your presence, you will not go just anywhere. I also believe in the same thing, if you are persistent enough to do what you know you should be doing while maintaining your faith that if you do it long enough, you will get what you want in life. I would say not to get discouraged by momentary failure. You might get devastated concerning investing sufficiently but if you continue implementing your system consistently, you will get what you want. Be patient enough for the right opportunity to show up. Don't compare yourself to those whose already successful because you have different timelines and opportunities ahead. Just continue to do things in a way it will not affect you or bother you. |
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Technical chart patterns are a popular analytical tool used by traders to identify potential trading opportunities. Analyzing chart patterns can provide valuable insights into market dynamics and the behavior of buyers and sellers. I wanted to share one of the articles about the bull flag pattern and how to use them effectively. Here is the source where also you can find other chart patterns. What is the Bull Flag Pattern?The bull flag is a bullish pattern that forms when the two upward price movements are separated by a short period of consolidation. The initial spike in the price is vertical, catching bears off-guard as buyers take over. This rise is represented by the flagpole. After the flagpole, usually, there’s a retracement that forms a rectangular shape, with two parallel trendlines connecting the highs and lows which called as Flag Pattern.  The breakout occurs when the upper resistance trendline is broken. This often leads to another uptrend move with prices surging toward the high of the formation. Is the Bull Flag Pattern a Continuation or Reversal Pattern?Bull flag is generally considered to be a continuation pattern. It signals a pause or consolidation in a bullish trend before the price continues to move higher. When the price breaks out of the bull flag, it often continues its upward trend, usually with high trading volumes. It is generally not recommended to enter a trade at a random price in hopes of an extension to the upside. Instead, traders should look for either a break of an important resistance or a pullback.  ETHUSDT H4 - Bull Flag Pattern How to Identify a Good Bull Flag Pattern?In order the identify a good bull flag pattern there are some guidelines traders can follow. The bull flag pattern is a chart pattern that occurs during an uptrend. Traders should look for a sharp and quick price rise (flagpole) followed by a period of consolidation (flag) that is bounded by two parallel down-trending trend lines.  EURUSD H2 – Bull Flag Pattern Another characteristic to watch out for is the downward volume trend during the formation, however, diminishing volume is not an absolute rule. The breakout from the flag pattern should occur on high volume and confirm the continuation of the uptrend. The strength of the bull flag depends on how sharp the initial price spike was in the flagpole. During the consolidation phase, traders watch out for the price break up through the upper trendline and make a new high since it shows the bulls are in control again to push another rally. Where to Place Target and Stop Loss?The target can be placed by measuring the distance from the start of the sharp price movement (the pole of the bull flag) to the point where the pattern’s lower trend line ends. The stop loss can be placed below the lower trend line of the pattern. And you should aim for a risk-to-reward ratio of at least 2R. (for every 1 unit of risk you expect 2 units of reward).  GBPUSD M30 – Bull Flag Pattern ConclusionThe bull flag typically occurs in an uptrend, characterized by a sharp and rapid increase in price (known as the flagpole), followed by a period of consolidation forming a flag shape. The volume is often in a downtrend during the consolidation phase, although this is not always the case. Traders should keep an eye on the price action during this period, looking for signs of a breakout above the upper trendline and a new high, which would signal that the bulls are regaining control and could push the price higher. Traders can achieve better results by using the pattern in conjunction with other technical indicators. and the truth is, you don't trade the pattern, you still need to trade what the chart is telling. blindly following a pattern would make you prone to overtrading because you might fall into trading every bull flag that you see in the market. There is a quote, "Your entry pattern is not your trading system". However incomplete, above is absolutely a sample of a system. I like how Op discussed risk reward, where to put stop and target (which is really important), correlation with volume, and suggesting to conjunct with other indicators. Experience is great determinant here on trading the patterns successfully. It is knowing when to trade and when not to trade every pattern you see depending on the market conditions. |
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Those that chose below $30000, bitcoin has disappointed you  : Bitcoin price guess, 2023. For those of you that have not chose anything, you can still partake in the poll. What are people talking about now? This is according to what I am hearing, that bitcoin rise from as low as less than $4000 to almost $14000 in 2019, that the highest price bitcoin might increase to this time may not reach $40000 because all-time-high is $69000. We are still around $30000, that bitcoin may increase up to almost $40000 Let us continue the fun of monthly price guess. What did you think will be bitcoin highest price in May? Price may get choppy or consolidate in the month of May. Historically, this month is bad month for most institutions and investors. So we could expect lesser volatility in the market because large funds or "whales" are derisking from their assets and so their put it in their liquidity or stable coins. It's the narrative of financial not in crypto but to the world. When interest rates, wars, and crises, put a perspective of positive then we could expect also a positive impact on economy and so to the prices of risk assets. All in all, as long as BTC serves its purpose, usefulness, and tools aside from being a reserve currency, BTC will remain bullish in the long term. |
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I don't know what you mean about food crisis other than price increases. Where I live at least there have been no shortages. In that sense the food crisis would fall under the global inflation crisis that was exacerbated by the Ukraine war but started before that due to massive printing and restrictive fossil fuel policies.
Sadly in our country, it's not the case, Philippines is rich in agriculture, land and muck more resources than emerging countries yet for every month there is always news coming up telling us that there is again another vegetable and goods that are out of supply. It's the system and distribution I believe that is not effective. Otherwise, they maybe just using the news to drive people emotion and put scarcity into their minds. |
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In most part of Africa hardware wallets are not only difficult but expensive to get apart form using custodian wallets like trust wallet and metamask is there an alternative software that can help hodl Bitcoin in a flash drive. or otherwise
If you want to invest your funds and coins, it is also a MUST to invest in a wallet that will secure it. Yes, you can use a written program with a custom key to keep your funds but there is no assurance that it is truly secured and be compatible with computer software and programs in the future. Take note that this is your fund and you are the one accountable for its probable loss. So whether you invest in expensive but secured hardware wallet, use custodian wallets, or rescript programs, just make always ensure the security of your own funds. |
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How to Equip Yourself with Essential Knowledge to Succeed in the World of Cryptocurrency
As the world becomes increasingly digitalized, the importance of financial literacy, especially in cryptocurrency, cannot be overstated. With the rise of Bitcoin and other cryptocurrencies, it is crucial to be knowledgeable about these assets and how to invest and manage them wisely. However, the question remains: what is the role of education in financial literacy?
While some people believe that hands-on experience is the best way to learn, it cannot be denied that education in economics and finance can provide a strong foundation for success. Higher education can teach valuable skills such as critical thinking, data analysis, and risk assessment, all of which are crucial in the world of finance and investments. It can also provide theoretical knowledge that one would not otherwise acquire through everyday experiences.
On the other hand, some argue that education in finance and economics does not necessarily equate to financial literacy. They point out that many successful investors are self-taught, and that practical experience is the best teacher. Moreover, they contend that education in finance can often be expensive and not accessible to everyone.
Despite the differing opinions on the role of education in financial literacy, it is clear that individuals should seek out knowledge from a variety of sources to best equip themselves to succeed in the world of cryptocurrency. This can include following cryptocurrency news and social media, reading books and blogs on finance and investments, and seeking out practical experiences through investing and trading activities.
There is almost unlimited information today to educate oneself about financial literacy. Be it on social media, news, or in day-to-day experiences. However, the most crucial part would be gathering the right information. Most people are flooded with knowledge but lacking wisdom. they know what they do on their own finance and business yet they don't do those things. It is having the right mode and correct information about financial literacy and applying it to everyday life. That is how self-thought millionaires and investors do. They don't need higher education, they are just disciplined enough to do and apply the right things in their life. Money is a great tool to obtain freedom. But a person equipped with the right information and applying it to their lives is an asset. |
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Shrinkflation is practice of reducing the size of a product while maintaining its sticker price. I hate it when companies reduce quantity (and often quality too) of product to sell it at same price as before to combat inflation. Oh and don't forget those, "30% Extra" labels. Inflation makes everything rise, so might as well keep the original quantity and just increase the price. Do you agree? How would you combat inflation if you were running a company? Yes! but it's just the company's strategic campaign despite shrinkflation. They instead use it to their advantage. It's actually true, due to shrinkflation, products typically lowered its quality, be it on size, weight, and other indicators. With that lowering the cost of production but still maintaining the selling price of any product. At first, it will be unnoticeable but it's the truth. Companies rather fall into shrinkflation and lower their quality to keep their customers because of the price than to maintain the quality of the product but raise the selling price. |
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Hello everyone To do spot trading on Binance, you can use the "Convert" tool with a $0 fee (in market or in limit). My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees? Thanks Every transaction in Binance has fees, unless you're using Binance coins such as BNB, BUSD then there is always be like hidden fees. If you try to review your transaction cost and history, you will be able to see it. The convert tool is very convenient when exchanging your small amount of coins for another coin and mainly Binance suggests and advertise that you would convert it to BNB without transaction cost. Spot trading is ideal when you do analysis and have a preconceive price. You can set and demand what price you want to buy and sell. In spot trading, the volatility and liquidity of assets you are going to trade are crucial. |
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Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.
Wars affect bitcoin prices in a way that it put fear on the funds of investors and derisk their money from their investments and convert it into available cash in case of the worst case scenario. Then it will start to set bearish prices on BTC and other assets like stocks, gold, and indices. Sometimes wars and high-impact news also serve as manipulation in the market that will cause a false move and fluctuation in price swings. When OP state that Bitcoin seem to remained statics only implies that BTC is in a good stance because despite of negative global events, BTC still finds another support level to remain in a good spot to buy and invest in the long run. |
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Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.
putting a not much money and expecting it to multiply 4-5x right away is a bad idea and expectation approaching the market. Keep it for yourself right now and educate yourself first as to how and where you better put it. The best time to invest is when you no longer look for other people's advice for your own financial decisions. It's your money. It's your fund your putting into risk so why taking others opinion. Create your own conviction first. It's no the doubling or tripling of the Bitcoin price. It should be surviving and preserving your capital is the most important. |
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Every 4 years, we expect bull market just because of halving. What do you think when is this chain is going to broken? Ie, halving no longer equals that bull market is coming.
It's not important whether that chain of "halving equates bull market". It's only one fine line of perspective. There is a lot more dimension as to how price is trading. Yes, halving is a fundamental part of BTC and sets an outlook of bullish prices because it will affect the mining of BTC within the limited supply. It still lies down to the purpose and use of btc. As an asset and as a reserve currency. As long as people see Bitcoin, it will remain on the positive side. |
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Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them,
* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day.
* Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly.
* Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin.
I don't if anyone have more to add, so I can also learn?
Trading is a 3 way system. The way you see the market. The way you trade how you see. And more importantly Your psychology of how you take the results of your trade. Unless you are equipped with the correct skill and character in front of the market, you will lose your money regardless of how big or small your account. If you want to learn something, learn the right thing and in the right way. Focus on the right way of trading and not on the mistakes. 1. Have a plan that works for you. Not the plan that is better than the next guy but the best pla for you. 2. Have the ability to consistently execute the plan. Wait when your analysis told you o wait, buy when it told you to buy, take profit when it told you to take profit. The journey will take a lot of time, persistence, and discipline. You don't need money. It's easy to find investors when you hae the right skill. |
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This discussion is not about gambling, it is about investing, but I will use gamblers to make an example.
Using gamblers as an example who start out with just the intention to have fun maybe and then along the line turn into addicted gamblers that gambling begin to affect other areas of their life like their wellbeing like they stop spending on some important things just so they can make money available for gambling. Now talking about investing, I think it is possible to become addicted to investing so much that it begins to affect your wellbeing, like the person stops spending on other important things like good food, good clothes etc. just so they can have more money to invest? Do you consider that kind of addiction dangerous and not good?
It always comes down to how you see things. As how you explained it? there is nothing wrong. But when share your insight how you see it, it gets worse. If you see investing in that way, you will absolutely lose money because you will fight your own belief about investing that you won't be able to follow your plan. I advise that if you would invest, make sure that it won't affect or downgrade your day-to-day life. It should be something that gives you assurance that in the long run, it will serve as your safety net as you hedge on an asset over inflation. It just falls into your mindset and how you see it. Investment is good if you use it wisely. And you can only use it wisely if you see it as a good thing and not as a form of addiction. |
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Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.
Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.
I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.
That's hilarious!, the worst thing you could do is to introduce your friend in trading futures! hahahahah. He probably now using the max leverage available to get most profit he could have. Your friend will absolutely learn his lesson the hardest and most expensive way. But! if he is really persistent enough he will take that lesson and move forward. Learn more about trading and improve his system along with himself to really make trading work from him. You do not need to worry yourself. All things will come for a reason. |
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I've read from some forum members expressing Sentimental analysis wrongly, hence the need for me to explain it today. Perhaps, it could be useful for some people in theory and in practice. Basically, there are two types of analysis, and they are Technical and Fundamental analysis, however, they will always be the only true analytical types in trading. The sentimental analysis on the other hand relies on what other traders have analyzed and concluded through Technical and Fundamental analysis and research. To make it clearer, Sentimental analysis is the act of sorting for or collecting established signals, data, market biases and commentaries of other traders/experts. This happens mostly when traders don't believe in themselves. They might want to solely rely on the external signals/data they trust or use them to confirm their own analysis. The screenshots below should give further clues:      Does Sentimental analysis work? Yes, it does if used rightly, and I'd used it before getting to my present state in trading. All you need is to find the right channels for your information and you will be fine. The people using this analytical type can collect as much as possible data for a particular asset before they eventually use the ones with the highest number or percentage in a particular direction as their chosen signal/bias. Image sources: Online (Investing, ActionFX, FXSSI) Sentimental analysis is basically finding relevant and more importantly a piece of objective information that you can correlate to your type of trading. It is true that if used correctly, this will give you an edge over your trading. It is a double edge sword. What's difficult in this is your dependency on the channels you are gathering information. How much trust can you put on other people's analysis? As long it is true, as long as the information you get is helpful and beneficial to your trading, then simply use it. And don't use it as your signal, use is as an information to come up with your own decision. Otherwise, you're gambling other people's analysis. In bitcoin trading and looking it from the general perspective, both the fundamental and sentimental analysis were both required for a proper trading experience, one cannot rely on one against the other because they were both useful in making market strategy and speculations on the price, one thing we may not get as an assurance is the use of any of these analysis as a guaranteed means to predict right and always make positive outcome with increasing income, everything though work together to make the market favourable and to aligned to the direction of how we've seen it already.
Absolutely right! Not because you use many things in your analysis means you will have great returns in your trading. Analysis and Trading are two different things. The main goal here is to get in line where the market is likely to reprice and as a trader you have to capitulate that move. Trading is simple, and that's also what make's it hard. Its simplicity. |
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