Diversification: Spread your investments across different cryptocurrencies and assets to minimize the impact of market volatility on your portfolio. (.....)
I don't really agree here because you don't need really to diversify if you are just positioned on a good coin and good size, you will not really have a problem at all about diversification. The best example here was Bitcoin and other altcoins, there is some time before that I regretted converting my Bitcoins to buy some altcoins. I calculated, if I just held my Bitcoin, I got more profits.
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I believe this will continue to increase as the market cap of cryptocurrency continues to increase. The more money coming into cryptocurrency, the more illegal activities will be here, especially this money laundering. But I believe that's why the government started to become serious about this issue and they started to impose some laws regarding about this, and some cryptocurrency projects are affected like their being decentralized, because of this, which is really disappointing.
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There are a lot of issues like this on Twitter and different social media platforms. Most of these influencers are only for money, and some of them don't have any idea what they are promoting and it could damage their reputation, even here on our country, a lot of influencers or content creators already experienced this. I am worried about the next bull run because expect the issue like this will be more in public.
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The Most important factor in the adoption of Bitcoin is investment, which is increasing day by day. (....)
I don't agree with this. It's not mean you adopt Bitcoin, you will always threat it as an investment. At first, it is much better to understand how Bitcoin works and learn what Bitcoin can do and how it will help people, especially for the day to day living. If you are just here for investment, then you must even try to understand how Bitcoin works, because if you invest on things that you don't know, it's useless.
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I'm still new to crypto, but I want to ask you all, how to trade for the short term in crypto, so that our continue to be profitable..?
This is quite difficult to answer because there are a lot of ways how to become a profitable trader. But for me, you just need to be dedicated to your trading, you need to become patience, and stick to plan. Once you develop the above, you need to master it and practice it. Always also think that not most of the time is good to trade, sometimes waiting the another entry is good if you already late and always don't chase your losses.
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Yes it deserves, global adoption is a great ambition that needs many years, we don't know exactly how many, of course we should start with the circle around us to spread knowledge about Bitcoin. (....)
There are just some people who are not patient, and some people are greedy. Some people are only here because of money, which is very wrong. The essence of Bitcoin is not for money only. People must start to learn the really use of Bitcoin and the global adoption is the key for that, people also will become curios about Bitcoin.
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What makes an altcoin really trustworthy ? And why ? Please let me know your opinions. (.....)
It's already difficult now because even if you say "Market cap is the basis" there are still lot of altcoins that even how their market cap is high, at the end of the day there are still issues from them or some of them turned into scams. For altcoin, I really don't trust altcoins these days besides Ethereum, Ethereum is still here since day 1 and Ethereum maintained it's top 2 as the highest market cap. For me, what altcoins make really trustworthy is market cap + total value locked, especially on Ethereum's Defi platforms, there is a lot of money running on Ethereum, and most are on DeFi platforms and NFTs.
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What is the real difference between bull and bear market and how can one utilize them to make some good profits?
One good lesson I learned during multiple bull runs and bear runs I experienced before always takes profits. Since you want to make some good profits, always keep in mind that taking profits is always a good idea. Avoid marrying your coins, especially altcoins. As you can also notice there are lot of altcoins that are temporary, they only on the top during every cycle bullrun/bear run.
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How would people define a clear bull run ? 4 weeks of bullish candles clearing a previous LH on the Weekly or a new HH formed on the Weekly/Monthly TF
This is the most difficult question to answer. There are a lot of people that got different answers to this. Because it's difficult to predict the future price of Bitcoin or any other cryptocurrency, that's why some people can say "hey it's a bull run" when it's already late like Bitcoin price is creating a new all-time-high every day or week. For me, a bull run is when we already break all-time high prices.
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As questions swirl about how much cryptocurrencies will be worth in the wake of the spectacular collapse of the crypto exchange FTX and other major platforms, a key question has emerged: Who will keep your crypto safe? (.....)
This is one of the many reasons why the trading volume started to increase on decentralized exchanges (DEXes). There are already also a lot of derivatives exchanges that are decentralized on the chain, you don't need to create an account or undergo any KYC process, you only need your wallet. If you are worried about fees on Ethereum, there are already a lot of layer 2 networks or alternatives to the Ethereum network in which the transaction fees are extremely cheap.
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With change in algorithm and rising electricity bills can mining ethereum be profitable again in the future?
I rather buy Ethereum than other altcoins. If you can see the TVL of Ethereum right now versus other chains or networks, Ethereum is extremely far. That is the best example of why I believe Ethereum is good for the long term and is also safe. As you can see, around 59% of the whole cryptocurrency market is on Ethereum right now. And that 59% is around $29.18 billion as of now.
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(....) I want to know if it's safe to buy Bitcoin without having the basic knowledge of it ?
Bitcoin or non-Bitcoin-related investments are all extremely risky if you don't know what you are doing. Even though other people say this is safe, that is safe, it's still useless. You can't guarantee what other people saying, it's easy to say something. This is also the common mistake of new people who are entering Bitcoin or any other investment because they don't have knowledge of what they are doing. As famous sayings, "Don't invest in what you don't know".
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El Salvador will be the model for other countries about accepting Bitcoin as legal tender. I believe other neighboring countries of El Salvador will follow. It just a matter of time, I believe that neighboring countries of El Salvador are the countries will notice how El Salvador is doing when they start to accept Bitcoin as legal tender.
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Most people will say that the obvious bull run started are those people who missed the train still won't ride, lol. But, we can't blame them. They have their own perspective and opinion. For me, what happened in the last few months of the year 2022, was very sideways for Bitcoin, and at the start of 2023, we saw a huge move for Bitcoin started to break $20,000, and now Bitcoin is already above $23,000.
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2023 is the year I found my confidence in bitcoin as I have not check the price of Bitcoin for the past 80 hours, since I am now fully into long term holding giving myself, a timeframe of 2-3 years before looking back on the price but what I will do is to accumulate more Bitcoin as chances present itself. (....)
I'm not that really confidence in Bitcoin for the year 2023. Since 2024 the bitcoin block halving. That's the year I am more excited. I will not kill your confidence, but I am only confidence for the year 2023 is the last quarter of it or a few months before 2024 as the Bitcoin block halving is the most awaited event for me on Bitcoin.
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(....) If BitcoinBTC price moves above the $24K level, a rally to the $1000 mark awaits the buyers. The market sentiment is looking good to trade with an upside bias in the coming week.
Consider also the monthly candle is about to close. It's very coincidental that we experienced that pump recently hours before the monthly candle closing. It will also be very bullish for Bitcoin if it will manage to close the monthly candle above $25,000, let's hope that. We must still not be comfortable because if you zoom out the chart, on some cases or timeframes, we are still bearish.
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Your successes over the past five years: How well have you managed to increase the balance on your account during this time? Or have you lost everything? Tell me your story. (.....)
For me, what I can say is I'm not profitable when I am doing futures trading, it really sucks. But the good thing is I know how to manage my capital and risk management. Preserving capital is always important when you are trading, you need to protect always your capital.
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For me, if you are starting to learn. Go with the basics first, and identify the basics of trading. Like on every coin; identify first how trade works, candlesticks, and timeframes. What tools you can use, there are a lot of free tools on how to check charts, if you are already in some trading platform, they have their own tool for that, or some of them use trading view embedded in their platform.
Next, go with indicators, the technical part. Start with basic indicators, like volume indicators, momentum indicators, supports, and resistance.
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With Bitcoin breaking $23,000 level a few hours ago, I believe the next stop will be the $25,000 level. The next stop could be bumpy and very volatile, let's expect that also this pump above $23,000 is a good thing for me. Look at the monthly candle, it's about to close. So for me, there are still 24 hours left before the monthly candle closed. I am hoping we will close above $23,000.
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This is my first time hearing BKEX, lol. They are not really a big player in terms of Initial Exchange Offering (IEO). With this kind of exchange, I indeed don't trust them. Especially their trading volume is not that huge compared to some popular exchanges like Binance and Kucoin. Be aware also to some exchanges because it's already proven that there are some exchange who are manipulating the IEO for their own good.
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