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When there is an involvement of money, emotions come naturally. It requires practice and patience to trade without patience. You need to be sure about your trading skills. Else you will be trading under emotions and there is a higher probability of panic selling or getting caught in a FUD.
For becoming confident of your trading skills, try to learn technical analysis.
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This is a type of market where if you are not so well versed with technical indicators and trading, invest and forget for mid term duration. But if you are good with technical analysis, go with day and short term trading to reap the maximum profit out of this market.
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ETH is still a good investment regardless of the dump it is going throug. Almost all the currencies are in their all time lows. ETH is a good investment because of its use case in smart contract, a good team behind it and a huge community support. Any coin needs these 3 things to be successful. So yeah it is a good time to invest in ETH.
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ICO don't require a product and just an idea. Because of which there is a high probability of scams. Most of the fake ICO launch bounty campaigns for advertisement so that people fall for them and end up running with the investment amount and not the paying the bounty hunters. Cryptos being decentralized is prone to scams. So, invest and choose wisely
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Where XRP is a inflationary coin, ETH has infinite supply. So such price fluctuations and one beating the other will keep on happening. Both of the coins have almost equal popularity in the community. But XRP is bit more popular in Asian countries which gives it more boost and explains why it reached at par with Eth this early.
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Btc will stay the best buy in cryptos market unless some other coin replaces it in terms of market cap and popularity. If we see long term, in 10 years, BTC has given unbelievable returns. I agree that we might not find such returns again, but still it has a capacity to give better ROI than other investments.
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It is mostly the community sentiment that moves the price. But lately the manipulation in cryptocurrencies have increased which is a also a factor to move the price. But nowadays unlike previous years, news have little or no effect on prices.
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Not yet over, but many institutions are expected to enter the market by the year end which is likely to bring a bullish wave. We are approaching the year end and the usual market sentiment is bullish. We will soon see positive price rallies in coins.
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I agree to this. People here in cryptos usually look short term and easily panic. Most of the investors here are in for quick profits. But how quick? You can't be a millionaire in just a few weeks. Cryptos have been bullish when you look long term charts. They still have better and bigger returns than traditional market and that too in short term. Patience is the key when you don't know much about technicalities and hence can't do short term trades.
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I believe with more countries preferring cashless and digital economy, cryptos are here to stay. I am not really worried about the future of cryptocurrencies and their widescale acceptance. I am.more worried about the mess which has been created by shit tokens. These shit tokens are the reason why people think twice before investing.
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But still Bitcoin will be impractical to use as a currency when it comes to mainstream market and when fiat is a better alternative available. Dark web uses cryptos for hidden transaction and for leaving no money trails. It is bit convenient to use cryptos than fiat in dark web.
I still believe high volatility is a problem when it comes to mainstream acceptance of Bitcoin as a currency.
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I used to have myetherwallet adress and i never list the password of myetherwallet in my notepad,only the eth account adress and the private keys which i think this are only the important to save.
My question is?
Is myetherwallet password is important when i need it to exchange my rewards into fiat?or only the eth account and private keys?
Hope you mates can help me clear this out.
If you have pvt keys with you there is nothing to worry. Password becomes important when you lose your pvt key. Then you will need password and Keystore file to unlock your wallet. I would still suggest you to move your funds to some new mew wallet. So, that you can have access to pass as well. There is nothing wrong in having to options to unlock your wallet when your savings are in it. |
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I have noticed it when actually the bitcoin price is rising up the cryptomarket also will. Is that because of bitcoin is directly proportional to the other cryptocurrency? so that when bitcoin dumped the other crypto also will dump? Whats your opinion about it?
Yes, market isn't that mature at this point that it can move independent of BTC. Altcoins follow BTC almost in every market move. But they don't follow it instantly, rather altcoins wait until the trend is confirmed and there is an organic price movement and not a manipulated one. |
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Do you have any good reason to believe that the crypto market is going to grow this year? Do you think we may end up in all red? I do not see the growth and happy investing of last years.
If you mean green by crossing the last year ATH, then maybe by December, we might achieve a new ATH. Otherwise, market is doing the rounds of green and re market. There are few small term uptrends followed by downtrends giving traders enough opportunity to earn some profits in this market situation which is largely being called bearish one. |
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Most likely YES.
BTC is likely to jump in December just like last year. But the growth will start during Q3 only. Specially if ETF gets approved, we will see a bul phase quite soon than expected and uptrend will continue till december with few corrections over time.
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You are talking about $21 Trillion of marketcap. No one is going to put this much money in such a volatile and decentralized asset with uneven distribution. It would be hard for Bitcoin to cross such a marketcap unless there is humongous shift of money from fiat to cryptos for whatsoever reason. Right no looking at this market, it seems kind a impossible. But cryptos are usually unpredictable.
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You can't be patient during instant trades. You need to take quick decisions and only target somewhere between 2%-8% profit in instant trades which is usually done when there is some news and buyers are overpowering the sellers. Instant trades is definitely not for everyone. You will need a high volume coin for it where trade is happening every second. But if you missed it, you might end up with a loss.
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Altcoins have a low value and you can earn a lot even if the price shoots up only a little. For example: Consider you are investing 100$ in an altcoin. The altcoin is valued at 1.15$. This buys you 87 tokens. Now, after a few weeks, the altcoin in which you had invested rose to 1.75$. Your portfolio value is now 152$(87*1.75) which is approximately 65% of profit. In a span of a week, you got richer by 52$. What if you had invested 500$. Do the maths Smiley
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I think ETF will get approved this time and after that price will reach to new heights. I would suggest until BTC is consolidating at $8200, invest! This is the best possible time to get on the bullish ride which is expected to happen in August. ETF launch will push BTC baove $10k and when that is breaches $15k is not so far. If the rally starts this time, I expect it to go till $17k.
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