In 2017 Crypto Markets Continue to Trend Higher with Momentum It is evident that cryptocurrencies have been in a trending market for the past two years, or some would argue, since their inception. Every $1000 invested into a basket of Bitcoin, Ethereum, and Litecoin at the beginning of January 2017 would nicely turn into $18,000 in just 11 months; completely…
Howling, expounding, hyping, none of this makes a difference to a market of any size. Markets are gigantic stochastic processes and it takes truly historic events to change or make the trends. If someone loses money investing there is no person to blame and that harsh reality needs to be embraced by anyone wishing to make money in the long term. Personifying the market warps the investor’s ability to understand the mechanism of buyers matching sellers and prices being made. “He said this, she said that” might make for tabloid journalism but it doesn’t make trends.
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The top of the order book will show you the lowest price at which someone is willing to sell a cryptocurrency, and the highest price at which someone is willing to buy it — but that doesn’t mean you can buy or sell the amount you want at that price. In fact, the amounts of a cryptocurrency that people are offering to buy or sell at the top of the order book are often quite small, which means that, if you’re trying to buy or sell a larger amount, you’ll have to go deeper into the order book: finding a counterparty who’s offering a price that isn’t as good as the “market price.”
You don’t have to buy a whole coin. You can buy fractions of coins. Bitcoins are expensive currently in 2018, so consider buying fractions of a coin to start if you don’t have a big bankroll. It has historically been a mistake to buy only ETH and LTC because BTC costs more. You should consider which one is most likely to increase in and retain value. Buying all three in equal dollar amounts, and ignoring how many of each coin that amounts to, is one way to avoid making the wrong choice based on price tag per coin.
We will describe these cryptocurrency trading strategies for you here, and the first ones we’ll review are the technical strategies. With technical trading, you have two basic strategies to use for the trading of cryptocurrency. You’re either going to trade with the trend/momentum of the current market, or you’ll be trading for mean reversion. Mean reversion is when you think the spring has been pulled too tight, and your waiting for that spring to snap back to an equilibrium point.
Bitcoin has had phenomenal growth in its price and MCap since inception. If we exclude other cryptoassets, Bitcoin has been the best performing asset in the world every year since 2009 through to December 2017 with the exception of 2014. It has beaten all global currencies, equities, commodities, bonds, ETFs, real estate throughout that period. Bubbles are by definition short-lived, they do not keep bubbling for eight years.
Speaking to CNBC, the crypto trader claimed that other coins might have been overhyped as the progress in distributed ledger technology is slower than people expected. Smith said that, “They got really excited about all these other tokens and use cases. And all of the sudden you saw all of these smaller tokens, as people got excited about them, massively outperform. We got way ahead of ourselves.“
Set limit orders for a few dollars under or over recent lows and highs. This can result in you buying or selling before BTC hits resistance. Sure, you can use crazy TA skills to find support and resistance levels, but you can also eye out levels by looking at a chart. 9 times out of 10 you’ll be able to eyeball a general support or resistance level and get close to the level a pro would have charted out (partly because the price has likely stalled on / bounced off those levels before; little parlor trick).
Bitstamp is a European Union based bitcoin marketplace founded in 2011. The platform is one of the first generation bitcoin exchanges that has built up a loyal customer base. Bitstamp is well known and trusted throughout the bitcoin community as a safe platform. It offers advanced security features such as two-step authentication, multisig technology for its wallet and fully insured cold storage. Bitstamp has 24/7 support and a multilingual user interface and getting started is relatively easy. After opening a free account and making a deposit, users can start trading immediately. Check out the Bitstamp FAQ and the Fee Schedule
So it comes as no surprise that this new generation are exhibiting all the same traits and mistakes that sucked the previous generation of new investors and generations before them through the financial wood chipper. Now a funny event in the last few days made me think running over some classic errors of judgement for this new generation might have some benefit.
The smart selection of assets ensures the fund avoids the biggest pitfalls of the industry. Only assets with excellent fundamentals and growth potential pass the strict filtering process. Continuous review minimizes the exposure to bad assets. The portfolio is diversified across the whole blockchain industry, with different cryptocurrencies, technologies, industries, fiat currencies, and traditional assets all represented. The cryptocurrency market runs 24/7, and PentaFund ensures that the funds are protected at all times.
In case, you do not wish to hold the token, you’ll be charged a small fee of 0.1%. Moreover,for depositing cryptos, you’ll not be charged anything but at the time of withdrawing, you’ll need to pay 1% fee with the minimum withdrawal of USD 15. Overall, Bibox offers an easy to use platform for you with a large array of cryptocurrency assets for trading.
What would be a good portfolio for a newbie today, I just keep losing with these popular Altcoins? Are you seeing just as much significant growth today (like doubling) as before with your portfolio? I need a fresh portfolio today that has just as much potential as the day when you had bought into your Altcoins. Can you also give an idea of the percentages of the spreads you mentioned in your wallet? Also, with the influx of coins/icos, do you think alot of coins will lose value and it will be harder to find the gem amongst the rocks?
You’ll find that different exchanges cater to different markets. Today, most countries have at least one cryptocurrency exchange specializing in their own currency. There are exchanges that can accept New Zealand Dollars in exchange for bitcoin, for example. Other exchanges are known for certain pairs. Bithumb, for example, has particularly strong liquidity in the ETH/KRW (South Korean Won) pair at the moment (and it’s easily the most popular cryptocurrency exchange in Korea).
Hi, unfortunately I bought bitcoin at the peak, then it fell all the way down before I switched over to some of the Altcoins you mentioned, however I didn’t realise the time I switched over to them, that the Altcoins were at a peak and when I switched they then fell down too leading to more of a loss. I also, feel a lot of those coins have maybe had their days of 100x, 10x their gains and had more potential at the time you bought into them.
Ideally, a rookie trader should start by choosing a reliable exchange and playing with popular coins, such as Bitcoin or Ethereum. However, the learning by doing approach is too slow for those who want to succeed fast. Joining a community of like-minded traders could be one of the best decisions to make: there are plenty of groups on Telegram or regular meetups in the US and other countries.
Coinbase/GDAX will want more personal information than you’ll feel comfortable giving them; there is no way around this. The more information you give them, ID, Bank account, credit card, etc., the higher your limit and the less restricted your account will be. Don’t let this scare you off from becoming a cryptocurrency investor. Every other exchange user went through this process; you have to also. Since you have to trust someone, Coinbase/GDAX is a good bet.
It is important not to neglect the power of altcoins, or non-bitcoin cryptocurrencies. Altcoins are less prone to public speculation. Their smaller market caps are more prone to larger swings in pricing. Each altcoin has a purpose and an intent, catering to different niches. There are larger risks associated with investing in altcoins, but also larger rewards. Our personal favorites are DASH, ZCash and Monero.
Similar to Bitterex, Poloniex is also a crypto-only exchange which will allow you to go ahead with your trading by depositing Tether dollars. The fee charges for this crypto exchange depends upon your choice (whether you are a maker or taker) and can be 0.15% to 0.25% accordingly. Traders looking for a variety of altcoins can check Poloniex for their requirements. Although you’ll get an intuitive mobile-friendly website to place your trade; there are no options in terms of mobile applications.
Crypto exchanges no longer serve a small community of early adopters, but an entire market of crypto enthusiasts that just can’t get the level of service they are looking for when trying to exchange cryptocurrencies. Introduced by the same people who brought AAATrade to the world of CFDs, CryptoExchange is a relatively young cryptocurrency exchange that has gained popularity among crypto enthusiasts these days. The platform aims to resolve the hassle associated with the slow approval process and poor customer support that characterizes traditional exchanges.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book). The whales are just waiting patiently for innocent little fish like us to make mistakes. Even if you aspire to trade on a daily basis, sometimes it is better not to earn and do nothing, instead of jumping into the rushing water and exposing your coins to losses. From my experience, there are days where you only keep your profits by not trading at all.
The truth is that bitcoin is the hottest trading market right now, hotter than stock trading, oil trading, gold trading and any other market at this point. The reason people believe this is going to continue to be a hot market is because blockchain technology which is what allows transactions to happen without a central exchange. Here is another strategy on how to draw trend lines with fractals.
We’ve come a long ways in our path to becoming crypto traders, but there are still some very important things to learn. So far, we’ve learned how to do a fundamental analysis of a cryptocurrency, and that it’s important to do this so that we fully understand them before investing. But as traders, we need to understand what kinds of things tell us when should buy or sell. We need to understand technical analysis.
I have been following the crypto markets since mid 2017, just in time to witness the incredible surge of the digital asset industry. Fascinated by the potential of blockchain technology I’ve started to dig deeper and that’s how I ended up meeting the Toshi Times team. I hold a Political Science degree, therefore the crypto regulation development is particularly interesting for me. I’m also heavily involved with music, running my own label, a YouTube channel and working with distribution. People call blockchain the ‘Fourth Industrial Revolution’ and I believe it will change our daily lives in the coming years and we will have the front row seats to witness it.
If you’re a cryptocurrency investor that maintains a complex and extremely diversified portfolio, the Blockfolio app is able to deliver a significant return on investment by automating a number of complex processes that are associated with diversified asset trading. The Blockfolio app can even help cryptocurrency investors in calculating and reporting capital gains tax on cryptocurrency investments.
Binance are relatively new on the block but are poised to become the biggest digital asset exchange service available. Crucially, Binance are likely to eventually limit the number of users they take on, much like some of the other exchanges, so I recommend opening a Binance account today even if you don’t use it anytime soon – then you at least have the option.
(BTW, don’t you love the price predictions on Bitcoin that pundits come up with from time to time? Talk about a wide price and time spread. And they are always disclaimed with something like “these predictions should be taken with a grain of salt” and “do your own research” and “this is no way constitutes investment advice”. Imagine if there was a “sell side analyst” job in crypto. Talk about a great gig…)
For stock market investors, investing in Bitcoin indirectly through a listed security such as an ETF, ETP, or trust may be suitable for those looking at taking a passive position. Active traders might find the limited trading hours and potential lack of volume a limiting factor that could hinder their trading. Overall, using listed securities that invest, track, or hold Bitcoin can be a viable alternative to diversify away from the risks of margin trading or safeguarding private keys when buying the underlying.
Recommendation for such a plan: After placing target sell commands, and given the coin has reached its first goal, you need to close out half your position. Meanwhile, increase the stop loss to the initial entry level (so you won’t lose at all). At the second target level you should close out an additional quarter of the position. Now, it is likely you will stay in the position with a quarter of it, although with the profits alone – once you got the fund’s money back “home”. At this point the profit game becomes unlimited. Coins that pump up 2,000% in two weeks are not a rare sight in the crypto world. When you are only playing your profits – you are on the safe side and it becomes a lot easier.
Hey Jhon, I haven’t found a crypto yet that is really related to my hobbies – Crossfit and backpacking – but I would actually advise steering clear of investing in things linked too closely to what you’re passionate about; whilst insider knowledge of an industry is really valuable, it’s important to trade without emotion and if your trading a coin that is linked to a great love of yours, that becomes harder.
When you buy/sell via an exchange, try to use limit orders (try not to use market orders). On some exchanges, like GDAX, limit orders have lower fees than market orders. On GDAX, limit orders are free as long as they don’t fill immediately. Meanwhile, market orders result in a .3% fee, which is better than the 1.4% that Coinbase charges but not as good as 0%, especially if you are day trading. If your exchange rewards you for using certain order types, aim to use them.
On the contrary, bitcoin has been widely used for international payments and is way more efficient compared to traditional cross-border remittance. According to Mr. Smith, “They use Western Union, traditional banks; It is slow and it is expensive. And there are people that can stop you from sending that money, whether that’s good or bad. With bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me.“
I’m not going to go too deep into other ways you can earn money with cryptocurrencies because I don’t do them myself. At least not right now. Passive income is great. After you make an initial investment, you mostly sit back and watch the money roll in. It’s like buying a home and renting it out - there will be some maintenance issues but it’s mostly passive income.
Bitcoin traders are actively seeking the best possible solutions for trading and investing in bitcoin, we have some of the best methods explained right here in this article. We have learned this bitcoin wisdom by trial and error and we are going to show you what is working right now. The methods we teach are not dependent on the price of bitcoin, they can be used whether bitcoin is going up or going down. Also please note that it is possible to lose money and your capital is at risk while trading cryptocurrency because it is still trading and speculative in nature. That is why we always recommend that you demo trade before risking any live money. Also, read the trading volume guide.
A week in the crypto market is equivalent to three months in the traditional capital stock exchange, in terms of events and occurrences. One who wants to jump right into the deep water of crypto trading has to follow it not just on a daily basis, but on an hourly basis. It’s not everyone that can play this game. Nevertheless you need to consider the amount of time invested in the process. Sometimes it pays off to be a long-term investor, rather than a daily trader. By the way, as a daily trader it does not necessarily mean you are bound to buy and sell and trade every single day. Trades can reach their destination within minutes, as well as within months. Think about the time you are willing to invest in studying and tracking the market. Remember your time has marginal cost, or in other words – your time has a price tag. If you have decided to put your time and effort into trading on a daily basis, it is better to start with small doses and examine the performance prior to increasing invested amounts. This is yet an additional benefit of crypto – the possibility of trading on micro-transactions. Unlike the capital market, where if you put an eye on Apple stock, you would need to buy a minimum share equivalent to a couple thousand bucks, in crypto you can perform transactions of a few cents.
I’m an elderly gentleman, closing in on 68 years of age. My son introduced me to Crypto in late 2012. After doing a lot of researching Btc I felt strongly that It had a lot of growth and potential ahead of it. So my son and I built my 1st rig and I started mining in January 2013, pulled $5,000 from my IRA and bought Btc at $13.44 and have never looked back since. The sweetest sound that I’ve ever heard was the clink of my 1st mined Bitcoin way back when. That was as satisfying a note as there ever was on any musical scale. Nothing but happy days ahead since. Don’t get me wrong, there have been bumps in this Crypto highway, the demise of the Silk Road, Mt Gox, DAO hack to name a few but as a HOLDer (holding on for the long duration) not a HODLer (hanging on for dear life) and not day trading, has rewarded me with quite a decent profit. It just takes a lot of patience (Sisu) and doing your research with due diligence. I have since invested in Ethereum (Dec 2015), Monero (Jan 2016) and lately Omisego (July 2017) all purchased from some of my profits from Btc to go along with my newly acquired free Bch and recently free Omg. I’m currently operating 3 rigs equipped with 6 gpus each. 2 mining Eth and 1 Monero for now, all of which will be re-evaluated after Metropolis kicks in to see which direction I go from here. So I ‘m back to doing more research in order to help with my next moves but I’ll always be a strong believer in Ethereum which is where I’ve made my money so far. HOLDing on to the rest for now. Btc $5,000-10,000, Eth $2,500- 5,000, Monero $200-400, Omg $100-1,000 no one ever really knows but MY research says yes and so far MY research has not proven me wrong. Bought Btc at $13.44, Eth at .80, Monero at .48, Omg at .43 Bch for free. No where to go but up for me. Just biding my time. It’s taken me over 4 and a half years to get here but I’ve made over $4,000,000 so far with just my original investment plus the cost of my rigs and I’m still sitting on a lot more. Taking a position and HOLDing is where the real profit is and it isn’t going to happen overnight. So if you want aggravation and ulcers go ahead and day trade, try and beat the Market I wish you luck but the real money comes with Research, HOLDing and Patience. Hope this advice helps because in the long run what it all comes down to, its just Eths, You and Me hopefully making the right decisions.