Most traders who do not have a plan for trading blindly will be eliminated in the near future. As a transaction, bitcoin trading is no different from other underlying objects, such as stock futures. An effective trading strategy is essential in order to make a steady profit in this market. Stop the loss of profits, homeopathy, light warehouse is the key. To strictly implement these trading plan, use the program trading is very effective, program trading my first contact with bitcoin is BotVS quantification in the know the platform to see the column introduced bitcoin hedging strategy is inspired by. Later, I tried to write some trading strategies and use them on firm exchanges. Accumulated a lot of bitcoin trading experience. I’m still bullish on bitcoin, which was a great invention in the twenty-first Century.
"People always think they are going to go in and buy when it's the dip," he says. "Say bitcoin is trading at $10,000, then a lot of selling occurs and causes panic and some investors reenter at $7,000. Then bitcoin bounces at $8,000, but goes back down to $6,000 and people buy back in thinking it's going back up and they are making money hand over fist."
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Great guide, however, I would suggest one small edit. Instead of recommending Google Authenticator, use Authy instead, it supports google authenticator 2FA and the biggest drawback with Google Authenticator is if you lose your phone, it breaks or gets stolen you won’t be able to log back into binance unless you wrote down the secret key that binance provided whilst enabling 2FA.
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So let’s take our hypothetical 1 BTC from before and take a short position on Ethereum. We are able to borrow 2.5 BTC worth of ETH and sell it. 30 minutes later, the price of ETH has plummeted 10%. Now we can close our short position, buying back 2.5 BTC worth of ETH; except now, since the price has dropped, we are buying more ETH than what we sold. Our borrowed coin can be payed back and we take the rest as profit!
I feel compelled to spread the word; cryptocurrency is an amazing chance to make a fuck ton of money with a relatively small investment. The problem is, the window is closing. Many coins have already doubled in value many many times, the more a coin doubles in value, the harder it gets for it to double again and you to make a tidy 100% on your portfolio…
The technology behind Crypto Assets is called the Blockchain, which validates transactions and balances. It is leading a new wave of Internet application development, which I believe will ultimately form the backbone of a large proportion of the Internet over the coming years. I suggest you spend some time reading up on and understanding the blockchain. These applications tend to be decentralised, which means there is no single point of attack or ownership.
Categorize your investments and look at the long picture. In the process of your research, you’ll eventually realize you’re coming across a few different categories of coins. For some of them, you believe they have good teams, great vision, amazing publicity and a track record for successful execution. Great! Put these into medium or long-term holds and let them marinate into a delicious tenderloin. When the price dips, don’t even consider panic selling because anything in your medium or long-term portfolio should remain untouched for a set amount of time. BNB is a good example of a coin Miles considers a long hold. Recently, it dipped 20% for a while, and within our community, we witnessed some sell-offs to preserve investments. A week later, it jumped up almost 3x for a period of time.