Greetings traders,
Does anyone trade crypto-currencies?
If so, may you share your experiences / tactics?
Considering allocating a small portion of portfolio w/ BTC…thoughts?
-Jake
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I tend to stay away from assets which are an active threat to the current monetary system…
Bitcoin can (and will) be crushed like a bug by some government if it ever becomes an active threat to the fiat system. I did some math a while ago, and it really wouldn’t take more than a few hundred million dollars to incite a huge sell-off. Do that a few times and most people won’t want anything to do with it.
It doesn’t respect technicals and the volatility isn’t there either.
ive been following Bitcoin very closely for a while now. To be honest i cant really call the long-term direction of its price. At one point it peaked at $1200. But the rumor is that it was heavily manipulated by bots on mt gox. Its been in the mid $200s for a while. I could see it going either direction. BUT, it is becoming more heavily adopted. It is an important technology. Most people don’t understand what it actually is. Its alot more than just a currency and will be used for tons of other things. I think it has value for this reason, but i could see the price going either way.
I think its only a speculators game…
I think bitcoin is a traders only arena with good and bad poker players.
The real cryptomarket is with traders since we are the ones capitalizing on it and eventually a market will emerge.
I just learnt that trading crypto-currencies may be tempting but they are very volatile too and most of them ends up giving losses to traders. SO if anyone wishes to trade them then they must need extra efforts or it will be better trading EURUSD or any popular currency pair in forex trading.