The market for cryptocurrencies is SO VOLATILE which makes me think that the things that happened last year (even towards the end of December) don’t have THAT much impact on the coins now.
I remember talking to a friend about my interest to get into Bitcoins and altcoins but he was just very negative about it, saying that it’s going to crash or all these regulations will change the game altogether. But then again, the RETURNS are unbelievable. I wouldn’t be surprised if it’s bound to crash soon.
I don’t think you’re being cynical-- more like realistic really.
I mean, it may not crash and burn eventually but I really think it would lose its value. Nonetheless, best ride the high while it’s still there, right?
I have had my fair share with trading Cryptos.
Although The Cryptos are showing signs of being heavily bearish due to the restrictions being implemented on them slowly or being announced in the near future.
And the very recent Japanese crypto exchange hack
I am still sure that we are going to see another big BULL run from the Cryptos in the near future and it should be as big or even bigger than the one we saw recently.
I would bet my money on buying Cryptos for one more bull run in the very near future.
Hi @theforexalgo. Thank you for sharing this with us!
Haha. This is the kind of assurance I need right now to feel like I’m investing in the correct markets. Still, I would love to know, what makes you this sure?
There is ample information and data to support my reasoning for being Bullish on Crypto…
I can start with one for Bitcoin, that according to the most recent CFTC report most of the Major Hedge Funds are going Bullish on Bitcoin Currency…
It suggests that Hedge funds have turned Bullish for the first time in the last couple of months with the long positions held by them being more than double in comparison to the short positions held in Bitcoin Futures…
This does give me a lot of confidence that Cryptos are not just done yet and that it is just a correction which was due for a few months now.
There is ample information and data to support my reasoning for being Bullish on Crypto…
I can start with one for Bitcoin, that according to the most recent CFTC report most of the Major Hedge Funds are going Bullish on Bitcoin Currency…
It suggests that Hedge funds have turned Bullish for the first time in the last couple of months with the long positions held by them being more than double in comparison to the short positions held in Bitcoin Futures…
This does give me a lot of confidence that Cryptos are not just done yet and that it is just a correction which was due for a few months now.
If you are talking about 100 years down the line, we don’t know. Probably yes…! For sure, we would be all dead before forex market could go dinosaurs’ way…!
Judging by chart analysis, nothing radical has happened on the BTCUSD pair in the last 24 hours. The downwards trend on the daily timeframe remains intact. Because of this, it’s perfectly possible that bitcoin will test the low range formed at the beginning of February, which runs from around 6,000 to 7,500 USD.
If we look at the fundamentals, the last 24 hours have seen one very encouraging piece of news. Yesterday, on the 15th of March, Lightning Labs launched a beta version of the Lightning Network; developed for the main Bitcoin network.
This is, of course, excellent news for Bitcoin. It shows us that developers are looking at every possible solution to Bitcoin’s scaling problem.
Nevertheless, I still think that even if the Lightning Network turns out to be a viable solution to the scaling issue, it will need time to prove its worth; specifically, that it can handle bitcoin transactions without any problems. Because of this, I don’t think that bitcoin’s price will immediately go up whenever a solution to the scaling problem appears.
Taking all the above into consideration, I’m going to stick to my position that if you’re thinking of buying bitcoin now, you should only do so if you plan to HODL for a very long time (at least 2-3 years) and you won’t start panicking if the current price undergoes a correction of 30-50%. If a correction does happen, I think the optimum price at which to buy bitcoin is somewhere within the range 5,000 – 7,500 USD.
Source: Bitcoin review (16/03/18)
yea, i opened a coinexx account yesterday, going to trade demo for a while to see if I can find a good profitable strategy. the forex and crypto markets are definitely not the same from what I’ve noticed
Well, they might have a bright future, but it’s not coming very soon. We need more stable coins to do something with crypto (like USDT, TUSD). Due the high volatility of the crypto market its difficult to actually use the pumping and dumping currencies in real life.