General tips for trading cryptocurrency
Welcome to BitcoinUP - How to earn the money of the future by me, Frank Jones. Specialist in cryptocurrency trading
The "buy low, sell high" rule that applies to the financial market in general also works for cryptocurrencies.
Regardless of the amount of capital, a trader can find a suitable cryptocurrency and buy it, expecting its growth in the future. When trading cryptocurrency, it is very important to follow the news of both the market in general and the specific digital asset.
As in trading other assets, it is important to be guided by two types of analysis: fundamental and technical.
Technical analysis does not differ much from chart analysis on the Forex market. Fundamental analysis should take into account certain facts about cryptocurrencies, including the fact that their prices can be manipulated by big market players.
The cryptocurrency market is evolving rapidly, with new currencies constantly appearing and old ones disappearing. Users of the cryptocurrency market are attracted by the opportunity to protect themselves from the devaluation of the currency of the country in which they live. More and more stores now accept Bitcoin and other cryptocurrencies as payment methods, and in some countries (such as Japan), they are used almost regularly thanks to state subsidies.
Initially, Bitcoin was only accepted on shadow sites, but gradually it became a full-fledged currency that is accepted both online and in regular retail outlets. As a result, banks and government financial authorities are beginning to realize that this revolutionary payment method can change the entire financial world, and are loosening some controls on cryptocurrency circulation.
Cryptocurrencies are called the money of the future, in some time they may become a full-fledged global financial system. Despite all doubts and concerns, cryptocurrencies continue to be used, and their price and demand are growing. Meanwhile, the volatility of cryptocurrencies makes them ideal investment vehicles.
If you decide to trade cryptocurrency, keep in mind that there are many other digital "coins" besides Bitcoin: Ether, Ripple, Dash, Litecoin, etc. However, it should be noted that a collapse of the crypto market is also possible, just like in the case of any real market. There is also talk about regulation of cryptocurrencies, which can also affect the price. Long-term predictions are very difficult to make, but it is likely that cryptocurrencies will become an integral part of the market.
In the meantime, tell your friends!