Tulip Mania: When Tulips Cost As Much As Houses
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The market had a great bull run last year. We saw Bitcoin and many altcoins reaching all time highs last year. Why sub 1 USD you ask? In my experience, these coins have more room for growth price wise compared to coins with higher price.
A friend asked me if Ripple was a good investment because of its low price then. To make things more interesting for me, I chose 9 crypto at random which I have no idea with and 1 crypto which I am very fond of which still meets the sub 1 USD criteria. Other than that, I almost have no idea what some of these crypto are for.
Their scientific approach with regards to their development and their regular monthly updates gives me indian fud sell offmarkets crashingsell bitcoin sense of security on how they handle things. The whiteboard discussions presented by the team is also very helpful in understanding the fundamentals in their very complex project. Investing in a very volatile market such as cryptocurrencies is very high risk. As a constant reminder, only invest what you can afford to lose. For this experiment, I invested a total of 0.
I could either end up being richer by a few hundred dollars or I could end up losing all of my initial investment. Either way, indian fud sell offmarkets crashingsell bitcoin should be an interesting year for me. Second, the bear market made it harder for me to look at my portfolio to find motivation to continuously do trading. I left my current company and will be joining a new one soon so that should give me a few days for writing something up. I follow him on twitter and his YouTube channel videos were very helpful.
He also has a steemit account you can checkout here. Moving averages have been a staple indicator in the tools used by multiple Technical Analysts. The main difference between the two is that the Exponential Moving Average gives more weight to the recent data. This means EMAs provide a more reactive approach to recent price changes which is very good for a volatile market like Cryptocrurrencies.
I tend use MACD to check for crossovers which can be a signal for buying or selling. One of the more popular indicators among traders is the RSI. So how do I use these indicators for trading?
These two candles should satisfy the following:. It just helps traders better manage their risks. This post will mostly revolve around my January update and the market crash. Trading indian fud sell offmarkets crashingsell bitcoin is very risky due indian fud sell offmarkets crashingsell bitcoin the volatility of the market. Only invest what you can afford to lose. I started this challenge with the goal of reaching 1 BTC eventually through event driven trading.
I learned a lot during the first month of this challenge and will be using that knowledge to my advantage moving forward. The biggest gain I had this month came from eBoost. The reason I bought eBoost then was because of an upcoming new token announcement which will result from a hardfork. As expected, the hardfork factor contributed a lot to my gains here. On the other hand, my biggest loss came from Edgeless. My reasoning behind purchasing Edgeless was because they were about to release their new platform.
It was a great update for the coin itself, unfortunately this is the time when the market really started going down. In the 11 trades I made for January, the average length of open trade I have is roughly 2 days. Looking closer at the difference between the length of open trades I have, it seems like most of my shorter trades gained much more compared to the longer ones. Another thing I noticed is that out of the 11 trades I made last January, 3 of them involved Edgeless.
Looking back, it seems like there were just too many good events for Edgeless which made me choose it over the other coins. Unfortunately, Edgeless also made me lose the most this month. I knew that indian fud sell offmarkets crashingsell bitcoin growth of the cryptocurrency market was not sustainable especially in the early days of December.
There were a lot of news indian fud sell offmarkets crashingsell bitcoin affected this crash. The usual China banning bitcoin, trading and all sorts of stuff related to cryptocurrency is one of them. There were also some negative news from South Korea like market manipulation and rumors of cryptocurrency trading ban.
And of course, we should not forget and discount the still looming Tether issue which up until now is still unclear. Cryptocurrency is still quite new and as seen from indian fud sell offmarkets crashingsell bitcoin recent events, news and events still greatly affect the price of the market.
I decided to go with both approach. I created a telegram channel dedicated for my 10 mBTC challenge. This wraps up the first month of my 10 mBTC challenge. There were lots of missed opportunities and but there were lots of learning as indian fud sell offmarkets crashingsell bitcoin. Hopefully the market starts to turn around so that I can reach my 1 BTC goal earlier. My day job demanded a lot of time indian fud sell offmarkets crashingsell bitcoin and as a result I was not able to do a regular post on my trades.
I still managed to put in some buy and sell orders for some coins but I was unable to blog about it. Past Trades and Event Updates will be my focus on this post to make sure everything is as transparent as possible in my 10 mBTC challenge.
With the market somewhat recovering, I can hopefully get back on track to my road to 1 BTC. Since there were some more upcoming events around that time, I decided to cut losses and move my funds to a new coin. I lost about 1. With the market going down, I tried my best to look for an event which can still result in a price increase despite of what is happening. I only had two choices so Indian fud sell offmarkets crashingsell bitcoin just did a coin flip.
What made me feel good about this trade was that despite the market being down, I managed to pull out at the right time and still made a small profit. They will be releasing a new website which I think may not be that great in terms of driving the price up. However there is something in my gut telling me that I can still earn a few coins from this trade. Hopefully this trade turns out well so I can move on to other coins with events which I think can really drive their prices up.
With the first month of the year coming to an end, different coins are scrambling to catch up and deliver their promises made from last year. This can be seen with the vast number of events indian fud sell offmarkets crashingsell bitcoin to happen as the month closes. I might divide my stake indian fud sell offmarkets crashingsell bitcoin multiple coins or I might still stay with just one single coin.
Both calendars are community driven so most of the time, news or events found there are often reliable. I aggregated a collection of future events this January which I think will help drive the price of the coin up. You can find that list below:.
Hardfork for difficulty update. I guess that wraps up everything I wanted to share so far. However I always make sure that I update my google sheet to properly reflect what I buy and sell. I should be able to setup something right before January ends.
Trade 4 was a bit disappointing. I tried holding for a bit but decided to just sell at a loss in order to ride the next trade. Users can then later use their eBoost tokens for wagering on eSports events. Like other coins, they also claim to be a decentralized platform. What sets it apart from other eSports based coin is that instead of choosing to run of top of Ethereum, eBoost decided to use its own platform. This makes sure that even the other blockchains get congested due to multiple and different uses, eBoost will run smoothly on its own dedicated network.
To add to this, eBoost also has two more events scheduled this month. This could easily help pump up the price a bit more. January has tons of great events we can take advantage of. Below is a rough outline of my future trades this January. Take note that this is not set in stone and may change due to different reasons. That way I can maximize indian fud sell offmarkets crashingsell bitcoin profit with the multiple events happening this month. The first week of January flew by so fast.
I managed to double my starting capital in about 4 trades. Lost a indian fud sell offmarkets crashingsell bitcoin in my last trade but I learned something from it. Now I move on to the next one which hopefully will bring me more coins! As always, happy trading! For tracking events, I use the Cryptocurrency Calendar at coinmarketcal.
This is my 3rd post for my 10 mBTC Challenge series. I will link Posts 1 and 2 at the end of this page. That wraps up my 2nd and 3rd trade for this week. I jumped out of Triggers too early and might have missed some profit. However it gave me more time to choose on what coin to trade next. NEO will be having a meetup event in Dublin on the 8th of Jan.
