short term trading is a difficult game.
it is skewed to exchanges favor and for traders to lose money via fee payments made due to lots of trading.
It is hard work lots of action and just one bad streak you can lose years worth of profits.
Topic: bitcoin boom or burst ? how to analyzed? - page 2. (Read 449 times)
I will advise you to keep your investment safe because I have come to realize most of user post like this when they are expecting too much from the trading of crypto. Firstly, you must know the market at this moment is difficult to speculate because bitcoin has been showing resistance around $9.5+k which was hard to believe because when the BTC price started rising few weeks ago people think we already enter bull run and the price will continue to rise without understanding what caused the rise
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
If you are online daily then it is not that hard to predict what will happen in the following days. Even if the market is unpredictable still you have big chances of predicting it correctly if you will just follow the market happenings like you can start checking the price from 1-2 months and also the weekly graph.
And also you need to be wise, put in your mind always that in every increase of price there should be a little setback so a decrease of prices is only natural especially if it is not that big dip. For almost 3 months of the market starting January 2020, we can say that bitcoin will boom and not burst base on the happenings.
There are various things that you can take help of :-
*Some sites and apps offers insight into the future price , not everyone trusts it but people still use them
*Taking care of news related to bitcoins
*Governmental laws in the industry (they affect the price drastically)
*Using stock market stats principals here might help you
At the end of the day you cannot predict anything , these things might help 20-40% but there is nothing you can be sure of.
*Some sites and apps offers insight into the future price , not everyone trusts it but people still use them
*Taking care of news related to bitcoins
*Governmental laws in the industry (they affect the price drastically)
*Using stock market stats principals here might help you
At the end of the day you cannot predict anything , these things might help 20-40% but there is nothing you can be sure of.
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
Best strategy? Predict.
There is nothing we can do with this so fast-changing market but predict, make an educated guess. Some investors are so used to the changes in the price chart that they can get some of the movements correct. If there is a better strategy for it, I guess a lot of people will be doing that by now and earning a lot of profit from Bitcoin and also other cryptocurrencies too.
It would be nice to know that for sure isn't it? However I don't think any of us owns a crystal ball.. we can only make our "best guesses" on the market behavior and stick to them.
Learn fundamental and/or technical analysis and then come up with a strategy that you can respect even when the market looks like it will fall from its highest high like a rock. If you have a strong strategy it is imperative not to get influenced by other people's opinions.
Learn fundamental and/or technical analysis and then come up with a strategy that you can respect even when the market looks like it will fall from its highest high like a rock. If you have a strong strategy it is imperative not to get influenced by other people's opinions.
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You can try to analyze the price by watching the price moves daily so you can get the pattern of the movements. You can make your prediction by watching the price, so I guess that you will get a sign to do something in the market. When you watch the market every day in a month, you will see that there is something behind the movements, and that will be your guide to buy or sell bitcoin. But if you think that the bitcoin price movements is strange, you can break out and leave the market for a while to see what will happen with bitcoin.
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
You make use of all the factors that may possibly play a role in Bitcoin's price. You can look at the news surrounding Bitcoin or crypto in general. In fact, dig deeper and know what's about to be broadcast. The price begins to get affected while news are still rumors. You may take a closer look at the fundamentals as welll. You may also do some technical analyses using various tools to learn how to make some prediction guides and patterns. But all in all, brace yourself for constant surprises.
Analyzing the possible outcome of bitcoin is hard,
It is almost impossible, the only thing you can do is to guess its future, if it will boom or not. If you believe that bitcoin will increase, just trust the process and wait for halving to happen for the next couple of months.
It is almost impossible, the only thing you can do is to guess its future, if it will boom or not. If you believe that bitcoin will increase, just trust the process and wait for halving to happen for the next couple of months.
Why should this matter? Bitcoin is supposed to be a currency and if you use it as a currency, you should not be worried about things like this. Yes, it is a added bonus if the price can increase a little over time, because you do not want a currency to lose it's value, like with all other Fiat currencies.
Let’s say you have $100k in your account. Regarding your expenses, this kind of money is enough for the next 4 years for you.
Now you decide to switch to BTC and Buy 10BTC. As a result, you don’t know if it will be worth $30k or $300k in 6 months (possibly $15k or $700k).
Well, that sounds like a big problem for me as a currency…..
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
I personally see it from the technology system brought by bitcoin, with the Blokchain system which incidentally has never existed in the history of technology this can be one of the reasons why bitcoin continues to grow until now, not only in terms of price but in terms of volume also increases this can be one of our benchmarks that it is not easy to be able to destroy bitcoin which incidentally is not influenced by economic and political factors in the country
If from another aspect of analysis we can see from the volume level I said above, the higher the volume, the greater the price value that will occur, of course this should also be analyzed in technical terms, for example using the supply and demand aspects where all related with prices there will definitely be limits to supply and demand, because bitcoin is a dynamic market and all are still speculative
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
Bitcoin market was purely speculative, it was new it requires time to familiarize it. Instead of analyzing the market analyze the real situation outside it. Are we heading to a recession or not? Was the Gold delivers more value than crypto or not. From these scenarios wr can predict what will happen to the bitcoin market. If a lot og people buy btcs then the price will probably go up and vice versa.
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
Use Technical and Fundamental analysis. Those tools are created for a reason, and analyzing those historical prices incurred in the past have an effect to its future price.
As Marvels Hydra Agent says "The future is a digital book and can be evaluated based on people's past" this has something same with events and activities.
You can't. All we can do is to guess or speculate on what's going to happen. You could say that the price might go up due to(and in anticipation of) the upcoming halving in around 3 months, but will it go up? Maybe, maybe not. Pick your guess.
Speculation is the worst thing here. Most of other people speculate with a very impossible prices wil happened. Much better to study pattern than this IMO.
Analyzing the everyday movement of BTC will involve lots of time and effort. It is possible but it needs hard work. You might not be able to guess the status 100% of the time but I think if you've been doing it for years you'd be able to figure out the movement somehow. There are lots of factors affecting the price of cryptocurrency every day so you need to be aware of that. Anyway, considering the state of my mind, analyzing is not one of my skills. I'd probably go crazy if I keep thinking in advance so I'll just prefer to guess and invest when the market is red.
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
If analyzing the Bitcoin was that easy then everyone here would have become Bitcoin millionaire. I am not saying it is not possible to analyze, what I mean is that it is very hard to correctly analyze Bitcoin's movement because of its volatility.
What do I do?
Check historical data to understand the upward movement but not the downward. Check technical analysis to predict the downward movement.
None of them will give you an accurate picture but, it will prepare you to analyze the future movements of Bitcoin.
I was once one of those people who thought bitcoin's price can be predicted and I followed some people's advises and stuff when starting here in this industry. I lost a few hundred dollars, but it was a good lesson for me at the very least that tells me I should do my speculations on my own as much as possible. That's just a tip for you.
at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??
If analyzing the Bitcoin was that easy then everyone here would have become Bitcoin millionaire. I am not saying it is not possible to analyze, what I mean is that it is very hard to correctly analyze Bitcoin's movement because of its volatility.
What do I do?
Check historical data to understand the upward movement but not the downward. Check technical analysis to predict the downward movement.
None of them will give you an accurate picture but, it will prepare you to analyze the future movements of Bitcoin.
You can create your own speculation, that's all you have to do to see the market in a different perspective and that would be your own perspective. And we will see how good you are in giving meaning to the current market that we have.
Just like the behavior of bitcoin, it's very unpredictable and that's all you have to think of. Whether everyone has an enticing speculation and analysis about bitcoin but it's always unpredictable and nobody can have a perfect say about it.
Just like the behavior of bitcoin, it's very unpredictable and that's all you have to think of. Whether everyone has an enticing speculation and analysis about bitcoin but it's always unpredictable and nobody can have a perfect say about it.
It is not easy to analyze where bitcoin price movements because bitcoin price can moves to any price without we can know the truth. We can only predict the situations this week by watching the trend so we can determine what we should do related to the market movements. We can also draw a line with using daily, weekly, or monthly so we can know and predict where bitcoin price wants to go. But it still difficult to know and analyze what will happen with bitcoin in the next weeks because that will depend on how big people will buy and sell bitcoin.
Why should this matter? Bitcoin is supposed to be a currency and if you use it as a currency, you should not be worried about things like this. Yes, it is a added bonus if the price can increase a little over time, because you do not want a currency to lose it's value, like with all other Fiat currencies.
The 2017 spike in the Bitcoin price has drawn in a load of speculators that are using hype tactics to boost the price, because they are not using Bitcoin as a currency. People should ignore all of the hype and just focus on helping to promote Bitcoin as a currency/payment option like Satoshi wanted us to do.
The 2017 spike in the Bitcoin price has drawn in a load of speculators that are using hype tactics to boost the price, because they are not using Bitcoin as a currency. People should ignore all of the hype and just focus on helping to promote Bitcoin as a currency/payment option like Satoshi wanted us to do.
It is really hard to analyze the market, especially now. It pump last week and then dump again this week. Even technical analysis will just give you some decisions but not "precise" because we can't really predict the next steps whether it will continue to boom or to bust. Indicators may eventually help us to predict but market is hard to read.
Like now, recent dump makes majority of the long entries being liquidated in bitmex. Sad, but immediate sideways cannot be predicted.
Like now, recent dump makes majority of the long entries being liquidated in bitmex. Sad, but immediate sideways cannot be predicted.
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