We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.
I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.
?? do you really think trading is that easy?
There's no easier way on the Earth to make money than crypto trading in normal circumstances.
there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.
But i guess you have to see it by yourself.
There are two reasons I want to leave btc trading and go to forex and stock trading:
1. My money is not safe on unregulated overseas crypto exchanges.
2. When I trade bitcoin I do not feel like I can be 'flat' on the market. There are two positions:
a. BTC. I am betting on the rise of BTC, but if I'm wrong, I lose value in USD and am 'losing money'.
b. USD. In this case I am betting on the fall of BTC, but if I'm wrong, I lose value in potential coins to buy and am 'losing coins' or 'missing the train'. Since bitcoin is in a huge historic uptrend, the implications of losing coins are high. Some bitcoiners even measure their wealth in coins and not dollars. In addition, when I hold USD I am also taking risk and betting on the safety of the funds on an exchange (see a).
So there is no position where I am 'flat on the market' and not making some type of bet and am content on leaving. I am tied to the market 24/7 to make sure I'm in the right binary position.
In forex, on the other hand, being in USD is always perfectly fine and you don't obsess about missed opportunity costs in one of the dozen currencies (or hundreds of other assets besides forex) you can trade.
All of that makes sense to me. I have bought BTC and i m hodling in paper wallet. I don t want to day trade it. It s a beast. Even more than GBP/JPY...
What you want is day trading. Looking to make a living on it, i assume. That is the most difficult thing to achieve. I whish you luck, but looking at reactions on this forum 90% of people will not last long on forex trading.
Especially for news time ^^ forex news is a bitch, never forget that
