Why You Should Consider Trading Bitcoin - NuWireInvestor
Why You Should Consider Trading Bitcoin - NuWireInvestor
Analyst Explains Why Bitcoin Is Trading Almost Exactly
Trade Bitcoin (BTC): Your guide to Bitcoin trading
Bitcoin Trading Near Inflection Point: Here’s Why $11,650
Why should I consider Bitcoin trading?
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I was wondering why trade bitcoins? What's the advantage of trading bitcoins over trading USD/JPY or even GBP/USD? Thanks. Edit: I've listed here the legal advantages and ignored anything already inherent to traditional forex:
Most trading providers allow for 24/7 trading
Some require no identification
Most are free of commissions (but not fees, but are always in percentages (will be disadvantage at higher BTC prices))
I asked myself this, and could only come up with a very few answers. 1) You want to short BTC and believe it is going down in price, no other tool allows you to do this 2) You are a big bull, and want to leverage long BTC because you think it will reach the moon So those are 2 cases, but I really don't understand all this TA crowd who surf every wave and alternate taking long/short positions. If you really wanted to do TA trading, there are many other places you could do it, without having the downside of "shady" exchanges (places that could disappear tomorrow with everyone's money without repercussion) and extremely volatile BTC price action. So, BTC seems like one of the worst things possible to TA trade and I just can't grasp it. The only explanation that I can come up with as to why so many people are trading BTC, is that they are new to trading and BTC was the first window they got into, so it's all they have seen and are really not sure what else is out there. 3) A final option I have thought of, I am not sure if it is true, but trading in BTC allows your to skip taxation in your own native country, so this may have some benefits as to attracting some folks as to why they would want to trade this. tl;dr: You either thing BTC is going up, or down, and I don't understand everyone else in between
"Have you thought about trading cryptocurrency futures to take a negative position on bitcoin?", Warren Buffett: "No, I get into enough problems with things that I think I know something about, why in the world would I take a long or short position of something that I don't know anything about?"
Excerpt from an interview: Reporter: "Have you thought about trading cryptocurrency futures to take a negative position on bitcoin?" Warren Buffett: "No, I get into enough problems with things that I think I know something about, why in the world would I take a long or short position of something that I don't know anything about?" Yet, in the same interview, Buffett also states that: "In terms of cryptocurrencies, genereally, I can almost say with certainty that they will come to a bad ending." And further that: "We don't own any, we don't short any, we'll never have a position in them." These statements are contradictory. He says that he doesn't understand it, yet he claims that he can say with certainty that it will take "a bad ending" (whatever that means). Still, he wouldn't short it. Indeed, he would shy away from taking any position at all. Has he formed somewhat more of a consistent opinion nowadays and expressed it? Source of the interview: https://www.youtube.com/watch?v=YWMmd7hlwNI
Some of them are also curious about why they should consider trading Bitcoin. By trading Bitcoin, you have the best opportunity to make a profit. Traders today embrace the cross pairs because of the high level of market volatility. The instruments offered by reputable traders include Bitcoin and other cryptos in the tradable asset list. The price struggled to gain momentum above the $11,800 level and a high is formed near $11,825. Bitcoin is currently correcting lower and trading below $11,750. There was a break below the 23.6% Fib retracement level of the recent recovery wave from the $11,349 low to $11,825 high. Bitcoin is trading above the key $9,120 support level and the 100 simple moving average (4-hours). The price is facing a strong resistance near the $9,400 and $9,500 levels. There is a crucial breakout pattern forming with resistance near $9,380 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). Why is Bitcoin important to traders? Launched in 2009, Bitcoin was the first decentralised cryptocurrency. It is the leading cryptocurrency in terms of market capitalisation as well as the most expensive. Bitcoin comprises approximately half of the total cryptocurrency market cap. Bitcoin trading hours. You can trade Bitcoin CFDs on Capital.com This was seemingly in reference to the fact that sometimes Bitcoin trades like the S&P 500 and other times like gold or silver. Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Analyst Explains Why Bitcoin Is Trading Almost Exactly Like the S&P 500
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