Who can offer trading recommendations on how and when to buy/sell cryptocurrency on the stock exchange, support Pump & Dump, participate in specific ICOs? Bitcoin signals. Novice investors often start working with freebies. Over time, they switch to paid or stay with the previous ones. Beginner investors are so innocent that they absorb the forecasts, advice, and ideas offered to them with their mouths open. They take for granted all these calculations based on Elliott wave theories, fractals, trend lines, supports and resistances, candle patterns and Price Action elements, heads and shoulders, volume profiles, and VSA. Many beautiful but non-working practices. Therefore, beginners need to rely on the opinion of experts.
Does Bitcoin Still Have Prospects?
The leading cryptocurrency already has all the prerequisites to increase its value to a record. It says Michael Ross-Johnson, CEO of the cryptocurrency p2p platform Chatex. According to him, one of the factors that may push up the quotes is the new program of US President Joe Biden to develop infrastructure for $2.3 trillion. The program provides for the subsequent distribution of “helicopter money” to the population. It may eventually come to cryptocurrencies, the expert said.
Trader considers a positive factor the adoption of global payment systems as a means of payment and Tesla CEO Ilona Mask’s remarks about cryptocurrency. According to him, it only provokes growth quotes. All these factors can already push bitcoin to $ 65-70 thousand if institutional investors do not suddenly start selling digital coins and switch to traditional stock market instruments, said the CEO of the cryptocurrency p2p platform Chatex.
Show the process of working with bitcoin signals. Get:
- To make a profit, you need to buy cryptocurrency cheaper and then sell more expensive, sell more expensive and then buy cheaper. The difference between buying and selling is your profit.
- Usually, bitcoin prices range from $ 5-35 per coin during the day, but there have been changes of more than 2,000 points in one day.
- To conclude a trade, the trader’s account must have at least 20% of the current market price of bitcoin. For example, to make a deal to buy or sell for $240, a trader must have a minimum capital of $48.
Fears of investors
When inactive bitcoins start moving for years, this puts pressure on quotes. Early cryptocurrency investors may view current prices as:
- long-term highs;
- expect a significant reduction in value.
At the same time, it is not possible to determine the true nature of actions with coins on old wallets. The reason is that the transaction can be a consequence of successfully restored access to the wallet and the purchase of some other assets for bitcoins. Early coins periodically “wake up,” but not often. So such events are of particular interest. Traders explain it as the effect of psychological manipulation of the FUD (the use of news that generates “fear, uncertainty, and doubt”).
“As in previous times, the effect manifested itself after the Twitter bot” Whale Alert “announced the transfer of coins. Such news creates short-term panic and misunderstanding. Soon after, everything normalizes, and investors calm down. Traders don`t regard the transfer of coins in old wallets as a signal that indicates the redemption of early investors from cryptocurrency in the run-up to lower quotations. The movement of inactive coins provokes a local reaction rather than a global one. A transaction to transfer inactive bitcoins for a long time may be evidence of an OTC transaction. It is likely against the background of growing interest from prominent investors.
Conclusion
It is tough to predict the behavior of a digital currency – there are too many factors that affect its exchange rate. Yet, you can learn to recognize trading signals. You can also determine the best times to enter the crypto market. Bitcoin will soon move up or down, as the asset has been in this corridor for a long time. The need for correction or growth is ripe. Many predictions suggest that in 2021 it is essential to invest in bitcoin signals. It is much easier to do this when there is a list of the most profitable. Orient, analyze, and make a profit! That’s what experts think.