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Online Should I invest in Bitcoin at the end of 2022 - shared directly from the expert from primexbt on Blockchain technology and cryptocurrencies?
Bitcoin and cryptocurrencies have become a global investment trend, it has an international stature, not just in one country at all.
Bitcoin always receives mixed opinions about investing in this currency, critics, supporters, some countries ban its use, but there are countries that are very open to Bitcoin.
Bitcoin's biggest barrier is still "acceptance", acceptance here is by countries, companies, corporations and most importantly, users, which is us.
In the world, there are quite a lot of people getting rich thanks to Bitcoin, including billionaires like the brothers Tyler and Cameron Winklevoss, Roger Ver (CEO of Bitcoin.com), Tim Draper, Charlie Shrem, 20-year-old USD millionaire Erik Finman ,..these are all people who invested in Bitcoin very early and until now they are still pursuing Bitcoin.
Before investing in anything, you also need to have a basic knowledge of it, Bitcoin and virtual currency too.
Therefore, when you want to enter this market, besides skills, you need knowledge.
What is Tradecoin?
Many investors prefer to trade at Primexbt because it is an extremely volatile asset with up to 200x leverage. If they can choose the right timing of the market, trading coins can give them much higher returns than traditional investments.
But if you are a newbie, the concept of trading coins must still be strange. This article will help you understand all the information you need to know about trading coins such as:
What is Tradecoin?
Popular forms of coin trading.
Steps to trade coins.
Effective coin trading methods.
Some reputable exchanges to trade coins.
What are the risks of trading coins? Should you trade coins?
Trade by technical analysis
If you are a newbie, this is quite a difficult form and you need to learn to be able to use it. With this form, the trader will have to observe the price action of the coins on their charts and historical data. They also have to calculate the liquidity of that coin to analyze fluctuations in supply and demand.
There are also many other factors you must learn such as indicators, capital allocation, risk management, trading psychology and then determine when to buy, sell or hold. However, technical analysis is not always right. No matter how good a trader is at technical analysis, sometimes the market goes against their expectations.
Trade according to the news
The cryptocurrency market is particularly sensitive to news. The good news, the price goes up and the bad news the price goes down because most investors suffer from “FOMO and FUD syndrome”. With this form of coin trading, traders will rely on market news to predict prices. From there determine when to buy or sell coins.
Remember that when the news comes out, all technical analysis is affected more or less. While the technical analysis of a coin gives us a good buy signal, the news about that coin/token is bad: the price is still falling as usual.
So which of these two forms of trading coins is more effective? This also depends on the trading method a trader chooses. Many traders combine both forms of trading to perfect their trading system. However, the ultimate goal is still to make a profit and you should choose the form of trading that works best for you.