There’s an assumption, among less experienced traders, that once your altbags are underwater, there’s nothing to do but wait it out. Take up fishing; join a gym; kill some time until more favorable conditions return. Not so. Following the giddy euphoria of daily all-time highs, level-headedness returns. Clear thinking prevails when hype has been hustled out of town. While some of the following strategies call for experience, the majority require little more than a willingness to study. Put in the hours now and when the running of the bulls resumes, you’ll be at the head of the pack.
bitcoin doesn’t need to move up for you to profit — it just needs to move. Any which way is good provided you can identify the trend. The shorter the time frame, the greater the risk of getting liquidated — but the quicker the payday. The likes of Bitmex and Okex offer futures as well as that are funded every eight hours. Beware of futures trading altcoins such as ripple and litecoin, because bitcoin chooses the tune the rest of the market moves to.
Give Margin Trading a Go
Margin trading is basically futures on steroids. Crank up that leverage all the way to 100x if you’re feeling foolhardy or supremely confident. The rewards for mastering margin trading are huge: Bitmex’s top two traders have amassed 7,000 BTC between them. They’re exceptions though. In conventional cryptocurrency trading, you get to keep the coin, even if its BTC value sinks. With margin trading, the margin for error becomes wafer thin the higher you crank that leverage, and the penalty for failure is liquidation.
Brush Up on Technical Analysis
If there’s one thing a bear market’s good for, it’s homework. While the benefits bestowed by technical analysis (TA) can be debated, no trader in their right mind would consider margin or futures trading without a basic understanding of it. Start with the basics such as moving averages and RSI, and then move on to ichimoku, fibonacci, and all the rest. Bitmex’ is your playground for experimenting with indicators without getting rekt.
Most crypto traders have lives away from the soft glow of dual Tradingview monitors, and it’s unlikely you’ll have the time and skill to become a TA pro. Getting a feel for the basics will help you time your entries and exits better, however, and when the markets turn green, you’ll stand a better chance of selling near the top instead of falling for the hodl meme and suffering another 70% retracement.
Scalp Your Way to Profit
When the markets are capricious, there’s money to be made in creaming profits off small price movements. Scalping is a smash-and-grab job that requires little other than free time and a willingness to grind it out through frequent buying and selling. Like all trading strategies, scalping is not without its risks. All it takes is one major fail for your hard day’s haul to be undone.
Dig for Hidden Gems
Everything’s cheap in a bear market, but just because a coin’s cheap doesn’t mean it has value. Thanks to the low volumes and depressed prices, there’s no need to rush into trades. Instead, take your time to research projects that are undervalued and have the potential to 10x or greater when the market rebounds. Examining coins that have dropped 70% or more from their all-time high will reveal, amidst all the dross, a handful that have been unfairly hammered.
Most crypto traders are impatient, and sometimes a coin is languishing simply because the crowd has lost interest while the platform is under development. Monitor the social feeds and of projects you like to learn when their mainnet is due to launch.
PKO Bank, a major Polish bank, announced a partnership with blockchain company , which will provide a blockchain based verification and storage system for bankdocuments. This reported by on March 27.
The system will provide a cure way for customers to access documents containing information regarding transactions, fees, regulations, and commissions.
Anna Streżyńska, president of Polish fintech company MC2 Solutions stated the existing tools of informing customers do not meet….
Following on the similar path that Venezuela [Petro – PTR] did and many more states are planning to do, Sweden is looking at the opportunity to issue its crypto-next to the market. The digital currency called e-Krona i s set to be released in order of competition.
Being among the states that are drafting out plans to advance into a society being cash-less, in their daily lives – younger generations in Sweden have already electronic payments fixed. Riksbank – The Swedish Central Bank supports the idea that the upcoming [to be issued] e-Krona will be equivalent to the traditional currency but complete and be used for not major transactions and transfers between individuals, companies or authorities.
Cryptocurrencies called ‘Third Generation Coins’ are increasing in supporters and development/rate. One of them which leads the way of the crypto 3.0 is IOTA, which comes with many characteristics making it very respected around the place.
Being developed slowly but steady from scratch, the group of individuals backing up the coin created a new platform that has brought with itself many solutions to existing problems. As it has been completely written on Java, they did away with the traditional concept of blockchain altogether.
Why many ask that when it comes to IOTA being one of the first choices for future understanding among thousands of cryptos – well it is considered a coin ahead of its time being the first one not employing the use of blockchain tech, in which case various issues where nullified as the platform uses a system called Tangle.
“The tangle is what is known as a directed acyclic graph (DAG): a data structure that moves in one direction without looping back onto itself.” – David Floyd
What makes the Tangle system very unique, is that the more people use it – the network is faster and performs better accordingly. The case is very in contrary to other cryptocurrencies, especially the leading ones.
The Swedish central bank will have a clear approach towards KYC and AML policies. That’s one of the most important topics surrounding cryptocurrencies and one of the major areas o control around the world.
“#Sweden may be among one of the first countries to implement a national cryptocurrency with #IOTA. But before the Nrodic nation goes full cashless, the riksbank stressed several issues that a national #cryptocurrency would have to address!” – IOTA News on Twitter
Accordingly, Eva Julin – new e-Krona crypto-project leader, stated that the Swedish bank has chose IOTA as its support for the project. Simultaneously, the bank is sitting down with 19 other firms to get everything working and ready as it is planned the project will be given the green light in 2019.
As Sweden is not in the Eurozone, it does not have conflict of interest with the European Central Bank (ECB). Estonia had plans to issue a cryptocurrency but the ECB stopped it. Mario Draghi, ECB President, explained that no Eurozone state could issue a national currency that would compete against the Euro.
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Ethereum has been on a steady drop but is approaching a long-term area of interest that might spur a bounce. Price is hovering around $400, which has previously served as resistance and might now hold as support.
However, ethereum has also busted through the daily rising trend line around $500 to signal that selling pressure is very strong. The 100 SMA is above the longer-term 200 SMA on this time frame to signal that the path of least resistance is to the upside, but the gap is narrowing to indicate that a downward crossover may materialize soon.
In that case, selling pressure could keep picking up. Stochastic is indicating oversold conditions, though, so a return in bullish momentum might be possible. If that happens, price could pull back to the short-term descending trend line around $500 to attempt a break higher or get more bearish pressure.
The cryptocurrency industry has finished the first quarter of the year on the back foot as headlines have been mostly downbeat in the latter weeks. Google and Twitter will be banning ads for cryptocurrencies on their platforms, which could mean lower activity and volumes.
Meanwhile, the dollar has been able to score some gains across the board on the Fed hike and expectations of more tightening. The NFP report is due this coming week and could shape policy expectations, which would likely push the dollar in a particular direction. A stronger than expected read could reinforce dollar strength against riskier assets like ethereum, especially since trade war jitters have been fading as well.
Creator of ethereum Vitalik Buterin came up with a proposal to cap the maximum supply of ether, the network’s cryptocurrency, be set at 120,204,432, “or exactly 2x the amount of ether” sold in 2014. He says:
In order to ensure the economic sustainability of the platform under the widest possible variety of circumstances, and in light of the fact that issuing new coins to proof of work miners is no longer an effective way of promoting an egalitarian coin distribution or any other significant policy goal, I propose that we agree on a hard cap for the total quantity of ETH.
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