Archives of “Cryptography” tag

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Here’s a BTC opinion – Bitcoin could surge to $300,000 then drop 90%

  
Analysis, BITCOIN
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Comments from Bobby Lee, co-founder and former CEO of crypto exchange BTCC to CNBC Monday afternoon US time.

  • could soar as high as $300,000 in the current bull market based on its historical patterns
  • (he does add that he was not sure if history would repeat itself)
  • “Bitcoin bull market cycles come every four years and this is a big one”
  • “I think it could really go up to over $100,000 this summer.”
  • warned the bubble will burst after peaking
  • a “bitcoin winter” that could last for years … following its bull run
  • Investors should be aware that bitcoin’s value could fall as much as 80% to 90% of its value from the all-time peak
BTC has dropped in past hours, maybe traders didn’t see the 300K forecast before the 90% drop bit?
Comments from Bobby Lee, co-founder and former CEO of crypto exchange BTCC to CNBC Monday afternoon US time.

The ‘Big 4’ Cryptocurrencies to trade

  
Analysis, BITCOIN
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What you need to know when trading Cryptocurrencies

EagleFX 1
The popularity of Cryptocurrency is on the rise and more and more skeptics are investing in digital assets each day. With people losing trust in central banks, coupled with the allure of investing in a digital currency which could appreciate, these factors have contributed to an industry boom.

What is even more exciting is the options available surrounding Cryptocurrencies nowadays. In the past, investors would simply buy a coin and wait/hope for the value to increase whilst running the risk of having value wiped out of an investment in a volatile market. This is avoidable now thanks to Crypto trading. Much like traditional Forex trading, Crypto enthusiasts can now trade on the projected performance of a coin without necessarily purchasing that asset.

The option of trading Crypto can be far more appealing than investing which comes with constantly monitor price performance. Thanks to leveraged trading on broker platforms, traders can concentrate on: going long and short on a range of Cryptocurrencies opposed to just investing and HODL-ING.

In this article, we will explore some of the major Cryptocurrencies which will suit day traders, scalpers, and swing traders. First of all, let’s consider some factors which contribute to a good Cryptocurrency to trade

Trade over 30 Cryptocurrency pairs with access to leverage of up to 1:100 for digital currency at new broker EagleFX. (more…)

Crypto news – Visa, Mastercard, reconsider involvement in Facebook’s Libra network

  
Analysis, BITCOIN
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The Wall Street Journal report second thoughts from big payment companies on the cryptocurrency.

  • Visa, Mastercard and other key financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following backlash from U.S. and European government officials, according to people familiar with the matter. 
  • Wary of attracting regulatory scrutiny, executives of some of Libra’s backers have declined Facebook’s requests to publicly support the project, the people said.
  • Their reluctance has Facebook scrambling to keep Libra on track. 
WSJ is gated, but here is the link if you can access it
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Meanwhile, BTC price chart update:The Wall Street Journal report second thoughts from big payment companies on the cryptocurrency.

German media report that USD will be 50% backing for Facebook crypto Libra

  
  Analysis
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Weekend report in Reuters on the cryptocurrency, citing Speigel

US dollar will make up 50 percent of the basket of currencies backing Facebook’s planned digital coin Libra
euro, yen, sterling and Singapore dollar comprising the rest
yuan will not be included
Exclusion of yuan “could help smooth the planned cryptocurrency’s path in the United States” says Reuters
More:
  • US dollar would make up 50 percent of the basket
  • euro with 18 percent
  • yen with 14 percent
  • GBP 11 percent
  • SGD 7 percent
While we are at it, BTC update:
Weekend report in Reuters on the cryptocurrency, citing Speigel

Role of Luck and Skill

  
  Education
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There is still an element of luck or randomness in the markets. You can research a trade extensively and be absolutely convinced that it will work—but still end up losing money on it. No matter what you do, you won’t be right on 100% of your trades. What does this mean for traders?

As Michael Mauboussin writes in a white paper for Credit Suisse, “Where there is luck, focus on the process”. You can’t control the outcome, because it is subject to some randomness—but you can control the input, which is the process. You want to have a process that allows for the element of randomness but which is still robust and which you can adhere to.

If it’s helpful, think about the distinction between a well thought-out trade that happens to lose money versus one that makes money. The first is a losing trade, while the second position is a winner, because it makes money.  That is just talking about the outcome. But they are both good trades, in the sense that they were put on with careful consideration. Contrast that with a trade that is a winner—i.e. it made money– but was basically an impulsive decision and thus a bad trade. By focusing on the process over the outcome, we should be trying to make a series of good trades and avoiding bad trades like the plague. Over time, the results will take care of themselves.

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