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Crypto Currencies Being A Profitable Rollercoaster

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Vandana Mrigwani Follow

INDIA

Mar, 01 2021

Mar, 01 2021

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Cryptocurrencies maneuver up and down by 15% daily. Such price changes are referred to as volatility. But what if this is often totally normal and sudden changes are among the characteristics of the cryptocurrencies allowing you to form an honest profit? Secondly, cryptocurrencies' character is more sort of a "store of value" (like gold had been within the past). With the fastest ones, the transfer takes even just a few seconds (up to a minute), making them an excellent asset for brief-term trading, if currently there's no good trend on other sorts of assets. 

 

What everyone should bear in mind - that speed also goes for the lifespan trends on cryptocurrencies. While on regular markets, trends might last months or maybe years - here, it takes place within even days or hours. This leads us to the subsequent point - although we are speaking a few markets worth many billions of folks dollars, it still very bits compared to daily trading volume compared to traditional currency market or stocks. Therefore one investor making 100 million transactions on the stock exchange won't cause a huge price change. Still, on the scale of the cryptocurrency market, this is often a big and noticeable transaction. 

 

As cryptocurrencies are digital assets, they're subject to technical and software updates of cryptocurrencies features or expanding blockchain collaboration, making it more attractive to the potential investors (like activation of SegWit caused the value of Bitcoin to be doubled). These elements combined explain why we are observing such huge price changes in the price of cryptocurrencies within a few hours, days, weeks, etc. But answering the question from the primary paragraph - one among the classic rules of trading is to shop for cheap, sell high - therefore having short. Still, strong trends every day (instead of way weaker ones lasting weeks or months like on stocks) give far more chances to form an honest profit if used properly. 


likes | comments 3

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Vandana Mrigwani

CBW - External Analyst

INDIA

14 Mar 2021

Cryptocurrency is a profitable rollercoaster now.

14 Mar 2021

Cryptocurrency is a profitable rollercoaster now.

14 Mar 2021

Cryptocurrency is a profitable rollercoaster now.

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