Yuri Molchan

Crypto Investors Breathe Sigh of Relief as Markets Rebound from Recent Low

Crypto market bounces from the recent low, Bitcoin, XRP, ADA and other top-10 and top-20 coins are heading north, but nobody knows for how long
Crypto Investors Breathe Sigh of Relief as Markets Rebound from Recent Low
Contents

The start of the week, Monday, seems to be giving the market a bit of a break from hitting its face against another yearly low. All major assets and 97 percent of all altcoins are in the green zone at the time of writing.

Crypto rises from the crypt

Over the weekend, Bitcoin and the rest of the market showed another drop. The overall market cap slumped to another minimum under $115 mln on Sunday. However, this morning the market reversed and began to rise, recovering a tiny bit of its previous losses.

Bitcoin

Yesterday morning, the market’s major asset, Bitcoin, which lost over 40 percent since the middle of November, dropped under $3,600. Since then, the coin has succeeded in crawling back by 8 percent, rising over $4,050 today. At the time of writing, Bitcoin is sitting at $3,979, having shown a little decline. Numerous experts, including ones from Bloomberg, are expecting a further roll down to the support level of $3,000.

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Ethereum

When all assets were in a free fall, ETH hit the ground even harsher than Bitcoin did — close to $100 per coin. However, today it has recovered to $115 and is presently trading at $114. 52. The coin’s market cap has fallen to $12 bln, with  XRP still ahead of ETH in second position.

Other major market players

On Monday, the majority of altcoins are catching up with their recent loses, in particular those suffered on Sunday. This morning, at the Asian trading session, XLM, LTC and ADA regained double digits from their worst lows this year.

EOS is struggling to push XLM from its fifth position at the moment. EOS outperformed BCH in fourth place just for a short while and then dropped back. Currently, the EOS rate is $3.34. This is nearly 85 percent down from its historic high achieved earlier this year.

Further away from the ‘top-10 club’ coins, other assets, from position 11 to 20, are also demonstrating a recovery. Zcash and Tezos have currently gotten back their double figures. IOTA, NEO and BNB are also right behind them.

Smaller altcoins

Sirin Labs Token spiked 96 percent, driven by a great pump caused by fomo. Monacoin, which lost a great deal on Sunday, got a pump of 40 percent on Monday, recovering its lost digits.

Polymath and Ravencoin are also moving in green presently. The only coins in red at the time of writing are stablecoins TrueUSD and Paxos Standard Token, as well as Dai.

The total market cap has regained around 7.5 percent on Monday, and thus $15 bln is getting back into the crypto market after a terrific loss over the weekend. Altogether, the coins’ market cap is slightly over $130 bln, but this is still 27 percent lower than this value a week ago.

Seems like the market reversal has given the market a sort of a short-term break, even though crypto assets are still on a very low level.

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🤷 Opinions Darryn Pollock

For Bitcoin to Become a Revolution, it Needs its ‘Dot Com Crash’ Moment

Opinions
Whenever there is a crash, panic ensues from those who probably should not be involved in Bitcoin to begin with.
For Bitcoin to Become a Revolution, it Needs its ‘Dot Com Crash’ Moment
Contents

"1/In the dotcom era we watched a promising, but undeveloped, unregulated and open technology called “the internet” result in massive exuberance, fraud and an epic bull run, that was immediately followed by a complete collapse and loss of wealth." February 6, 2018 https://twitter.com/Jason/status/960775425113841664

This tweet sums up my thoughts precisely. Blockchain technology, cryptocurrency, digital tokens, even ICOs and their disruption of the VC market, these are all waves of new technology that have the power to change the way we exist on this planet.

However, Bitcoin and its affiliates, are in their embryonic stages, although quickly evolving, and while people get to grips with the technology behind them, there is this phase of early adoption that is giving a big pay off.

The issue is that people who are uninterested in the whole picture are honing in on the payoff, they are looking at Bitcoin with dollar signs in their eyes and ignoring everything else.

This is leading to some stupid decisions being made, and the shaping of the ecosystem is getting skewed towards these money grabbers. The foundation of the crypto community is starting to be built upon a massive and shaky base of speculative investors.

On the one hand, this has fueled the growth of the Bitcoin market, but the tower which has been built can come crashing down. And on the other hand, that crash could be the best thing for this technology.

Back the tech, not the currency

Now, I am not saying, like many other big banks and centralized systems that Blockchain is the answer and it should be separated from the digital tokens. What I am saying though is people who are entering the crypto community need to be appreciative of the technology and the potential it has to be a disruptive force.

Way back when the white paper was written, their foundations were there for a technology that could change the face of finance, the banking system and the hegemony that was held by centralized money systems.

That message has been diluted as not only the Bitcoin community pushed the digital coin away from its primary function, they have pushed it to be a store of value, which is a move motivated by greed.

Shake out the weak and damaging hands

There need to be a few big changes in Bitcoin for it to get back on track and to be able to match the Internet as a force for change going forward. One of those is that it needs to sort out its scaling issue, in order to move towards being a functional currency, but it also needs to shake off some of the deadweight.

The run up to it's all-time-high was epitomized by a wave of true mainstream adoption. The word Bitcoin was on the lips of cab drivers, hairdressers, doctors and garbage men alike; everyone wanted to know what this magical growing asset was all about.

However, it was less about educating themselves than finding out a way to double an investment in a few days. They bought in, with ease thanks to cryptocurrencies all-inclusive nature, but did not understand what they were buying into, moving more in a speculative direction.

A falling knife

When Bitcoin bucked recently, changing direction sharply in a downward spiral, those speculators were well shaken up, and a mass evacuation occurred which helped the knife fall further and faster.

However, this is not necessarily a bad thing. Those who screamed bubble as they exited sharply were never in it for the right reasons. Those who merely shrugged and rode the lightning, making no moves to exit are now the ones who remain and the ones that will build Bitcoin to be a force in the coming years.

Thank god for the Dot Com burst

It is funny to think that in the Dot Com bubble burst people were declaring this ‘Internet thing’ a scam and a fraud, and celebrating its demise and supposed death. However, it was the speculators and get-rich-quicksters that were merely making room for those who saw the promise.

Bitcoin has shook a lot of the first from its base, but it could still do with another big Dot Com level pop in order for it to grow its full potential.

 

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Vadique Magenta

Three Good Reasons To Keep Calm and Love Bitcoin, Even Now

In his weekly strategical cryptocurrencies price analysis, Vadique Magenta looks at the markets from his angle of a cryptocurrency fund manager.
Three Good Reasons To Keep Calm and Love Bitcoin, Even Now

Hello everyone! My name is Vadique Magenta and I will be telling you about the uneasy daily bread of a cryptocurrency fund manager. There are a few million dollars under my management. So, while for some people a 50 percent decrease in the market might be a walk in the park, for me that park is full of thorny roses.

“I can say that during the market fall on Feb. 2, many gave in to panic. On the CEX.io exchange alone, I saw enormous 12 percent candlesticks when despairing speculators began selling massive amounts of Bitcoin in the hope of salvaging at least part of their funds.”

I have seen this kind of market “cleanse” quite a few times, but continue to react emotionally to these events. Why, then, did I remain calm and continued buying in a falling market?
There are at least three reasons for this.
On the general market capitalization chart, in the global “head and shoulders” figure we can trace the neckline. According to the rules of technical analysis, that kind of figure is realized in zero capitalization, which means only one thing — total annihilation. Is this a possibility for the cryptocurrency market? Absolutely not.

The new market will continue to exist as long as any other human market. The invention of the Blockchain can be compared to the invention of the calendar. Entire industries are experiencing transformation. Therefore, this is not a “head and shoulders” situation, but a commonplace emotional flood. Thank you everyone, nothing more to see here.

Picture #1

The assessment of the current situation is based not only on market capitalization. Today we were at the crossroads of two key lines representing significant supports. At such moments, one feels like a partridge in the crosshairs. It's always very exciting. The first line is the lower boundary of a 142-day old channel. Its $3,000 base holds the impulse for purchases of maximum historic volumes. The second line is the lower boundary of the current downward trend.As we can see, the daily candlesticks of Feb. 2 and Feb. 3 only crossed the dangerous line with their shadows, but the close of the candles ended up being above the key levels both times.

Picture #2

By the end of today, the combination of three daily candles will be completed. If the close of Bitcoin price for the day will be at the $8,900 to $9,000 level or higher, it will be a good sign for a local turnaround with targets of $10,800, $13,600, $15,200 and a potential return to the historic maximums with a $28,000 target.

Picture #3

The third reason why we continue to hold digital assets in our portfolios is the maturing crisis in the US Treasury bond market. The story is very old, but on Friday, Feb. 2 we received an alarming signal with the significant decline in US and European indices. The Dow Jones lost almost 700 points, which is the largest fall in 892 days, while this past week was the worst in the last two years. It’s worth remembering here that Bitcoin is considered to be "digital gold." In the event of the collapse of established financial institutions, it may act as a defensive asset.

Picture #4

It is true that the cryptocurrency market continues to experience pressure from the news cycle, but, in my opinion, it doesn’t have any substantial basis. We are continuing to work according to the scenario that the downward trend will change from the $8,000 Bitcoin price without excluding the possibility of a decline to $7,000.

Wishing you successful trading!

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Daniel Osten

Market Stays Positive as Bitcoin Price Reaches $8,700, but Caution Still Advised

The market is doing well for the second day in a row. Bitcoin price reaches $8,700 but the reversal is not yet official.
Market Stays Positive as Bitcoin Price Reaches $8,700, but Caution Still Advised
Contents

 

Investors have been able to keep up their resolution and initiative by the beginning of Tuesday, so today we have a good chance of seeing the continuation of purchases. Considering that the market experienced the third correction in as many months (Jan. 17, Feb. 6, March 18), the path promises to be thorny, but all the more exciting for that.

Negative tendencies are surprisingly soon forgotten on the cryptocurrency market, and with time more and more players will abandon caution and believe in “eternal growth.” We, however, will remain vigilant, and encourage our readers to do the same.

Market indicators confirm the investors’ mood: Bitcoin price had already reached $8,700, and is now at the level of $8,500; market capitalization grew by almost 6 percent to $335 bln. The underlying asset helped investors to wait out the storm and now gradually repays its debts to altcoins — Bitcoin cominance fell from 45 to 43.5 percent during the day, which is also a good sign in the context of market recovery.

Altcoins skyrocket at the first opportunity after downtrend

The price of some altcoins literally soared into the sky. In the top 10, the absolute leaders were EOS and Cardano — in just two (incomplete) days, both of them grew by 60 percent from the Sunday minimum.

Ripple is in second place — in the past 24 hours, the change is no astonishing, but an increase of 35 percent in the same two days is still an excellent result. The rest of the top assets grew by an average of 15-20 percent from the peak of sales, and 5-8 percent in the last 24 hours.

A supportive news cycle continues to encourage market growth. Yesterday, Yi Gang was appointed as the new head of People’s Bank of China (PBOC), who had earlier spoken positively about Bitcoin and recognized the right of ordinary citizen to use it. It’s too early to say or predict anything with certainty, but a lift of China’s ban on cryptocurrency operations might begin with this appointment?

BTC/USD

Yesterday, the situation developed according to a bullish scenario, so Bitcoin managed to achieve several goals at once. First, buyers were able to protect the level of $8,200 and the 0.618 Fibonacci retracement, and second, they managed to break the upper boundary of the local descending channel (to avoid confusion, we marked it in orange on the chart). Despite the bears’ attempts to return the price to the lower register, the break was quickly recovered by purchases to previous levels.

Market Stays Positive as Bitcoin Price Reaches $8,700, but Caution Still Advised

For the moment, the price is moving not just inside a steep channel, but along a parabola. This growth can’t continue for long, and the bears seem to be in hiding, plotting new schemes against the bulls. Therefore, a slight rollback would be more than appropriate. We believe that it could happen when the price reaches the next boundary of the descending channel: if the parabola will remain relevant by that time, we are talking about the level of $8,870.

After recharging their batteries, buyers will be ready to move on to further prospects in the form of the $9,000 level, and further, $9,400. The latter of these targets is doubly confirmed by the 0.786 and 1.618 values of successively constructed Fibonacci expansions.

In case of a negative development, if the bears have already licked their wounds, we can see a repeated downward break through the channel and a testing of the $8,000 level, which we also wrote about yesterday.

EOS/USD

The minimum price of EOS in the course of the current correction was just under $4. Even though some instruments of technical analysis earlier pointed to a possible price of $3, buyers showed significant interest toward the potential competitor to Ethereum. Clearly, the culmination of sales has passed, and EOS can fall below $4 only in case of an extremely negative and extremely unlikely scenario. A correction to the range of $5.1- $5.4 is much more probable.

Market Stays Positive as Bitcoin Price Reaches $8,700, but Caution Still Advised

Growth targets, on the other hand, are quite clear. With a high degree of probability, the first is $6.8, coinciding with the mirror level of support-resistance, and then $7.9-$8. The second target is confirmed not only by the 1.618 Fibonacci extension, but also by fair price for the asset for the period since beginning of December.

Whether to reduce positions upon reaching this mark is every investor’s personal choice, depending on goals, entry points and the state of the market. From time to time, we will return to this coin and discuss further prospects.

ADA/USD

Out of the top 10 assets, Cardano took the most damage in the course of three corrections. The price minimum was $0.12, although just a month ago that seemed impossible. We will remind our readers: nothing is impossible in the cryptocurrency market!

Market Stays Positive as Bitcoin Price Reaches $8,700, but Caution Still Advised

After the reversal, buyers showed quite a bit of activity, as evidenced by significant trading volumes. The asset managed to break out of the descending channel, but so far the price has not been able to get a secure foothold above it.

In case of continued growth, we see two potential targets — the level of $0.26, coinciding with the minimum of February 6 and now acting as a mirror, and $0.3. In addition to being a psychologically attractive round number, the target is confirmed by the value of 1.618 Fibonacci extension, as well as the fair price since the end of the previous decline.

In case of unpleasant surprises on the part of Bitcoin, we can expect a repeted test of the channel, and if that doesn’t hold — correction to the level of $0.16. However, at the moment, such a scenario seems unlikely.

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🤷 Opinions Katya Michaels

Generational Crypto-Investment Gap: Why Warren Buffett Just Doesn’t Get It

Opinions
When it comes to crypto, old-school investors like Warren Buffett may not be the best guides
Generational Crypto-Investment Gap: Why Warren Buffett Just Doesn’t Get It
Contents

Investment in cryptocurrency is becoming more accessible to both experienced and novice investors, but professional guidance for trading the new asset is not readily available. The abundance of contradictory information in the media leads to further confusion, especially when well-known and respected investors like Warren Buffett voice vehement objections.

In truth, cryptocurrency is an exciting investment opportunity that shouldn’t be missed– nor should it be undertaken in ignorance. To understand how cryptocurrency investment can be approached for a safe and profitable outcome, CryptoComes spoke to Bob Loukas of Bitcoin.live, a cryptocurrency trading platform that provides expert advisement and training to its community, launching today.

Katya Michaels: How did you become interested in cryptocurrency trading and educating investors about this market?

Bob Loukas: I'm a trader going back 25 years– trading futures, forex, gold, stocks. More recently a new booming asset class has emerged where a lot of people are making a lot of money, and losing money as well, though that's probably a story that's not told too often. There is a lot of excitement, and as a trader, you want to be a part of the new asset class, the new opportunity.

From Bitcoin.live’s perspective, it’s about helping people who don't have the experience that the analysts on our platform have. They understand that trading this asset class is in many ways no different to trading other asset classes that exist today because there are the same underlying principles.

It’s such a new industry and I'm seeing a lot of younger people, a lot of millennials, getting involved, drawn in by the potential and the excitement, but they aren’t all necessarily profiting like the media may lead you to believe. With Bitcoin.live we want to bring more of a balanced, experienced voice to the cryptocurrency space, and provide the tools and help that they need to succeed.

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A steady voice for guidance

KM: What kind of media coverage and advice do you think is missing from this space?

BL: I think what's missing is a steady and experienced voice.

You've got a new breed of investors coming in and with that, some social media influencers– people in the trading space who are hiding behind the immunity that social media provides. They are coming across as professionals when they're really not.

They were able to provide trading advice in a bull market when it wasn't so much their expertise, but the fact that all ships were rising and all prices were going up.

Now it’s been exactly five months since December when the market peaked. A lot of people are losing money and those social media personalities either disappeared or they just don't have a clue on how to provide guidance to people.

Our analysts have been through the dot-com boom and the gold boom and the stock boom of 2008 and in some cases, like Peter Brandt, well before that. We want to provide the professional guidance that is lacking today.

Trading crypto vs. investing in the space

KM: Do you think for this particular asset class it is more important to understand the technology behind it or to understand the mechanisms of market trading?

BL: That's a good question because often traders who are looking at price movements over a few days or weeks fall into the trap of trying to understand and align technology, making an argument for buying something on a long-term fundamentals perspective. But really, they are going to be in and out within a week or two. Those two just don’t gel.

You need to understand if you’re a trader and you're trading price movements or if you're an investor who is looking at a coin and trying to understand whether this is a technology that's going to survive the next crash or regulatory overhead.

As an investor, you need to figure out whether it's going to be the one that gets adoption, which eventually results in utility, which eventually obviously means more of a long-term profit. So, for trading? No, it's not important to understand technology. It's about how the price is moving. If you're an investor, you really should know what you're investing in.

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Horses for courses: old and new investment strategies

KM: What do you think prevents investors like Warren Buffett from being Bitcoin enthusiasts despite their extensive experience? How can they be wrong?

BL: They’re not wrong. I think it's just a matter of someone's comfort zone and what's worked for them. Why get into another realm where they don't have the expertise? It's just too far removed from what they’ve known and what they’re best at doing.

Back in the nineties during the dot-com boom, Berkshire Hathaway stock was grossly underperforming the market because Buffett also didn't understand that technology and he basically said, I can’t invest in something I don't understand. It's a similar thing, it’s a similar dynamic. Even his investments in Apple and IBM only came very recently because they now fit his fundamental, Graham philosophy on stock investing– with cash flows, profits and a better understanding of valuation.

It's just a matter of horses for courses. People need to feel comfortable with where their money's going, and they should. If they don't understand crypto, I actually recommend that they don't make that leap of faith.

It's better to be in a world where you understand what you're investing in and why, as opposed to being completely lost.

KM: What about Bill Gates? He understands technology and was a big part of the Internet innovation period. Why is he so vehemently against crypto?

BL: I feel as if this is more of a one-off case– Microsoft was often behind the curve on technology adoption. They were very good at acquiring companies when they were falling behind and staying relevant in that sense, but they weren’t necessarily known as a forward innovator.

I think Gates doesn't really represent that group of past-generation innovators and early adopters. There are a lot of old-school tech gentlemen and founders who really embrace Bitcoin today.

I feel that Gates really adopted the Buffett mindset, and describes him as a mentor, as well.

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Investment for novices: setting specific goals

KM: With that in mind, what are the most important things that potential investors need to know and understand about cryptocurrency to help them make informed decisions?

BL:

It comes down to the question I always ask: what is your goal? Are you a trader? Are you active? Or do you just want to get some overall exposure to a new industry and not be left behind from a portfolio standpoint?

Let's take the investment side. You may just want to have about five percent of the portfolio as an investor in Blockchain. You want to be with the blue chips of crypto– obviously, Bitcoin is number one by far. Then, you also want understanding what Bitcoin is, get an overview of the technology, read the white paper. There are plenty of resources out there to understand what Bitcoin and the Blockchain technology is all about.

If you’re trading, it's about understanding risk management, trade management, the psychology of trading. There are fundamental trading skills that I feel everybody should learn if they are going to buy and sell any security or any asset class.

There are a lot of free resources out there for learning the basics. Bitcoin.live is different in that we are more analyst driven and much more tailored to crypto. We are talking about what Bitcoin is doing this week, and why, and how you could have traded the move, and what you should look out for from a risk standpoint.

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Regulatory stability will help mitigate risks

KM: How will clarity in regulation change the conditions for investment in the space? Will it legitimize crypto in the eyes of institutional investors and maybe even old school investors like Buffett?

BL: It’s two parts, in my mind. First of all, I’m more of a libertarian when it comes to regulation. I'm a capitalist, so my philosophy is very few regulations, but the ones that are implemented should make sense and should be enforced.

Second, I think we do need clarity across the board with all the agencies on what regulations are going to be put in place, and we need to get to that resolution quicker. Then, the capital markets can feel a little more confident that there's some stability in regulatory space where they can risk that capital. Right now they're concerned about making significant investments in this space because they don't know if their investment is going to get shut down by the SEC or some other regulatory body. And that's not good for the industry as a whole.

Without the lack of regulation today, there is rampant ICO scamming taking advantage of people’s gullibility. It happens in every big bull market – they're getting in as fast as they can, throwing up white papers over a weekend and raising in some cases millions of dollars.

Scams aside, some ICOs are legitimate, but they just really don't have any chance of coming to fruition over time. The intention is potentially good, but it's just not going to happen for 99.5 percent of those companies.

The more ICO failures we get, the more the Buffetts of the traditional investing world will look down on the space as being too immature for them to be seriously engaged and involved. That's just not good for the long-term viability of the industry.

Clearly defined Bitcoin cycles

KM: What are the Bitcoin’s trading cycles telling us about the asset?

BL: I've been mapping out Bitcoin cycles over the last couple of years.

I'm actually not surprised, but what we are seeing in the Bitcoin space is a very clearly defined 60-day cycle.

Of course, there are going to be shorter cycles and certainly, there will be long cycles over time, but I think we're still a little early in this technology for those to really shine and be very evident.

Right now we're near a 60-day cycle low, during which you normally get this really big “this is the end of Bitcoin as we know it” sell off. That happens every cycle low, and then you get this big reversal and swing in sentiment. Unfortunately, the cycles are telling me that we're still in a downtrend.

Even though after the cycle low we can get a really sizable rally over a month where the price can go up by $2,000 or $3,000, until I see real evidence that we’re broken out of a downtrend, I have to assume that the bear market is still in control.

That's where I see us right now– on the verge of another cycle rally, then probably another turn over the summer and into a cycle low, with maybe the end of the bear market coming in August.

But I don't know. I trade what the market is telling me as opposed to hoping and guessing where it could be.

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Bridging the crypto-generational gap

KM: A lot of people are shocked by the volatility of the crypto market as compared to the traditional stock markets. Has there been anything similar in terms of volatility, or is this the most volatile asset ever?

BL: Yes, I think it might be the most volatile, but volatility is actually decreasing pretty sharply from 2012-2014. As you get a wider adoption and you get more experienced participants from traditional markets, then you expect volatility to come down.

You also have to realize when you look at something like Bitcoin, it's not traditional in every way. Coins came on the market suddenly in 2009-10 and were traded for pennies. Nobody knew what these things were.

Gold doesn't have intrinsic value, we know that, but at least it has a couple of thousand years of relevance. This technology is just so different and new it just makes absolute sense that it’s got this type of volatility.

KM: When do you think crypto trading will become the new normal? When will we hit do you the tipping point when most people will be owning and trading cryptocurrency?

BL: There is a big divide out there. If you ask a room full of 20 and 30-year old traders, you're going to find that a big portion of them are trading cryptos only, have never traded a single stock in their life and have no interest in trading those stocks.

Then you've got the more traditional Schwab and TD Ameritrade accounts who go “Bitcoin? Crypto? What is that? Let me go onto Coinbase and try this out with my credit card.” I don't know if that divide will necessarily get bridged.

Certainly, once we get more clarity from the SEC and get more ETF product out there that can be bought and sold through a traditional broker– then I think you'll get wider adoption and more mainstream traders buying and selling crypto.

KM: It's interesting that this kind of contentious, volatile asset may actually serve as an entry point into the traditional markets for the younger traders.

BL: Exactly. The traditional brokers know that if they can offer a platform to trade crypto, they will have a customer base for decades after. And if they don’t get into this space, they're going to age with the boomers and generation X’s. So they need to get in and I think they will also put pressure on the regulatory bodies to allow them to start trading these cyber securities because they'll lose out if they don't.

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Cryptotips

CryptoTips: Picking a Cryptocurrency Exchange

💡 Cryptotips
Whether you are a day trader or a Hodler, at some point you’ll have to use a cryptocurrency exchange
CryptoTips: Picking a Cryptocurrency Exchange
Contents

Cryptotip #1:

Make sure that any exchange you select is reputable. You will actually be giving custody of your digital tokens (or your fiat money) to the exchange for a time, so make sure they won’t steal it. Do your research and preferably pick a big exchange that’s been around for awhile.

Cryptotip #2:

Security is paramount; make sure the exchange you pick has a reputation for keeping fund secure. Hackers can strike at any time, and your chosen exchange should have highly secure systems, keep most user funds in cold wallets and use industry best-practices. They should also offer two-factor authentication (2FA) which requires you to enter a code generated by your phone when logging in, for extra security.

Cryptotip #3:

Understand the exchange’s fee structure. Particularly if you are going to be day trading, fees can make a huge difference in profitability. Be careful of so-called “zero fee” exchanges because some make up for their low or non-existent fees by charging a “spread” or a large withdrawal fee. Exchanges have to make money some way- make sure you understand how!

Cryptotip #4:

Day traders will want access to advanced order types, like stop-loss, stop-limit, take-profit and others. Make sure the exchange you choose has the functionality you need.

Cryptotip #5:

Many users of exchanges will find themselves needing customer support at some point. Make sure you have a way to get in touch with customer service representatives and that your exchange has a reputation for quality and speedy service.

Cryptotips
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