Be careful which platform you choose for investment - Page 21 - For Beginners - CryptoTalk.Org Jump to content
lharost

Be careful which platform you choose for investment

Recommended Posts

Yes it's right that to be careful because there will be more fake sites that we may get cheated. So before investment think about money losing and take precautions before losing money. 

Share this post


Link to post
Share on other sites

Hmmm, it is true that there are many sites where there is a lot of risk to invest. Many people are at a loss by investing in these sites. In my opinion, yobit is a good site where you can invest for sure.  You can reject your investment.

Share this post


Link to post
Share on other sites

My dear friend needs to gain good knowledge about investing while investing.  There are many investment sites online.  You need to invest in reliable investment sites.  If you do not invest in trusted sites, you are likely to be in trouble.  I like Yobit very much. Yobit is a very reliable site.  You can invest in this site. Thank you.

  • +1 1

Share this post


Link to post
Share on other sites

Platform you choose it must be real and trustworthy because there is lots of farad in shape of wrong website and its no run for a long time so first you get information about platform you choose then you work on this

Share this post


Link to post
Share on other sites

Absolutely right there is no doubt for investing in the forum you should know where you to go invest before you should know every history of the forum. I invest in the yobit and I know the history of yobit. So I'm careful here.

Share this post


Link to post
Share on other sites

Yeah this is very much important for us to choose a good platform for investment. Because there are many fake sites . I personally prefer to cryptocurrency instead of investment because it is risky .

Share this post


Link to post
Share on other sites
On 7/7/2020 at 12:41 PM, kitekite24 said:

As a beginner like you my friend I think sometimes that I will go to investment when i earn my first earnings here but I don't know what are things happen there and I can assure one thing that in investment there is a lot of scammer so before we invest newbies we must learn first how things are going don't be so greed with increasing our money because it will loss if we become not careful.

I did the same thing when I earned my first cryptocurrency reward in my work which really profitable that's why if we don't want to loss our investment then we should choose wisely our investment platform. 


Free satoshis and bnb every 20 minutes here: https://betfury.io/?r=5fadf2e24229531209b94c8c

Share this post


Link to post
Share on other sites
On 7/6/2020 at 2:51 PM, lharost said:

Since recently a huge number of investing platforms created I felt that it was needed to give a little warning to those that are new to crypto or investing area, first of all you have to remember that any platforms that promises to give you a big return in a short period of time is scam until proven otherwise.

 

Obviously 10% a day is not achievable so don't fall for those returns, in addition to that only invest in platforms that are trustworthy and have a certain good reputation, for example any investing opportunity provided by known exchanges like Binance, kucoin, Yobit or other known exchanges can be trusted so try to stick to them for investing instead of some random investing platform that you just found on twitter or something.

 

One other important thing is to always keep in mind that the coin that you choose to hold and invest on unless it's a stable coin can have a drop and decrease in price in that period of time that you are invested in it so either just invest in stable coins or do your own due diligence and pick the best investing opportunity not necessarily the highest return.

@lharost yeah bro you are right nowadays we are watching on daily basis Much investment sites but they are really not good for investment. Because 90% websites are working under scammers.  They want to scam us with any way like telegram any other duplicate websites or from our gmails. We should be careful from these cameras don't trust them. And just invest there where you have trust. 🥰

Share this post


Link to post
Share on other sites

Thanks for all these information you have given. I agree with you,too. When choosing the exchange you want your trading in, be careful that it has decent volume so you could buy and sell at all times at market prices. Second, some exchanges provide an insurance fund if something goes wrong and some exchanges don't. Choose wisely. And third, security if svery important so choose the exchange that has a decent history about safeness. Good luck

  • +5 1

Share this post


Link to post
Share on other sites

We must use any well reputed exchange for trading in cryptocurrencies. A lot of exchanges who have scammed people have been reported. Some exchanges who don't have good security can be hacked  easily.


                                                    BetFury                                                   

🐥Twitter | 📩Telegram | 🎲 You play - We pay 🎲 | YouTube 🍿| Reddit  🕹

                                                  Free BTC 1 800 Satoshi every day                                               

Share this post


Link to post
Share on other sites

Yes it is important for us to know which platform we are investing on because their are many scammers that are opening a lot of platforms which if we are not careful we can be a victim and with that we will loose our money 

  • +5 1

Share this post


Link to post
Share on other sites

When considering an investment in the cryptographic world, you have to consider several elements, such as these: what is the business, how it operates, where the resources come from, those who manage the business, have a reputation, are known, analyze the platform . Take into account the scammers, you have to investigate to know if it is reliable, you have to estimate the cost of the investment, the rate of return, the recovery time, the currency, the interest generated, the market, the competitors, the environment, political, legal, social among others. It is recommended to make investments in recognized, prestigious and accented platforms for a long time so as not to fall into scams or in projects that are going to fail.

Share this post


Link to post
Share on other sites
On 12/11/2020 at 11:58 AM, Cryptonas said:

I totally agree with you. A lot of members are victims in one way or the other due to investing on wrong platform or picking the wrong currency for trading. 

This sounds as warning for the new members who has no idea or any background information on trading platform. So it is advice able to always ask questions or do some research about the platform or the coins that are good for trading because you are dealing with capital and time which is very important. Questions, do your own research and seek advice from experts...

@Cryptonas You are right mate. Some members has fall into victim for investing on the cryptocurrency they don't have knowledge forgetting the fact that it can drop and also investing in the site that dosent has a good reputation too and this is the reason its always good to make a research on the site one wants to invest and also proper research should be made on the cryptocurrency one wants to invest on.

Share this post


Link to post
Share on other sites

Obviously my dear, I agree with you. In this time a lot of investment site are waiting for your invest.. But most of the site are fake, if you invest those site, you will lose your money. I also lose my money for investing a fake site. So always be careful for investment, you research about this site properly then invest. You also see the created date of the site, Because most of the scam site stay one or two month. 

Share this post


Link to post
Share on other sites

I think many new person lose their money every day because they invest in untrusted platform .  We all knows that there are many fake sites in online work. There are many scammers. I think yobit is the best exchange for investing. I suggest you to use this exchange.

  • +1 1

Share this post


Link to post
Share on other sites

There are a several  platforms  for investment .But most of them are fake and scam.So be carefull for chosing platform to  investment.In my opioin cryptotalk  is the best platform for investments .Because it is safe and secure for earnings.I like it very much.

Share this post


Link to post
Share on other sites

Very good and interesting topic. You should to be careful before your investment and carefully you should to choose the platform. Because there are many chances to lost the money. So i suggest you Cryptotalk platform is better. 

Share this post


Link to post
Share on other sites

Since u raised an important question which is frequently asked and it is all about the trust and facilities that specific exchange platform offers. Now I would like to prefer Yobit as it is trustworthy and reliable. You can invest in your desired events like dice and investbox and some hot IEOs

Share this post


Link to post
Share on other sites

We all have to be very careful and watchful before engaging in any type of investment, we should enquire first and ask does who has experience, skills and knowledge about where to invest, trade and minex because lot of sites are scammers, looking for who will fall a victim, we can do much research and make requirements before engaging in any form of investment, and mining.

Share this post


Link to post
Share on other sites

I meditate this kind scam website's are replace gives cumbersome send support offer's, that's the logic accordingly numerous members outstandingly new members cascade their traps and invest  funds, while time cycle locks of hair and send earlier era comes after that this platform make scam, next this platform users realizes  they damage their funds, consequently don't have faith in in perceptiveness easily spread offers no more than invest in trusted platform's like our yobit exchange.
Useful or attractive
 

Share this post


Link to post
Share on other sites

There is a possibility of loss if you do as much experience as you need to invest without it.  Those who are new to investing get their losses only when they go without understanding anything.  Good coins and all the coins that have a good position in the market have to be invested in such crypto coins.

  • +1 2

Share this post


Link to post
Share on other sites

Thanks @lharost for the heads-up. This is a common problem and many new members fall victim to such scams and end up loosing a lot of money. I too have fallen victim to this trap but now I have learned my lesson and I do research before investing in any platform. 


BitCNY giving away 1500$ worth of tokens

Website: https://bitcny.app/

Bot Link: https://t.me/BitCnyBot?start=r03654319640

Ends/Withdrawal: 15 January

Share this post


Link to post
Share on other sites

You are right mate because it pains me a lot when the newbies complain on how they lose money on daily occasions in these platform that are not recognize rather a scamming platform pretending to be standard and most of the new failed to make enquiries on which platfom are they to make there investment on. Well my advice to anyone trying to make investment should always make enqiury here in the forum in other to avoid been scammed. @Mark wood

  • Useful or interesting 1
  • +1 1
  • +2 1

Share this post


Link to post
Share on other sites
23 minutes ago, The Game said:

You are right mate because it pains me a lot when the newbies complain on how they lose money on daily occasions in these platform that are not recognize rather a scamming platform pretending to be standard and most of the new failed to make enquiries on which platfom are they to make there investment on. Well my advice to anyone trying to make investment should always make enqiury here in the forum in other to avoid been scammed. @Mark wood

Well it is essential mate before investment we have to do research about the site and coins as well because a small mistake can lead to huge loss and we have to be far away from being scammed so yes I'm agree with you to have knowledge before investment so that will be better..

  • +1 2

Share this post


Link to post
Share on other sites
36 minutes ago, Fariha11 said:

Beginners are more likely to be susceptible with scamming platforms, in my opinion you should be keen and be wise during this time because like what you've said that there are new platfirms that were created with this kind of intention. We should be observant and do some researching first if that certain platform is truly reliable or not.

It's in their responsibility to do their research before investing in anything including investing platforms, and if they don't they are solely to blame for their loss.

 

When you just start working in a different space and don't know much about it you have to do two things at first:

 

1: Do some basic research to get some kind of a clue what is it all about.

2: Ask other people's opinion who have more experience than you about the matter.

 

If you skip one of these two you're doing it wrong and remember that even experts could use some advice, so no matter how experienced you think you are there's nothing wrong with making sure you're on the right path.

 

Edited by lharost
  • +2 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

  • Topics

  • Сообщения

    • Маю ще 3 инвайта  Зареєструватися в BLUM
    • Дорогие друзья, на нашем сайте действует акция, 300 рублей на карту за два оставленных отзыва. Обязательное условие, нужно совершить обмен на сумму от 5000 рублей.  По всем направлениям минимальная сумма заявки 5000 рублей! Получить информацию, где нужно оставить отзывы, вы можете на странице выполненной заявки или у оператора.
    • Добрый день, форумчане! Официально: Notcoin листят на Bybit 16 мая 2024. Хотели бы получить от вас обратную связь, желаете ли вы видеть монету Notcoin от телеграмма у нас в списке криптовалют? Благодарим вас, сервис обмена криптовалют cryptonet.pro
    • Заработать после Notcoin? Легко, заходим в BLUM.          Многие говорят об этом проекте, который представляют бывшие топ-менеджеры биржи Binance Владимир Смеркис, Глеб Костарев и Владимир Масляков.Что нужно делать? Переходим в бота; Жмем «Create account»; Вводим никнейм; Нажимаем «Start farming».На этом все. Далее каждые 8 часов заходим в бота для получения поинтов и снова запускаем фарм
    • ТОП-7 разлоков предстоящей недели             CryptoRank поделился крупнейшими разлоками токенов предстоящей недели ARB — $92.35 млн;STRK — $77.27 млн;SEI — $62.9 млн;UNI — $58.89 млн;IMX — $56.92 млн;LMWR — $40.01 млн;MANTA — $22.78 млн.   Довольно много разлоков токенов крупных проектов: StarkNet, Arbitrum, Sei. Возможно, появится хорошая возможность откупить некоторые из них.
    • Кто-то в начале не только догов, но и сатош прилично насобирал на кранах. Если б знать как все будет, и какой будет цена на них, действительно можно было бы хорошо заработать)
    • В первом квартале 2024 года компания Marathon Digital зафиксировала рост выручки на 223% по сравнению с аналогичным периодом прошлого года и увеличение скорости хэширования на 142% за счет новых продуктов и приобретений. Тем не менее Marathon Digital, не оправдала ожиданий по доходам, установленных аналитиками Уолл-стрит в отчете за первый квартал 2024 года. Фирма назвала неблагоприятные погодные условия и неисправности оборудования факторами, способствовавшими снижению производительности. Марафон цифровых неудач в производстве По данным инвестиционной аналитической компании Zacks, несмотря на рост выручки на 223% в годовом исчислении до $165,2 млн, как было объявлено 9 мая, показатели компании по-прежнему отставали от прогнозируемой оценки в $193,9 млн на 14,80%. В первом квартале 2024 года Marathon Digital сообщила о добыче 2811 BTC на сумму 176,7 миллиона долларов, что на 28% больше, чем в предыдущем году. Однако это на 34% меньше, чем 4242 BTC, добытых в четвертом квартале 2023 года. Генеральный директор Marathon Фред Тиль рассказал о результатах деятельности компании во время телеконференции по финансовым вопросам 9 мая. Он сказал, что сбои в производстве были вызваны неожиданными отказами оборудования, особенно трансформаторов на сторонних площадках, сильными перебоями в работе, связанными с погодными условиями во многих местах, а также техническим обслуживанием линий электропередачи коммунальными компаниями.   Фирма отметила, что неблагоприятные погодные условия повлияли на ее объект в Гарден-Сити в центральном Техасе и другие объекты, включая недавно приобретенный объект в Техасе по состоянию на 2 апреля. Несмотря на эти проблемы, компания работала с «рекордной скоростью» в 27 эксахэшей в секунду. Тиль подчеркнул цель компании достичь 50 EH/s к концу года, которая в конце апреля была пересмотрена в сторону повышения с 35 до 37 EH/s. Тиль отметил, что Marathon смогла адаптироваться и преодолеть операционные проблемы в первом квартале. Фирма перераспределила оборудование на вновь приобретенные объекты, пока шел текущий ремонт. В течение квартала Marathon также представила несколько новых передовых продуктов, в том числе Slipstream, направленный на повышение скорости транзакций биткойнов, и плату управления MARA UBC 2100, предназначенную для повышения эффективности майнинга. Благодаря стратегическим приобретениям Marathon увеличила свои мощности по добыче полезных ископаемых до 1,1 и в настоящее время работает на 54% от своей общей мощности. Акции Marathon в первом квартале превзошли ожидания Marathon Digital сообщила о прибыли на акцию в первом квартале в размере $1,26, что поначалу казалось значительно выше прогнозируемых Уолл-стрит $0,02. Однако эти цифры несопоставимы напрямую, поскольку компания приняла недавно утвержденные FASB правила учета по справедливой стоимости. Корректировка рыночной стоимости была благоприятной, чему способствовал существенный рост цен на биткойны. После отчета от 9 мая акции Marathon Digital (MARA) упали примерно на 2,19% и закрылись на уровне $19,65, с дополнительным снижением на 1% в торговле в нерабочее время по данным Google Finance. С начала года цена акций компании упала на 14,30% с момента достижения пика в $31,03 28 февраля 2024 года.
    • Forex and Cryptocurrency Forecast for 13 – 17 May 2024 EUR/USD: Medium-Term Outlook Favours the Dollar   Throughout the past week, EUR/USD exhibited mixed dynamics, primarily driven by expectations concerning potential interest rate cuts by the US Federal Reserve (Fed) and the European Central Bank (ECB). Statements by officials from both central banks, as well as economic macro-statistics, either heightened or lowered these expectations.    The EUR/USD bullish rally commenced on 16 April from the 1.0600 mark, reaching a peak of 1.0811 on 3 May, after which growth stalled, starting the past week at 1.0762. On Monday, 6 May, statistics from the Eurozone provided some support to the common European currency. In April, the Services Purchasing Managers' Index (PMI) rose from 52.9 to 53.3, exceeding the forecast of 52.9. The Composite PMI, which includes the manufacturing sector and services, increased from 51.4 to 51.7. Germany's Composite PMI also showed positive dynamics, rising from 50.5 to 50.6. Consequently, business activity in the Eurozone reached its highest level in almost a year. Moreover, retail sales in the region showed significant growth, rising from -0.5% to +0.7% year-on-year.   This news backdrop suggests potential inflation growth, which in theory could deter the ECB from initiating a monetary policy easing. However, ECB Chief Economist Philip Lane stated that the Executive Board of the bank has compelling arguments for a rate cut at the 6 June meeting. Another ECB representative, Lithuanian Central Bank head Gediminas Simkus, indicated that rate cuts should not be limited to June, suggesting it could happen thrice by the end of the year. However, while the likelihood of easing (QE) in June is near 100%, there is some uncertainty regarding further steps. ECB Vice President Luis de Guindos admitted that the regulator is cautiously forecasting any trends beyond June.   In addition to ECB officials' statements supporting easing, statistics released on Tuesday, 7 May, also contributed. They showed that manufacturing orders in Germany, the locomotive of the European economy, decreased by 0.4% in March after a 0.8% decline in February. As a result, the EUR/USD pair's growth halted, pulling back to 1.0723.   The pair made another attempt to break through the strong resistance zone of 1.0790-1.0800 on Thursday, 9 May, when US initial jobless claims data was unexpectedly reported at 231K, much worse than the expected 210K. This coincided with a widespread negative session for US yields along the curve. The situation worsened as the unemployment data confirmed concerning statistics released on 3 May. According to the US Bureau of Labor Statistics (BLS), non-farm payrolls (NFP) rose by just 175K in April, significantly below the March figure of 315K and market expectations of 238K. The employment report also showed an increase in unemployment from 3.8% to 3.9%.   Besides combating inflation, the Fed's other declared main goal is maximum employment. "If inflation remains stable and the labor market strong, it would be appropriate to delay rate cuts," stated Fed Chair Jerome Powell. Now, the strength of the labour market is in question. However, the Fed is likely to focus on fighting inflation, which is still far from the 2.0% target.   A key inflation indicator tracked by the Fed, the Personal Consumption Expenditures (PCE) Price Index, rose from 2.5% to 2.7% in March. However, the ISM Manufacturing PMI fell below the key 50.0 mark, dropping from 50.3 to 49.2 points. Remember, a level of 50.0 separates economic growth from contraction. In such a situation, raising the interest rate is inadvisable, but lowering it is also not an option. This is exactly what the FOMC (Federal Open Market Committee) of the Fed did. At its meeting on Wednesday, 1 May, its members unanimously left the rate unchanged at 5.50%. This is the highest rate in 23 years, and the US central bank has kept it unchanged for six consecutive meetings.   The main scenario foresees the Fed beginning to review the rate towards a decrease no earlier than autumn, likely in September, with another cut by year-end. However, if US inflation does not decline or, worse, continues to rise, the regulator may abandon monetary policy easing until early 2025. Thus, considering the above, many analysts believe the medium-term advantage remains with the dollar, and EUR/USD is still attractive for sales with a horizon of several months.   The final point of the week for EUR/USD was at 1.0770, making the weekly result almost zero. Regarding the forecast for the near term, as of the evening of 10 May, it is maximally neutral: 50% expect dollar strengthening, and 50% expect its weakening. Trend indicators on D1 are equally divided: half are on the side of the reds, and half are on the side of the greens. Among oscillators, only 10% voted for the reds, another 10% remained neutral, and 80% voted for the greens (although a quarter of them are already signalling overbought conditions). The nearest support for the pair is located in the 1.0710-1.0725 zone, followed by 1.0650, 1.0600-1.0620, 1.0560, 1.0495-1.0515, 1.0450, 1.0375, 1.0255, 1.0130, and 1.0000. Resistance zones are in the regions of 1.0795-1.0810, 1.0865, 1.0895-1.0925, 1.0965-1.0980, 1.1015, 1.1050, and 1.1100-1.1140.   In the coming week, on Tuesday, 14 May, consumer inflation data (CPI) in Germany and the Producer Price Index (PPI) in the US will be released. Also scheduled for this day is a speech by Fed Chair Jerome Powell. The next day, Wednesday, 15 May, important indicators such as Consumer Price Index (CPI) and retail sales volumes in the United States will be published. On Thursday, 16 May, the traditional number of initial jobless claims in the US will be announced. And at the very end of the working week, on Friday, 17 May, we will learn the Eurozone CPI as a whole, which may influence the ECB's decision regarding the euro interest rate.   GBP/USD: Pound Remains Under Pressure but Holds On   At its meeting on Thursday, 9 May, the Bank of England’s (BoE) Monetary Policy Committee maintained the interest rate at 5.25%, the highest in 16 years. Economists polled by Reuters mostly expected borrowing costs to remain unchanged, with a committee vote ratio of 8 to 1. However, the vote was 7 to 2. During discussions, two committee members supported a rate cut to 5.0%, which market participants interpreted as a step towards the beginning of a policy easing cycle.   At the post-meeting press conference, BoE Governor Andrew Bailey expressed optimism, stating that the UK economy is moving in the right direction. Bailey also noted that “a rate cut next month is quite possible,” but he intends to wait for data on inflation, activity, and the labour market before making a decision. Chief Economist Huw Pill, although he joined the majority in voting to keep the rate unchanged, also expressed growing confidence that the time for a reduction is approaching. He added that “focusing only on the next Bank of England meeting [20 June] is somewhat unreasonable” and that “medium-term inflation forecasts do not necessarily signal rate movements at the next or subsequent meetings.”   Overall, the movement of the GBP/USD pair last week resembled that of the EUR/USD pair. The chart shows a distinct surge on Thursday, 9 May, triggered by data indicating a cooling US labour market. The pound was also supported by optimistic GDP data for the UK for Q1 2024 and manufacturing sector data for March. GDP (quarter-on-quarter) rose by +0.6% after a decline of -0.3% in the previous quarter (forecast +0.4%). Additionally, the GDP grew by +0.2% year-on-year, recovering from a fall of -0.2%.   As with the euro, the pound is under pressure from the prospect of earlier monetary policy easing by the BoE compared to the Fed. However, the British currency ended the past week above the key 1.2500 level, at 1.2523. Moreover, 65% of analysts expect the pair not only to hold above this horizon but also to continue its growth. The remaining 35% voted for the pair's movement south. As for technical analysis, trend indicators on D1 are split 50-50. Among oscillators, only 10% recommend selling, 40% took a neutral position, and 50% recommend buying (10% of them signal overbought conditions). If the pair rises, it will encounter resistance at levels 1.2575-1.2610, 1.2695-1.2710, 1.2755-1.2775, 1.2800-1.2820, and 1.2885-1.2900. In case of a fall, it will face support levels and zones at 1.2490-1.2500, 1.2450, 1.2400-1.2410, 1.2300-1.2330, 1.2185-1.2210, and 1.2070-1.2110, 1.2035. The upcoming week's calendar highlights Tuesday, 14 May, when data from the UK labour market will be released. Also of interest is the Inflation Report hearing scheduled for Wednesday, 15 May.   USD/JPY: $50 Billion Interventions Wasted?   It seems that until the Bank of Japan (BoJ) takes confident and clear steps to tighten its monetary policy, nothing will help the yen. At its meeting on 26 April, the board members of this regulator unanimously decided to leave the key rate and QE program parameters unchanged. Expectedly tough comments on the outlook were also absent. This inaction increased pressure on the national currency, sending the USD/JPY pair to new heights. It continued its cosmic saga, reaching a new 34-year high of 160.22. Following this, Japan's financial authorities finally decided on a double currency intervention. Although there was no official confirmation, experts estimate its total volume at $50 billion.   Did it help? Judging by the USD/JPY chart, not really. The pair headed north again last week. Unlike the euro and the British pound, the yen barely reacted even to weak US labour market data on Thursday, 9 May, only slowing its decline.                    All this occurs amid endless statements from the Japanese Central Bank and Ministry of Finance about their readiness to take necessary measures to reduce speculative pressure on the national currency. The published minutes of the BoJ meeting show that most board members took a "hawkish" stance, calling for a rate hike.   However, many analysts believe that the Bank of Japan will take only one such step in the second half of the year. The last chord of the past five days sounded at 155.75. Economists at Singapore’s United Overseas Bank Limited (UOB) expect the USD/JPY pair to trade in the 154.00-157.20 range in the next 1-3 weeks. UOB also believes that the chances of it falling to 151.55 have significantly diminished. Overall, most experts (70%) simply shrug their shoulders in uncertainty. The remaining 30% persistently expect the yen to strengthen. As for technical analysis, 100% of trend indicators on D1 look north. Among oscillators, 50% are such, 15% point south, and 35% point east. Regarding support/resistance levels, traders should note that with such volatility, the slippage can reach many tens of points. The nearest support level is around 155.25, followed by 154.70, 153.90, 153.10, 151.85-152.25, 151.00, 150.00, after which come 146.50-146.90, 143.30-143.75, and 140.25-141.00. Resistance levels are 156.25, 157.00, 157.80-158.00, 158.60, 159.40, and 160.00-160.25.   Events of the upcoming week include the release on Thursday, 16 May, of preliminary GDP data for Japan for Q1 2024. No other significant publications regarding the Japanese economy are expected in the coming week.   CRYPTOCURRENCIES: A Week of Reflection and Uncertainty     What will happen to bitcoin in the foreseeable future? It seems there is no clear answer to this question. Experts and influencers often point in opposite directions: some shoot for the stars, while others keep their eyes on the ground.   For instance, according to the founder of Pomp Investments, Anthony Pompliano, bitcoin is "stronger than ever." He concluded this based on the 200-day moving average (200 DMA) reaching its ATH (All-Time High) of $57,000. Michael Saylor, CEO of MicroStrategy, is also optimistic. In his latest message, he urged investors to "run with the bulls." (It should be noted here that MicroStrategy holds 205,000 BTC on its balance sheet, so Saylor's bullish calls are quite understandable. He simply has to do this for his company to profit rather than incur losses).   However, analysts note that bitcoin's fate depends not only on the rosy calls of the MicroStrategy CEO. And if buyer support weakens, BTC could break through the key support level of $61,000, falling to the $56,000 zone, where significant liquidity is concentrated. MN Trading founder Michael Van De Poppe does not rule out another correction to around $55,000. However, the specialist quickly reassures investors, stating that this is quite acceptable as long as bitcoin holds above $60,000. Anthony Pompliano believes that the price will not fall below $50,000, and another expert, Alan Santana, does not rule out a drop to $30,000.   Trader and analyst Rekt Capital believes that the first cryptocurrency has exited the post-halving "danger zone" and entered the initial phase of re-accumulation. According to this expert, in 2016, BTC demonstrated a long red candle after the halving, falling by 17%. This time, the pattern repeated, with the difference between the post-halving maximum and minimum being 16%. The price reached a local bottom at around $56,566 but then rose to $65,508, on which Rekt Capital concluded that it re-entered the "re-accumulation range." However, there is one "but" - after this, we again observed a drop to $60,175. Overall, it seems that BTC/USD is in a descending channel, which increases investor concern.   In general, the forecasts are quite diverse. Information on the activity of various categories of traders and investors also varies. Analyst and CMCC Crest co-founder Willy Woo noted the activity of so-called crypto dolphins and sharks. "There has never been such a rapid purchase of coins by wealthy holders as in the last two months when the price fluctuated between $60,000-70,000. We are talking about those who hold from 100 BTC to 1000 BTC or approximately $6.5-65 million," he explained. On the other hand, according to CryptoQuant analysts, whales holding from 1000 to 10000 BTC, unlike dolphins and sharks, have behaved quite passively. Michael Van De Poppe, for his part, notes the absence of retail investors.   All this suggests that we may not see new all-time highs for BTC in the coming months. We wrote about this in the previous review, citing, among other things, the opinion of such a Wall Street legend as Factor LLC head Peter Brandt. With a 25% probability, he assumed that bitcoin had already formed another ATH within the current cycle. As for long-term forecasts, nothing has changed here - most of them predict a powerful bull rally for bitcoin. Anthony Pompliano writes about this. Willy Woo expects bitcoin to continue increasing its penetration into various spheres of everyday life, meaning the number of users will grow. "By 2035, we expect bitcoin's fair value to reach $1 million. This forecast is based on the user growth curve. And I'm talking about fair value, not a peak during a bull market frenzy," the analyst notes.   The author of the bestseller "Rich Dad Poor Dad," entrepreneur Robert Kiyosaki, once again included bitcoin in the TOP-3 ways to save and increase capital. "Bad news: the [currency market] crash has already begun. It will be severe. Good news: a crash is the best time to get rich," he wrote, offering several recommendations on how to act in a crisis. Let's note two of them. The first reads: "Find an additional source of income. Artificial Intelligence will destroy millions of jobs. Start a small business and become an entrepreneur, not an employee afraid of losing a job." "Don't hoard fake money (US dollar, euro, yen, peso) that is losing value. Hoard gold, silver, and bitcoin - real money whose value increases, especially in a market crash," is Kiyosaki's second recommendation.   Regarding bitcoin's growth, Kiyosaki is absolutely right; it's even pointless to argue. According to a study by Colin Wu, better known as WuBlockchain, over the past decade, the price of the leading cryptocurrency has grown by an astonishing 12,464%, outpacing giants like Amazon, Apple, Google, Meta, Tesla, and Netflix. BTC was second only to Nvidia (+17,797%). But the fact that bitcoin took second place, being a representative of a relatively new and volatile market, is a real achievement. BTC's impressive growth trajectory over the past decade demonstrates its resilience and potential as an essential component in investors' portfolios.   At the time of writing this review, on the evening of Friday, 10 May, the BTC/USD pair is trading at $60,470. The total market capitalization of the crypto market is $2.24 trillion ($2.33 trillion a week ago). The Crypto Fear & Greed Index has risen from the Neutral zone (48 points a week ago) to the Greed zone, now standing at 66 points. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
×
×
  • Create New...