Bash4j
Active member
I guess the lack of knowledge, experience, or understanding of the market dynamics effectively can also contribute to the fear of making mistakes but the majority of cryptocurrencies are also trading in losses with some losing up to 7%. According to Coinglass data, the total value of crypto liquidations in the last 24 hours is $129 million. According to Bitcoin's monthly returns chart, BTC has had six "negative Septembers" in a row since 2016. Within these six years, 2019 witnessed the greatest loss of 13.47%, while 2022 losses were relatively lower at 3.12%. However, historical precedent may not predict current outcomes because the crypto market never fails to surprise. In my opinion, Diversifying your trading plans via the adoption of strategies like Copy trading or crypto Bot trading might be worth considering as we await the BTC next leg up.
TRomanoS
New member
Here are some common factors that can influence Bitcoin's price:
- Market Sentiment: Investor sentiment plays a significant role in cryptocurrency markets. Positive news or sentiment can drive prices up, while negative sentiment or news can lead to declines.
- Regulatory Changes: Government regulations and policy changes related to cryptocurrencies can have a significant impact on their prices. Announcements of new regulations or crackdowns on crypto-related activities can lead to price declines.
- Market Volatility: Cryptocurrencies are known for their price volatility. Sharp price fluctuations can occur due to trading activity, including large buy or sell orders.
- Macro-Economic Factors: Economic events and trends, such as inflation, interest rates, and global economic conditions, can influence investor decisions to buy or sell cryptocurrencies.
- News Events: Major news events, both positive and negative, can affect Bitcoin's price. These events can include security breaches, technological advancements, adoption by major companies, or negative publicity.
- Technical Factors: Technical factors, such as changes in network hash rate, trading volumes, or the introduction of software upgrades or forks, can influence the price of Bitcoin.
- Market Speculation: Speculation about future price movements can drive short-term price fluctuations. Traders and investors may buy or sell based on speculative expectations.
- Liquidity and Trading Volume: Lower liquidity or trading volumes in the cryptocurrency market can lead to more significant price swings.
- Whale Activity: Large cryptocurrency holders, known as "whales," can influence the market by making substantial trades.
- Global Events: Geopolitical events, such as economic sanctions or political instability in certain regions, can indirectly impact the cryptocurrency market.
BashirJasper
Active member
Actually, in the midst of all these falling price, there's an opportunity to stack up because we may never get another bottom. I have been stacking for months now though even when I dabble in to leverage trading sometimes. But I'm certain liquidity ain't gonna dry up on exchanges against some weird expectations
GeneralEth
New member
there is really a chance to stock up in the middle of all these plunging prices. Even though I occasionally participate in leverage trading and have been stacking for months, investor emotion may have a big impact on cryptocurrency markets. Price increases can result from positive news or mood, while price drops might result from bad news or sentiment. Right now in my opinion is just to continue buying the dip and awaits the bull run. in the meantime when am busy with work i'm exploring the copy trading service on bitget exchange to make some income for myself passively
Sophiemoon
New member
How does this copy trading works I've been hearing about it...can you tell me more about it air ?
GeneralEth
New member
First you have to register with the exchange, any user may select a seasoned trader to follow, so turning into a Follower, and will then automatically duplicate all of that trader's orders. That's how it works.
BashirJasper
Active member
It seems we might see another bottom at between $20k and $21k with the news of a further liquidation of the remaining FTX assets covering FTT, BTC, ETH and SOL.
I'm gonna wait and see what the bottom will be by the end of September before I continue with my DCA on my favourite exchanges Binances, Okx and bitget
I'm gonna wait and see what the bottom will be by the end of September before I continue with my DCA on my favourite exchanges Binances, Okx and bitget
ImamShaheb
Valued Contributor
But be aware,if you're choosing the wrong elit trader ,then you're done for 😅. If seen a lot of them at Bitget who just take an L at Bitget by copy trading then blindly blame the exchange!
ImamShaheb
Valued Contributor
Also consider CEX's BTC ETF approval! If that happens soon then the possibility of market crash will be disappeared!
Sept is one of the best time for those who wanna accumulate. Btw in my opinion Bitget is better than OKX because, I've never used OKX because of their restrictions 😅.
forumspeaker
New member
Usual thing before new halving
Maxicreed
Active member
Copy trading is a viable option if you don't have adequate trading skills and you wanna trade. I will suggest you do your dd to chose the best and the biggest copy trading exchange to use. Also consider the following factors when copying any elite trader:
1. AUM (Assets under management)
2. ROI. (Return of investment)
3. Winning rates
4. Numbers of followers and few more you may discover yourself.
ImamShaheb
Valued Contributor
There are several reasons behind that, only halving cannot be an explanation bro! Just look at LTC, I hope it'll justify~
Frank Dumont
New member
it's worthy but not that much. In addition some of percentage of your profit goes to the trader and remaining will be your net profit.
ImamShaheb
Valued Contributor
Also if you select a noob trader to follow, you're doomed😅.But I have to admit that, the feature is cool ,user just have to be cautious while selecting the elit trader!
eliasisaac5
New member
The latest news is that Congress is forcing SEC to approve ETF applications so there are chances that ETF's will approve soon.
This will definitely pump bitcoin so maybe we will see its bullish phase.
eliasisaac5
New member
Why you have to follow orders just learn trading yourself and do paper trading in the beginning and start trading yourself.
Don't depend on others, try try again until you succeed, follow this mantra....
BashirJasper
Active member
Yeah, I watched that live and I think at this moment, Gary Gensler may have to throw in the towel and approve the ETFs and also drop his witch-hunting of crypto. It's written all over that congress session today haha!!
Zeddicus
Member
Haha! It sounds funny but it's the gospel truth. It has made a good trader bruh but in the midst of these, I tried my best to use trusted platforms with top-notch security like Bitget, okx, among others which have zero incidence of theft. I'd hope of others should tighten their security to curb the rising scams in the Crypto industry.
Sophiemoon
New member
Thank you, i was caught up with work for days, so I'm gonna check out the copy trade. Can i get back to you if i encounter any problem?
