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-   -   Have all the FX speculators switched to Bitcoin? (https://www.forexfactory.com/showthread.php?t=708773)

Yorgos Oct 22, 2017 5:30pm | Post# 21

{quote} Yorgos....can you differentiate between altcoins and bitcoins?
It's altcoins and bitcoin.
Altcoins are all other cryptocurrencies like bitcoin, currently there are 1185 out there - the number grow rapidly - with a total capitalization of 170b and with a 3.5b daily vol.
58% of the market is bitcoin, then comes etereum, litecoin, ripple bitcoin cash etc. During 2017 there was a big boom on the prices but also on ICO's - offer of new altcoins - most of them are frauds, also the majority of the cryptos as it is now they will be eliminated, only few will survive.
The think is that there is still a lot to come from that market, currently there are 5909 markets working 24/7 all over the world (except china and usa ofcourse).
I personally since I am a new trader started with the cryptos on June this year, in just over a motth realised how risky it is unless you have a buck with money that you do not really need and you do not care if you loose it, or you have a great experience with trading so you know exactly what to do, when and why.
The volatility is fearless, the prices goes up and down like rolecoster since it's a totally new market were ther is no previous history ... somethink like the tulip you see today we still buy tulips on the shops but they cost a dime, back then you coul'd buy a whole house just with one flower, every time i hear people saying that btc will go to 10, 100, 1000 k's i am thinking of the tulip fever that was kept for almost 10 years ... and then ....
I think that the same circle started this year since althought the bitcoin is here since 2010 (the first coins cost was less then 50 cent !), ethereum since 2015 among with couple of other altcoins, the majority was created in the last 10 months and still do, so the game is on, the buble is getting fullfiled with thin air, when my mother start asking about it and how to invest then we will know that it will be the time ..

TMR Oct 25, 2017 9:54am | Post# 22

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I stopped trading Central Bank IOU's a long time ago. ZWD/BTC
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CapXM Oct 25, 2017 4:46pm | Post# 23

It's interesting to think about how many of the altcoins will survive in the long run. It reminds me of the late 1990s with tech stocks and how everyone with access to a computer and $10,000 started their own tech company. Eventually though, the thousands of startups merged or fell by the way side, leaving the core companies we have left today.

Another similarity is that the first winner is not always the ultimate winner. Great companies of the early internet age like AOL, Yahoo, Myspace, AltaVista, Friendster and Napster all ended up falling by the wayside while companies which hadn't even been founded yet like Google, Facebook, and Amazon ended up dominating the space. We could see a similar thing with cryptocurrencies, with coins like Bitcoin or Ethereum becoming quickly irrelevant but the underlying tech and ideas being picked up by a new company who perfects it. Who that will ultimately be is anyone's guess at this point.

NikosM Nov 8, 2017 10:37am | Post# 24

{quote} It's altcoins and bitcoin. Altcoins are all other cryptocurrencies like bitcoin, currently there are 1185 out there - the number grow rapidly - with a total capitalization of 170b and with a 3.5b daily vol. 58% of the market is bitcoin, then comes etereum, litecoin, ripple bitcoin cash etc. During 2017 there was a big boom on the prices but also on ICO's - offer of new altcoins - most of them are frauds, also the majority of the cryptos as it is now they will be eliminated, only few will survive. The think is that there is still a lot to...
nice job yorgos

forexmaster7 Sep 12, 2018 6:56am | Post# 25

Forex Trading vs Crypto Trading
 
Hello friends,

The crypto currencies have had an important growth in 2017-2018, especially Bitcoin, however there are many different aspects in both markets, one of them is that you can not measure the impact of the news that affect the crypto currency instead in the news for forex are well established in its economic calendar so in my case I prefer to continue with the Forex, since it is regulated by the central banks of each country.
Please reply your views on this topic..

Thanks in advance..

MariaEduard Sep 12, 2018 7:23am | Post# 26

Hello friends, The crypto currencies have had an important growth in 2017-2018, especially Bitcoin, however there are many different aspects in both markets, one of them is that you can not measure the impact of the news that affect the crypto currency instead in the news for forex are well established in its economic calendar so in my case I prefer to continue with the Forex, since it is regulated by the central banks of each country. Please reply your views on this topic.. Thanks in advance..
Crypto looks interesting but I never tried any crypto for trading. I am happy with Forex, maybe in near future Iíll be active on crypto sector.

Shane4 Sep 13, 2018 7:24am | Post# 27

I understand your view but crypto has so much in future because of its technology, don't miss to see the bigger picture. Few companies start adopting bitcoin, It does not hurt to start with small.

voketexpert Sep 14, 2018 3:27am | Post# 28

Crypto is a good currency.
But we don't need that that for the time being. What we need is the implementation of blockchain technology.
that is what makes cryptocurrency prices are falling.

rohitcs Sep 14, 2018 5:33am | Post# 29

I think getting in crypto arbitrage is a good opportunity. Usually, you will find 1% spread across exchanges to take advantage off and make quick bucks.

You can check the arbitrage across all major exchanges on CoinSwitch .
There are the aggregator of exchanges and shows the difference in price of major crypto pairs like BTC/XRP across exchanges which present a good trading opportunity.

forexmaster7 Sep 15, 2018 1:25am | Post# 30

Crypto is a good currency. But we don't need that that for the time being. What we need is the implementation of blockchain technology. that is what makes cryptocurrency prices are falling.
I also believe that crypto is someway different from Forex. On my view Forex is much better then Crypto.
Thanks for your view.

michale343 Sep 15, 2018 2:57am | Post# 31

Crypto market is still very immature and it will take some time before it can attract some big bucks.

bloodpoodle Sep 15, 2018 4:12am | Post# 32

MT. GOX, Cryptsy, Mintpal, Bitstamp, Bter, Bitfinex, Nicehash, Coincheck, Bitgrail, CoinSecure, Coinrail.
All been hacked and lost Coins..
enough said

dispersion Sep 16, 2018 5:44am | Post# 33

Hello friends, The crypto currencies have had an important growth in 2017-2018, especially Bitcoin, however there are many different aspects in both markets, one of them is that you can not measure the impact of the news that affect the crypto currency instead in the news for forex are well established in its economic calendar so in my case I prefer to continue with the Forex, since it is regulated by the central banks of each country. Please reply your views on this topic.. Thanks in advance..
If you made up your mind about trading instruments what is the purpose of creation of this thread? Do you want to see some pros and cons or what? The last thing I would do in choosing trading instruments to trade is relying on forum opinions on that matter...
cheers.

MariaEduard Sep 16, 2018 8:32am | Post# 34

MT. GOX, Cryptsy, Mintpal, Bitstamp, Bter, Bitfinex, Nicehash, Coincheck, Bitgrail, CoinSecure, Coinrail. All been hacked and lost Coins.. enough said
Are you an investor on crypto or a trader? How do you select the coin?

forexmaster7 Sep 17, 2018 6:36am | Post# 35

{quote} If you made up your mind about trading instruments what is the purpose of creation of this thread? Do you want to see some pros and cons or what? The last thing I would do in choosing trading instruments to trade is relying on forum opinions on that matter... cheers.
The post was just to get double sure that I am doing good or not choosing Forex over Crypto. Most of the traders gave me the same opinion.

Oldtraderman Sep 18, 2018 4:19pm | Post# 36

Hello friends, The crypto currencies have had an important growth in 2017-2018, especially Bitcoin, however there are many different aspects in both markets, one of them is that you can not measure the impact of the news that affect the crypto currency instead in the news for forex are well established in its economic calendar so in my case I prefer to continue with the Forex, since it is regulated by the central banks of each country. Please reply your views on this topic.. Thanks in advance..
I'd prefer forex for the reasons you've given plus the small matter of dealing spreads: my dealing platform has a spread on bitcoin equivalent to about 0.8% of the price; for EUR/USD it is about 0.005% of the price. The crypto spread is c.160x greater! That is a very serious practical hurdle to overcome.

Richpack Sep 21, 2018 4:38am | Post# 37

Crypto is riskier than Forex as it has huge volatility. But if you're risk aversion and have a serious management ready for bump, crypto is a fit one. Forex is also good for those who know how to deal with it, risky but less than crypty. Both have a good opportunity if you treat them right.

dianajs Sep 21, 2018 7:35am | Post# 38

Some people do very well when there's big volatility, I think which instrument people trade is largely a matter of personal preference.

dispersion Sep 22, 2018 10:36am | Post# 39

Volatility is like storm in the sea, traders should avoid it and choose appropriate times for trading. Unless you don't have extremely flexible software like high-frequency algorithms, which operate on ultra-short timeframes you are likely to bear losses from trading based on volatility.

pt49 Feb 1, 2019 4:03am | Post# 40

Buy low, then either sell high, or better still, DON'T sell, simply hold.

I first bought Bitcoin when it was 10 cents then forgot I had it, and threw old computer with my bitcoin address into the dumpster... some people bought bitcoin $2 and threw the address in a dumpster with their old computers.

I am now buying at below $4000 and storing it securely.


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