Cryptocurrencies are exploding these days
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I know that this is Forex-related forum, but just take a look at the cryptocurrencies these days - they are exploding and I think this is very interesting.
In the Forex world we have regular government currencies - USD, EUR and so on. All of them are controlled by some shadow entities (for example FED for US Dollars) and the value of these currencies goes up (not really) or down depending on the mood of these shadow entities. Even the prices of gold and silver are artificially suppressed. So, in Forex we may think that we are trading, but we are in fact betting in this huge virtual casino.
Cryptocurrencies - take a look at their performance - https://coinmarketcap.com/ (those small charts). Bitcoin doubled in value in few months, Ethereum doubled in a week, ZCash doubled in few hours. And I think that this is only the beginning, because most of the people in the world still don't understand cryptocurrencies, but one by one they will, and the value can only go up and up.
So, I can suggest to anyone to take a look at the cryptocurrencies. If you still don't understand them, take some time to learn them. And get some, just in case.
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I think the risk stays the same, forex or crypto...
With leverage you can double your account in x time, but in the same time your account blows up.And I think forex is better for more frequent day trading since it (propably) has lower trading costs..
Do you know of any metatrader brokers offering crypto products, so we could backtest them using fxdreema eas? Just curious...
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Well, I'm not talking about trading, I'm talking about just having some cryptos. And by the way, after I wrote this Bitcoin and company gained even more value. I think that even if Bitcoin (and others) go down let's say 50%, they will eventually return back and make another records one day. This is new technology in general, but in the same time Bitcoin is (relatively) old and tested, so I see a good potential now. More than that, many people are predicting collapse of the US dollar very soon, which is much more possible.
I am personally ready to work with some kind of decentralized currency. I mean, if I can use Bitcoin (or something similar) everywhere, I'm ok with that. Unfortunately there are still some issues with Bitcoin now, but I hope they will be fixed eventually. And when some cryptocurrency becomes easy enough to be used from regular people, I think that its value would first grow and grow until most people put their hands on it.
For me cryptocurrencies are similar to Tesla. Tesla is also new technology, there are also some problems and the adoption of these new cars is still a little bit slow, but this is the future without any doubt. I'm basically sitting and waiting for all the cars to become electric and I'm 100% that this will happen in few years (but at least 10 years in my small slow country)
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Personally I think the Bitcoin is one of the greatest human creation ever made after the internet.. it skip any bank, skip any government and skip any rule.. its only be killed by killing the internet..
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Great to see! I'm studyng about it too, felling ashamed to have seen all this happen under my eyes and I haven't done nothing about it yet.
It's time for a change
maybe there is a space to make a profit on it.Here im Brazil The hype is high too.
Even in the news, I saw this week the police is taking down several"multi market companies"(scam) who tries to convince you to "give" ours precious bitcoin to they "wallet" to invest and stole your money! LOL
Soon I'm planing to start trading it.
Take care, trade safe guys.
And please Radoslav make more updates and share your thoughts with us. I really appreciate it. -
@Vinicius-Pereira be careful with scammer. there are lot of websites disguise as mining company such as microhash, nanohash, ect... never trust company like that.. they only stole people's btc..
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When I wrote this topic I think the Bitcoin price was somewhere between 2000 and 3000 dollars. Over 15000 now and I still believe that cryptocurrencies will grow. Guys, forget about this Forex stuff and buy and hold some cryptos, I think you will be much better in the future
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@fxdreema said in Cryptocurrencies are exploding these days:
When I wrote this topic I think the Bitcoin price was somewhere between 2000 and 3000 dollars. Over 15000 now and I still believe that cryptocurrencies will grow. Guys, forget about this Forex stuff and buy and hold some cryptos, I think you will be much better in the future
Haha, you made a pretty good call
Personally I am quite sceptic on the bitcoin trend - how can you determine the correct price, how long can it really keep rising, it must be a bubble, IT MUST BE.... aaaand I am probably wrong. -
@fxdreema Amen to that lol
Simplefx is a brokerage that offers btc ltc and eth trading pairs with the mt4 platform.. pretty neat
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u r right admin,
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Some interesting things in the recent AU federal budget.
My govt. is making cash transactions >AUD$10k illegal after 1st July 2019.
In the same budget they have allocated AUD$700k for blockchain research.I won't be at all surprised if in the next few years there's an official government blockchain version of the AUD...
Once that happens it's only a matter of time before the other Five Eyes members will also have their own.That's why I'm mining Monero. Once all the governments have their own cryptocurrency it will only be the truly anonymous ones that will retain their value and continue to grow...
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I am currently here to build EAs specifically for crypto on the mt5 platform. I created a binance account and there is a Binance api provider on mt5 that allows you to use mt5 to trade. Just gotta figure out a good EA for crypto now
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@digitalb23 I like that a lot. Thanks for the info.
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@digitalb23 Hi, have you succeeded in building an EA for the crypto space. If yes, I would like to see the main concepts basically (how to connect to let's say Binance and how to trigger an order). Thanks for your answer.
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Now we are at 47k for Bitcoin after its ATH at 69k, but my feelings about the crypto are darker than ever before. I'm tired of all these too steep ups and downs and too many strange coins entering the scene, only to be pumped and then dumped. The top coins are useless because of their huge fees. Old coins that otherwise perform well are sinking. 13 years since it all started, feels old now. There was so much enthusiasm before, but now I feel only speculation and manipulation. It doesn't look good to me.
I hope that I'm wrong as much as my last post in this topic from 23 Dec 2017, we will see.
