If you have ever traded cryptocurrencies and surprised how the exchange rate keeps fluctuating, you may have realized that it goes up and falls down dramatically. A lot of this fluctuation depends on the demand and supply but at the same time Bitcoin news. If the news is good for the cryptocurrency, its value goes up significantly.
Needless to say if you have been trading Bitcoin for a while, you will know that there is money to be made trading Bitcoin news. Thus, it appears from traders’ experience that Bitcoin news plays vital role in their decision making process. However, trading the news involves some risks and there are several major traps you must avoid before you do it.
For instance, Bitcoin news releases and reports are indicators for future long-term movements for its exchange rate against other currencies. However, for short-term trading, the actual results and the forecasted expectations may create big move opportunities. Thus, you should always be prepared to book profit and not delay it for long to reduce all gains.
If you have been trading based on Bitcoin news, you should keep in mind some factors that help you in the process. For instance, when actual results of major economic events come up you should keep updating yourself reading the latest and updated Bitcoin news. Global presence of Bitcoin makes it vulnerable to movements in the exchange rate.
Therefore, you should always be prepared to sell or buy Bitcoin depending upon the state of the market. Most of the time, breakout opportunities from the news release are not a long term trend as the movement may only last for few minutes to few hours. This may be a reason that a lot of traders book profit or buy when the market falls significantly.
There are portals like NewsBTC that bring along a range of trading services for traders that also includes regular Bitcoin news. Most traders are either using scalping or day trading when they trade on news releases; however, you should come along with long term trading goals. One of the tips is to try not to trade during the release as the trade can turn against you.
Additionally, you should make it easy for traders that the exchange rate can be spiked. Any artificial demand cannot be ruled out from the market and for that reason you should trust your own analysis.
Related posts:
The Exciting World of Digital Currency
Benefits of Subscribing to Bitcoin Newsletter
Bitcoin Price Charts to Track Movement in the Exchange Rate
Understanding Bitcoin Technical Analysis
Needless to say if you have been trading Bitcoin for a while, you will know that there is money to be made trading Bitcoin news. Thus, it appears from traders’ experience that Bitcoin news plays vital role in their decision making process. However, trading the news involves some risks and there are several major traps you must avoid before you do it.
For instance, Bitcoin news releases and reports are indicators for future long-term movements for its exchange rate against other currencies. However, for short-term trading, the actual results and the forecasted expectations may create big move opportunities. Thus, you should always be prepared to book profit and not delay it for long to reduce all gains.
Professional Bitcoin News Providers
If you have been trading based on Bitcoin news, you should keep in mind some factors that help you in the process. For instance, when actual results of major economic events come up you should keep updating yourself reading the latest and updated Bitcoin news. Global presence of Bitcoin makes it vulnerable to movements in the exchange rate.
Therefore, you should always be prepared to sell or buy Bitcoin depending upon the state of the market. Most of the time, breakout opportunities from the news release are not a long term trend as the movement may only last for few minutes to few hours. This may be a reason that a lot of traders book profit or buy when the market falls significantly.
Bitcoin News Providers
There are portals like NewsBTC that bring along a range of trading services for traders that also includes regular Bitcoin news. Most traders are either using scalping or day trading when they trade on news releases; however, you should come along with long term trading goals. One of the tips is to try not to trade during the release as the trade can turn against you.
Additionally, you should make it easy for traders that the exchange rate can be spiked. Any artificial demand cannot be ruled out from the market and for that reason you should trust your own analysis.
Related posts:
The Exciting World of Digital Currency
Benefits of Subscribing to Bitcoin Newsletter
Bitcoin Price Charts to Track Movement in the Exchange Rate
Understanding Bitcoin Technical Analysis
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