I don’t understand the cryptos. But they’re easy to trade, because their followers are so rabidly supportive of prices. BitCoin got trashed last week on the SVB debacle. So buying the dip was an obvious play.
Didn’t catch the low and didn’t get out on the high. But an 18.4% profit for a 2-day holding period is good enough for the girls I go dancing with.
What do you think about the miners? I have followed RIOT and MARA for quite a while now and they seem to track better than the coins…doc
I’ll occasionally trade BTC, but I don’t follow the cryptos, especially not the crypto miners (whom I truly don’t understand). That said, if you think you see an opportunity to get in and get out with a profit, then go for it.
I would say this though. The issuers/backers of fiat currencies hate the cryptos, and they will continue to try to marginalize them through regulation and taxation. So, do this. Plot the cryptos and their miners against gold/sliver and their miners. Same-same, right? but with better liquidity, plus far easier access to financial statements, hence, the ability to do trades that combine FA with TA.
I only trade $ETHUSD only either daily and or on the 4-hour chart.
When I get to a quota of dollars, I dump it to the piggy bank.