Crypto Market Is Still Very Small Relative To Everything Else
Crypto Market is still very small relative to everything else.
2017 bubble was due to capital inflow plus some whales trying to make a lot of money by pumping the whole market.
Despite the crash, crypto is still there. People around the world still buy and trade shitcoins. Crypto is not going anywhere.
Streamr Data Coin currently has a market cap of around 20 Million USD, yet, the action of very few people or whales can cause this massive spike to 1700 sat.
In just few days, the coin manage to up as much as 10x from its prior price.
There is no liquidity and therefore the orderbook is very thin, even considering that Binance is the largest crypto exchange with the most liquidity.
This is just like penny stocks and OTC market, unfortunately most wall street people don't even understand how penny stocks/OTC market works, and they bring whatever things they learn from trading commodity or futures.
Crypto is more akin to penny stocks than anything else. And penny stocks is famous for its pump and dump scheme.
If you want to play this market, you need to understand how humans psychology is being manipulated and how whales manipulate the whole market.
In this case, the only way for someone to make money if they buy at low price and then put some sell order at much higher prices or have bots/api doing this for them.
That's the only way to make money at the moment, before another influx of capital into this market.
This market will remain small and fringe until it reaches trillion dollar in valuations.
That's why my approach has always been this is just like penny stocks. I don't HODL penny stocks. I only trade them, buy small amount at low price and sell when there are massive spikes.
Regards.
2017 bubble was due to capital inflow plus some whales trying to make a lot of money by pumping the whole market.
Despite the crash, crypto is still there. People around the world still buy and trade shitcoins. Crypto is not going anywhere.
Streamr Data Coin currently has a market cap of around 20 Million USD, yet, the action of very few people or whales can cause this massive spike to 1700 sat.
In just few days, the coin manage to up as much as 10x from its prior price.
There is no liquidity and therefore the orderbook is very thin, even considering that Binance is the largest crypto exchange with the most liquidity.
This is just like penny stocks and OTC market, unfortunately most wall street people don't even understand how penny stocks/OTC market works, and they bring whatever things they learn from trading commodity or futures.
Crypto is more akin to penny stocks than anything else. And penny stocks is famous for its pump and dump scheme.
If you want to play this market, you need to understand how humans psychology is being manipulated and how whales manipulate the whole market.
In this case, the only way for someone to make money if they buy at low price and then put some sell order at much higher prices or have bots/api doing this for them.
That's the only way to make money at the moment, before another influx of capital into this market.
This market will remain small and fringe until it reaches trillion dollar in valuations.
That's why my approach has always been this is just like penny stocks. I don't HODL penny stocks. I only trade them, buy small amount at low price and sell when there are massive spikes.
Regards.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.