INVESTING IN CRYPTOCURRENCY

[skymate]

It so amazing that the world is now in new era of technology , which is called BLOCKCHAIN.

Here ,we are trying to decentralized everything in the world at large and making it easy for people to have control on their income .

Blockchain is a new and better technology that has come to stay without been control by government which gives absolute power to the people ,

But in trading the coins which are Bitcoin and altcoins it involve so much volatility which has made some people think is very unusual and very risky to get into , but it has some basic analysis that need to be followed for better understanding and low risk .

There are three ways to determine what the volatile could be in range of downtrend and uptrend , which are .

1. technical analysis
2. fundamental analysis
3. manipulation

Let talk about the three points stated up there.

1. TECHNICAL ANALYSIS :- this is an area where we look at past to know the future by working majorly on our chart of every minute, hours, days and months to determine what could happen in future of the coin, we use so many tools in this regards to determine the price changing and when it may likely be downtrend or uptrend.
   Some of the tools are
   A) Moving average convergence divergence "macd" which show us the probability of next move with histogram chart and on various time base like 5min, 10min to month chart.
   B) Moving average "MA" which is dividend in to three part such as I) simple moving average ii) weighted moving average ii) exponential moving average
   C)Relative Strength Index - "RSI" is a momentum indicator developed by noted technical analyst Welles Wilder, that compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security.
   D) Fibonacci retracement is a method of technical analysis for determining support and resistance levels. They are named after their use of the Fibonacci sequence.
   E) Bollinger band is plotted two standard deviations away from a simple moving average. Because standard deviation is a measure of volatility, when the markets become more volatile, the bands widen; during less volatile periods, the bands contract

2. Fundamental analysis When conducting fundamental analysis on a coin, you have less metrics to analyze compared to when performing analysis on traditional stocks.

You can get to know the coin through their site and social media , like Reddit , Twitter , discord, telegram, slack etc. And look out for two metric to know if the coin is worth buying or invest in, by seeing the tones in the community , getting to know the people in the group if their comment is negative or positive toward the community , then you know if you are in the right place to invest .

1. Manipulation is kind of activities going on in the market where the price of a coin is been hype by some whale or dump to reduce the value when some are holding and getting in to lost, by the result of the manipulation.

Thank you all for reading and I hope this help .

You can follow me @skymate for more question on how to get started in trading cryptocurrency.

Comments

[steemsociety]

Hello skymate! Welcome to Steemit! Hope you'll like the community here. As a start, here are 5 tips that we believe will be helpful to you:

1. Keep your passwords safe: Unlike conventional sites, Steemit has 4 types of passwords. Each offers varying degrees of access to your account, so know where and when to use each of them. Also, make sure to keep them all safe and secure.
2. Get Steem rewards: When writing a post, you'll have the option to choose how to receive your reward: "Default 50%/50%" or "Power Up 100%". As of this moment, choosing Default 50%/50% is the better option. But this can change over time. Check our post to know more.
3. Upvote wisely: When upvoting, wait at least 30 minutes after the post is published to maximize your curation reward. Also, make sure not to upvote too much too fast so as not to drain your voting power.
4. Know your Steem, Steem Dollars and Steem Power: Steem and Steem Dollars are the 2 main currencies here. Convert and power up more Steem into Steem Power so you can have higher values on your upvotes.
5. Have Fun and Enjoy!

For a detailed writeup, check our post Getting Started: 5 Essential Tips for New Users.

Good luck on your Steem journey! Follow us if you like to receive more helpful tips and maximize your Steemit experience.

[cheneats]

Hi, skymate! Wish you the best journey here on this platform :) Best Regards

By the way, there are several groups you as a newcomer can join. They will stay with you for your journey, helping and mentoring along the way.

@greetersguild invite link https://discord.gg/AkzNSKx
@newbieresteemday invite link https://discord.gg/2ZcAxsU

[skymate]

Thank you

[voluntary-io]

Welcome to Steemit @skymate :)

[skymate]

Thank you.

[steemplus-bot]

Welcome to Steem, @skymate!

I am a bot coded by the SteemPlus team to help you make the best of your experience on the Steem Blockchain!
SteemPlus is a Chrome, Opera and Firefox extension that adds tons of features on Steemit.
It helps you see the real value of your account, who mentionned you, the value of the votes received, a filtered and sorted feed and much more! All of this in a fast and secure way.
To see why 2535 Steemians use SteemPlus, install our extension, read the documentation or the latest release : SteemPlus 2.14 : Follower / Witness voter indicator.

[janne]

Welcome to Steemit skymate. Let me know if you got any questions about Steem or anything related to it! The official FAQ can be found here and has A LOT of information https://steemit.com/faq.html - Also remember, Steemit is just ONE of the sites built that uses Steem the blockchain. We also have DTube - our very own Youtube, DSound for Soundcloud and Steepshot if you prefer Instagram like experience. I'd also like to mention ChainBB - forums, Busy - Steemit with more modern look basically, DMania for memes and Dlive for streaming just like in Twitch! You can also earn Steem by gaming now! Search for Steemgar if that's more your thing. Welcome to the blockchain! :)

[mepatriot]

Welcome! It is so nice to have you here with us. Please let me know if you have any questions, and I will be glad to try to help out if I can. Good luck!