I've been a crypto investor for several years now, and one thing that has remained a constant in my portfolio is Bitcoin. It's hard to believe how far we've come since I first dipped my toes into the world of cryptocurrency. In this review, I want to share my personal experiences and insights as an individual investor in Bitcoin. When I first heard about Bitcoin, it was around 2013, and I was intrigued by the idea of a decentralized digital currency. I decided to invest a small amount, mainly out of curiosity. Little did I know that this would be the start of a thrilling journey. Back then, Bitcoin was relatively obscure, and it felt like a wild west of finance. The price was highly volatile, and I watched it go through several boom and bust cycles. At times, I questioned my decision to invest in such a speculative asset. However, I also saw the potential for blockchain technology to disrupt traditional finance, and that kept me holding onto my initial investment. As the years went by, Bitcoin began to gain more mainstream attention. Institutional investors started showing interest, and the price surged to new all-time highs. It was both exhilarating and nerve-wracking to watch my investment grow exponentially. I made some profits along the way, but I also experienced moments of anxiety as the market could change direction in the blink of an eye. I'll admit it; I've been a hodler. Despite the FUD (Fear, Uncertainty, Doubt) and market crashes, I held onto my Bitcoin because I believed in its long-term potential. The volatility of the cryptocurrency market has tested my patience and conviction, but I've learned to weather the storms and keep a long-term perspective. Over the years, I've witnessed the growth of the Bitcoin ecosystem. The development of Lightning Network for faster and cheaper transactions, the integration of Bitcoin in various financial products, and the increasing acceptance of Bitcoin as a legitimate asset by governments and institutions have all been promising signs. However, with the increasing mainstream adoption of Bitcoin, regulatory challenges have emerged. Governments worldwide are grappling with how to regulate this new asset class, which has led to uncertainty in the market. As an investor, I'm closely monitoring the regulatory landscape and its potential impact on Bitcoin's future. My journey as an individual crypto investor with Bitcoin has been filled with ups and downs, but it has been a rewarding experience overall. Bitcoin has not only provided financial gains but has also taught me valuable lessons about patience, risk management, and the ever-evolving nature of the cryptocurrency space. As I continue to hold onto my Bitcoin investments, I am excited about the potential for the future. Whether Bitcoin becomes a global digital reserve currency or continues to coexist with traditional financial systems, one thing is certain: it has already left an indelible mark on the world of finance, and I'm grateful to have been part of this transformative journey.
January 4, 2024
My journey as a crypto trader has been a thrilling adventure, and at the heart of my trading strategy lies Ethereum. In this review, I want to share my personal experiences and insights as an individual trader in the Ethereum ecosystem. I first encountered Ethereum in 2017, drawn by its potential to bring smart contracts and decentralized applications (DApps) to life. Back then, it was still relatively new, and I was captivated by the idea of a blockchain platform that could revolutionize industries beyond just digital currencies. I started trading Ethereum, initially with a cautious approach. The year 2017 was a remarkable one for Ethereum. Its price surged, and the market hype around Initial Coin Offerings (ICOs) fueled the demand for Ether (ETH). As a trader, I found opportunities for both short-term and long-term gains. It was exhilarating to ride the wave of enthusiasm and witness the price of Ethereum reach new all-time highs. Of course, with the highs came the lows. Ethereum's price was susceptible to market sentiment and news, leading to significant volatility. This rollercoaster ride tested my nerves and trading skills. I learned to adapt to changing market conditions, employ risk management strategies, and diversify my portfolio. What fascinated me most about Ethereum was its vibrant and ever-expanding ecosystem. I followed the development of DeFi (Decentralized Finance) projects, NFTs (Non-Fungible Tokens), and innovative DApps that leveraged the Ethereum blockchain. It felt like a glimpse into the future of finance and technology. One of the most significant developments during my journey with Ethereum has been the transition to Ethereum 2.0. The shift from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism promises scalability, energy efficiency, and reduced environmental impact. As a trader, I've been monitoring this transition closely, as it could have profound implications for Ethereum's value and utility. While Ethereum has achieved remarkable milestones, it's not without its challenges. Gas fees during periods of high demand can be a barrier for small-scale traders like me, and scalability solutions like Layer 2 networks are still a work in progress. Additionally, regulatory scrutiny and competition from other blockchain platforms pose uncertainties for the future. My journey as a crypto trader with Ethereum has been an exciting and educational experience. It's been about more than just profits; it's been about embracing innovation and being part of a transformative movement in the world of technology and finance. I've learned to adapt, stay informed, and navigate the ever-changing crypto seas with Ethereum as my compass. As I continue to trade Ethereum, I remain excited about its potential to reshape industries and empower individuals worldwide. Ethereum has come a long way, and I'm eager to see where this journey will lead us next.
November 10, 2023
Bitcoin has proven to be the cornerstone of the cryptocurrency market, standing as a resilient and transformative asset in the financial landscape. As a professional forex cryptocurrency trader, I view Bitcoin not just as a digital currency but as a paradigm shift in the way we perceive and interact with money. One of Bitcoin's fundamental strengths lies in its decentralized nature, free from the control of any central authority. This characteristic not only aligns with the ethos of decentralization but also positions Bitcoin as a hedge against traditional financial vulnerabilities. Bitcoin's finite supply, capped at 21 million, establishes it as a deflationary asset - a quality that contrasts with the inflationary nature of fiat currencies. This scarcity factor, akin to precious metals, contributes to Bitcoin's appeal as "digital gold" and bolsters its store of value proposition. Price volatility is inherent in the cryptocurrency market, and Bitcoin is no exception. However, this volatility presents opportunities for astute traders to capitalize on market fluctuations. Analyzing Bitcoin's historical price patterns, understanding macroeconomic factors, and staying abreast of market sentiment are crucial aspects of navigating its price movements. As a trader, it's essential to recognize the evolving institutional interest in Bitcoin. Major corporations and institutional investors are increasingly allocating portions of their portfolios to Bitcoin, adding a layer of legitimacy to its status as a financial asset. This institutional adoption brings both liquidity and stability to the market. Bitcoin's role as a digital alternative to traditional currencies is evident, with an increasing number of merchants accepting it as a means of payment. The integration of Bitcoin into mainstream finance, including futures trading on established exchanges, further solidifies its position as a legitimate and tradable asset. In conclusion, approaching Bitcoin as a professional forex cryptocurrency trader involves recognizing its unique characteristics - decentralization, scarcity, and increasing institutional adoption. While acknowledging its volatility, astute traders can harness Bitcoin's market dynamics to their advantage, contributing to the broader narrative of a transformative digital asset in the global financial landscape.
November 7, 2023
Ethereum, in the realm of cryptocurrency trading, is not just a digital asset; it represents a revolutionary smart contract platform that has significantly shaped the decentralized finance (DeFi) landscape. As a professional forex cryptocurrency trader, Ethereum holds a distinct position in my portfolio, driven by its unique features and its role as the backbone of decentralized applications (DApps). One of Ethereum's key attributes is its versatility. While Bitcoin primarily serves as a store of value, Ethereum extends its functionality by enabling the creation of decentralized applications and smart contracts. This programmability opens a vast array of opportunities, from decentralized finance platforms to non-fungible tokens (NFTs), contributing to Ethereum's appeal beyond simple transactional use. Ethereum's commitment to a decentralized and open-source ethos aligns with the broader principles of the cryptocurrency space. As a trader, understanding Ethereum's ecosystem involves keeping tabs on developments within the decentralized finance sector, as changes or innovations in this space often have a direct impact on Ethereum's price dynamics. Smart contract functionality on the Ethereum blockchain introduces an additional layer of complexity to its market behavior. The success and adoption of various decentralized applications can influence Ethereum's demand and, consequently, its market value. Monitoring the activity of decentralized finance projects, token launches, and upgrades to the Ethereum network becomes crucial in making informed trading decisions. Ethereum's transition to a proof-of-stake consensus mechanism with Ethereum 2.0 is a significant development that traders need to follow closely. This shift not only addresses scalability concerns but also affects the overall supply dynamics of Ethereum. The move to a more energy-efficient model is part of Ethereum's ongoing evolution, impacting its narrative and potential market positioning. Similar to Bitcoin, Ethereum experiences volatility, offering trading opportunities for those who can navigate market fluctuations effectively. Recognizing Ethereum's role in facilitating decentralized applications and smart contracts, I approach it as more than just a speculative asset, acknowledging its utility within the broader blockchain ecosystem. In conclusion, Ethereum stands as a dynamic and multifaceted asset for professional forex cryptocurrency traders. Its programmability, commitment to decentralization, and ongoing network developments make it a compelling and ever-evolving component of the cryptocurrency market, requiring traders to stay informed and adaptive to its evolving narrative.
July 13, 2023
Bitcoin bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing inflation. Economists were expecting the year-on-year Consumer Price Index to rise 3.1%, but the June print came in at 3%. The month-on-month increase of 0.2% was also less than forecast. This suggests that the Federal Reserve’s rate hikes are having the desired effect. That may limit future rate hikes by the Fed. Supported by macroeconomic conditions, institutional investors seem to be turning positive on cryptocurrencies, especially Bitcoin. A CoinShares report published on July 10 showed inflows of $136 million into digital investment products in the past week. That brings the total inflows of three consecutive weeks to $470 million, indicating a positive outlook.
July 12, 2023
Bitcoin turned down from the overhead resistance at $31,000 on July 10, but a positive sign is that the bulls did not allow the price to dip below the 20-day exponential moving average (EMA) of $30,012. The upsloping 20-day EMA and the relative strength index (RSI) in the positive territory indicate that the path of least resistance is to the upside. If buyers drive and sustain the price above $31,000, the BTC/USDT pair is likely to start the next leg of the uptrend. The pair could ascend to $32,400, where the bears are expected to again mount a strong defense. If bulls do not allow the price to fall below the 20-day EMA, the pair is likely to soar toward $40,000. Time is running out for the bears. If they want to make a comeback, they will have to quickly pull the price below $29,500. That could start a decline to the 50-day simple moving average (SMA) of $28,312.
July 11, 2023
Ether once again bounced off the 50-day SMA ($1,843) on July 10, indicating that the bulls are fiercely guarding this level. The price turned up and closed above the 20-day EMA ($1,874), indicating that the bulls are trying to make a comeback. If buyers drive the price above $1,906, the ETH/USDT pair could attempt a rally to the overhead resistance at $2,000. This level is likely to witness strong selling by the bears. The crucial support to watch on the downside is the 50-day SMA. If this level gives way, it could pave the way for a deeper correction to $1,700.
July 10, 2023
The bulls tried to thrust XRP above the 20-day EMA ($0.48) on July 10, but the bears held their ground. The bulls will have to cross the roadblock at the 20-day EMA and then at the 50-day SMA ($0.49) to gain the upper hand. If they do that, the XRP/USDT pair could pick up momentum and surge to $0.53 and eventually to $0.56. On the contrary, if the price turns down sharply from the current level, it could retest the strong support at $0.45. This level has held on two previous occasions; hence, the bulls are expected to defend it aggressively. If the buyers fail in their endeavor, the pair may collapse to $0.41.
July 9, 2023
The price action of the past few days has formed a symmetrical triangle in BNB. This suggests indecision between the bulls and the bears. The symmetrical triangle usually behaves as a continuation pattern, but in some cases, it turns into a reversal setup. If buyers kick and maintain the price above the triangle, it will suggest a possible trend reversal. The BNB/USDT pair could rise to $265 and thereafter sprint to the pattern target of $293. Contrarily, if the price turns down and slips below the 20-day EMA ($242), it will suggest that the pair may spend some more time inside the triangle. The bears will have to yank the price below the support line to seize control.
July 8, 2023
Cardano rose above the 20-day EMA ($0.29) on July 11, indicating that the bulls are buying at lower levels. The flat 20-day EMA and the RSI near the midpoint indicate a balance between supply and demand. This advantage will tilt in favor of the buyers if they shove the price above the 50-day SMA ($0.31). The ADA/USDT pair could then start a rally to $0.38. Alternatively, if the price turns down from the overhead resistance, it will suggest that the bears have not given up yet. The pair could then oscillate between the 50-day SMA and the uptrend line for some time. A slide below the uptrend line will give the edge to the bears in the near term.
July 7, 2023
Dogecoin is struggling to rise above the 20-day EMA ($0.07), but a positive sign is that the bulls have not ceded ground to the bears. The flattening 20-day EMA and the RSI just below the midpoint suggest range-bound action between $0.06 and $0.07 for some time. If bulls propel the price above the moving averages, the bulls will try to overcome the obstacle at $0.07. If they can pull it off, the DOGE/USDT pair may climb to $0.08. The bears will gain the upper hand if they sink and sustain the price below the crucial support at $0.06. The pair may then tumble to $0.05.
July 6, 2023
Solana is facing resistance at $22.30, but a positive sign is that the bulls have not given up much ground. This suggests that the buyers expect the rally to continue. The upsloping 20-day EMA ($19.73) and the RSI in the overbought territory indicate that the bulls are in command. A break and close above $22.50 could start the next leg of the up move. The SOL/USDT pair could then attempt a rally to $27.12. There is a minor resistance at $24, but it is likely to be crossed. The first support on the downside is at the 20-day EMA and then at the 50-day SMA ($18.55). Buyers are expected to defend this zone with vigor.
June 20, 2023
Bitcoin has been correcting inside the descending channel pattern for the past several weeks. The 20-day EMA ($26,389) is flattening out and the RSI has climbed to the midpoint, indicating that the selling pressure could be reducing. Buyers will try to push the price to the resistance line of the channel. This is an important level for the bears to defend because a break and close above it could start a new up move. Alternatively, if the price turns down sharply from the current level, it will suggest that bears continue to sell on rallies. The BTC/USDT pair could then retest the strong support zone between $25,250 and $24,800.
June 19, 2023
Ether’s attempt to start a recovery is facing selling at the 20-day EMA ($1,766), but a minor positive is that the bulls have not allowed the price to slip back below $1,700. If the price turns up from $1,700, the ETH/USDT pair will again attempt to rally above the 20-day EMA. If that happens, it will suggest that the short-term corrective phase may be over. The pair may first rise to $1,928 and subsequently to $2,000. Contrarily, if the price turns down from the current level and breaks below $1,700, it will indicate that bears remain in command. There is minor support at $1,600, but if this level gets taken out, the pair may plunge to $1,352.
June 18, 2023
BNB’s relief rally is facing selling at the 38.2% Fibonacci retracement level of $252.50, but a positive sign is that the bulls have not given up much ground. The bulls will again try to thrust the price above the overhead resistance zone between $252.50 and the 20-day EMA ($259). If they can pull it off, the BNB/USDT pair may climb to the 61.8% retracement level of $272.50. The bears are expected to fiercely protect this level. Contrary to this assumption, if the price turns down from the current level or the overhead resistance, it will suggest that the bears are not ready to give up their hold. The pair could then once again drop to the critical support at $220.
June 17, 2023
The bears repeatedly pulled XRP below the 50-day SMA ($0.47) between June 14 and 17, but they could not sustain the lower levels. This suggests buying on dips. The bulls are trying to push the price above the 20-day EMA ($0.49). If they achieve that, it will indicate that the XRP/USDT pair may swing between the 50-day SMA and $0.56 for some more time. The flattening 20-day EMA and the RSI near 50 also point to a possible consolidation in the short term. If bears want to remain on top, they will have to quickly tug the price below $0.45. That could accelerate selling and sink the pair to $0.41.
June 16, 2023
The bulls are struggling to start a relief rally in Cardano even though the RSI is at deeply oversold levels. The bears are trying to sink the price to the vital support at $0.24. This is important support to keep an eye on because if it cracks, the ADA/USDT pair may skid to $0.22 and then extend the decline to $0.20. Buyers are likely to have other plans. They will try to guard the zone between $0.24 and $0.22 with vigor. If the price turns up from this zone, it will suggest that the pair may consolidate between $0.24 and $0.30 for a while. The first sign of strength will be a break and close above the 20-day EMA ($0.30).
June 7, 2023
Bitcoin and altcoins witnessed a sharp sell-off on the news that the United States Securities and Exchange Commission (SEC) filed a suit against Binance in U.S. district court for unregistered securities operations. BTC and most major altcoins, as traders could prefer to remain on the sidelines for a few days until some clarity emerges. Another upcoming event that could keep the investors at bay is the Federal Reserve’s meeting on June 14. Although the short-term picture is uncertain, Glassnode data shows that the largest cohort of Bitcoin whales, owning at least 10,000 Bitcoin, has been on an accumulation spree for the past few days. On the other hand, all the other major cohorts have been in a distribution phase. What are the important support levels that could start a recovery in Bitcoin and the major altcoins? Let’s study the charts to find out.
June 6, 2023
Ether broke above the falling wedge pattern on May 28 and successfully held the retest on June 1, but the bulls failed to start a new up move. This gave an opportunity to the bears to make a comeback. Sellers tugged the price below the moving averages on June 5, which accelerated the selling. The ETH/USDT pair tumbled below the resistance line of the wedge pattern. If this level fails to hold, the next stop could be $1,740 and then the support line. This negative view will invalidate in the near term if the price turns up and breaks above $1,928. The pair could then surge to $2,000 and eventually to $2,200, where the bears may again mount a strong defense.
June 5, 2023
BNB’s narrow range trading resolved to the downside on June 5. The sharp selling pulled the price below $300 and the next support at $280. The BNB/USDT pair could drop to $265, which is an important level to keep an eye on. If the price turns up from $265 and rises above $280, it will indicate strong buying at lower levels. The pair may then rise to the 20-day EMA ($306), where the bulls are likely to encounter aggressive selling by the bears. On the downside, a break and close below the $265 support could start a new downtrend. The pair may plunge to $240 and then to $220.
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