updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Ripple’s native cryptocurrency XRP
XRP
$1.76
24h volatility:
5.7%
Market cap:
$107.22 B
Vol. 24h:
$5.02 B
was seen trading at $126 on the CNBC “Crypto World” show. This led many investors to be confused as to what caused this 6,500% upside in XRP price. However, CNBC seems to have confused XRP with Solana
SOL
$116.2
24h volatility:
5.3%
Market cap:
$65.79 B
Vol. 24h:
$8.41 B
, in what seems to be an error with wrong ticker usage.
A brief on-air graphics error on CNBC this week momentarily showed XRP trading at $126.01. This was enough to trigger major discussions within the trader community.
The mistake occurred during a Jan. 28 segment of Crypto World covering the Senate Agriculture Committee hearing on crypto market structure. At the time, the program correctly displayed Bitcoin
BTC
$82 632
24h volatility:
6.0%
Market cap:
$1.65 T
Vol. 24h:
$90.95 B
at $89,532, down 0.39% on the week, and Ethereum
ETH
$2 741
24h volatility:
6.5%
Market cap:
$330.65 B
Vol. 24h:
$45.62 B
at $2,996, off 0.77%.
However, when the broadcast showed XRP, the on-screen ticker listed “$126.01, -3.8% (7D).” This meant that the XRP price was trading 6,500% higher than its actual market price at $1.90 back then.
However, confirming this glitch, CNBC producers noted that the show had mistakenly inserted Solana’s spot price, which was trading at $126 back then. “On Jan. 28, the show mispriced XRP by using Solana’s value in its place,” the report explains.
During the broader crypto market selloff in the last 24-hours, XRP price is down by an additional 7%, falling under the crucial support of $1.80. Technical indicators show that XRP is trading within a descending channel, marked by a series of lower highs and lower lows. It shows that XRP is currently in strong bearish momentum.
XRP Price descending channel | Source: TradingView
For now, $1.70 remains a critical support zone for the XRP price. On the upside, $1.90 remains a significant resistance area, where selling pressure is likely to stop further upside.
Amid the market-wide correction, crypto ETFs saw major outflows on Jan. 29 trading sessions. Outflows from Bitcoin and Ethereum ETFs nearly stood at $1 billion. Similarly, spot XRP ETFs registered $92 million outflows during yesterday’s trading session, as per data from SoSoValue.
Spot XRP ETF outflows | SoSoValue
As per the on-chain data, most of the outflows were led by the Grayscale XRP ETF (GXRP). The total assets across all ETFs currently stand at $1.2 billion.
SUBBD, an AI-based creator platform, is getting major limelight in a major push to decetralized creator economy. The platform aims to reshape creator–fan relationships through a tokenized model powered by its native SUBBD token.
SUBBD targets the $191 billion global content creator market and is marketing itself as a Web2-friendly, on-chain solution for non-crypto users. As a result, this platform is close to reaching the $1.5 million milestone in presale fundraising.
SUBBD offers staking rewards of up to 20% APY. This feature has helped it stand out among current crypto presale projects. The platform focuses on enabling influencers and AI-driven personalities to build and monetize communities using on-chain loyalty and engagement tools. Want to learn more? On Coinspeaker, you can read about how to buy SUBBD.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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Time Stamps
1:47 1) Not Having a Plan
3:25 2) Hate Taking a Loss
5:10 3) Failing to Place Stop Losses
6:48 4) Trading Too Many Markets
9:11 5) Overtrading
10:41 6) Using Too Many Indicators
12:11 7) Bad Money Management
13:17 8) Too Much Leverage
14:27 9) Choosing Bad Exchange / Broker & Advice
17:43 10) Not Taking a Profit & Overconfidence
21:29 Conclusion
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Sources
► Loss Aversion: https://thedecisionlab.com/biases/loss-aversion/
► Stop Loss Definition: https://www.investopedia.com/terms/s/stop-lossorder.asp
► Stop Loss Tips: https://www.tradeciety.com/stop-loss-tips/
► Scalping Stop Loss: https://tradingsim.com/blog/scalp-trading-active-investing-strategy/
► Which Market Should You Trade: https://www.investopedia.com/articles/trading/10/know-your-trading-alternatives.asp
► Importance of Research Trading: https://samuraitradingacademy.com/importance-research-testing-trader-development/
► How Often to Trade: https://www.thebalance.com/how-often-a-day-trader-should-trade-1030876
► Money Management Matters: https://www.investopedia.com/articles/forex/06/fxmoneymgmt.asp
► Importance of Research Trading: https://samuraitradingacademy.com/importance-research-testing-trader-development/
► Momentum Strategies: https://quantpedia.com/strategies/momentum-factor-effect-in-stocks/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
1⃣ No Trading Plan 1⃣
It’s important to have well defined goals around target returns and the timeframe in which you want to achieve them.
Once you have these formalised you need to develop a trading strategy.
2⃣ Not Taking a Loss 2⃣
This is a fool’s errand that often leads to more losses. Momentum is a pretty powerful force in the financial markets and if a trade breaks from your hypothesis – cut it quickly.
3⃣ Failing to Place Stops 3⃣
These are orders that will close a trade without any intervention and can help eliminate the risk of flawed psychological thinking. If a trade goes against you and you don’t adjust your stops, they will be closed and will stop your losses.
4⃣ Trading Too Many Markets 4⃣
A single trader can only pay a certain amount of attention and focus to a market. The moment you start splitting that attention onto other markets you are hampering your performance in both.
5⃣ Over Trading 5⃣
This is a fallacy and more often than not, the opposite is true. You have those trading fees that are charged on every trade that you make. The more trades that you make, the more that these can rack up. Often, the most valuable time spent is when you are doing your research.
6⃣ Too Many Indicators 6⃣
This can cloud your judgement and over complicates your trading. Moreover, many of these indicators could contradict each other. So, try to err on the side of simplicity for your analysis.
7⃣ Only Trade With What You Can Afford 7⃣
You should never trade with more money than you can afford to lose. Its only practical. Apart from being highly irresponsible, its also illogical. When you invest with your free capital, you tend to be emotionally invested.
8⃣ Trading With Too Much Leverage 8⃣
There is no reason whatsoever for you to max out your leverage. Just because you can trade with 100 times your capital does not mean you should. You can be just as successful using leverage of even less than 20 times.
9⃣ Choosing The Wrong Broker 9⃣
It is essential that you do proper research before you start using a particular exchange.
Create a test account. Use demo funds. Work your way up to the first deposit and even then, start small.
Following “Experts” & Overconfidence
Don’t follow this shills and supposed “gurus” that you see online. Most of these are not really good traders and are more marketers.
You should also never be scared to take a profit and avoid the hubris that comes from overconfidence.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
* exclusive additional $100 bonus is on top of Bybit’s regular $90 bonus. It is triggered with a 0.2 BTC deposit and will be credited to your account within 72 hours. Links to Bybit are affiliate links and help support my work.
Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Trading #Bitcoin #Forex #BTC #Crypto #Exchange #Broker
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~~~~~
Essential Videos
How To Find Low Cap Gems https://youtu.be/GIfihSBT6Bc
Altcoin Exit Strategy https://youtu.be/ZGd6O79_MOc
Recent Chainlink Analysis https://youtu.be/oszRMlrmm6o
Kusama Explained https://youtu.be/mNSuvYaJ2Vg
Cryptocurrency Technical Analysis (Part 1) https://youtu.be/lW3eWIj3Q04
~~~~~
– TIMESTAMPS –
0:00 Intro
1:56 Trading Strategy
4:13 Exit Strategy
7:00 Market Depth
9:25 Trading Volume
10:54 Circulating Supply
13:21 Market Cap
15:43 Fundamentals
19:18 Final Thoughts
~~~~~
Useful Links
► Binance Review & Guide: https://www.youtube.com/watch?v=YzJ6xkJpeUk
► Uniswap DEX Analytics: https://info.uniswap.org/home
► ICODrops To Check Allocation & Vesting: https://icodrops.com/
► Messari To Check Allocation & Vesting: https://messari.io/
► Trustnodes Report About LINK Selling: https://www.trustnodes.com/2020/08/14/chainlink-devs-dump
~~~~~
Trading Strategy
The number one mistake cryptocurrency traders make is going in without a well-defined plan, and most of this involves deciding on a timeline
If you are in it for the long haul, you are better off holding and dollar cost averaging. If crypto is a short term affair, you will have to do your research to find promising altcoins that could 10x or more.
Exit Strategy
“Exit strategy” has a different meaning depending on who you ask. While fiat is nice to have, it is losing value by the day. Bitcoin may be a better “cash out” option, even compared to other assets
Profits can be taken in two ways: all at once or gradually over time. Like dollar cost averaging, it is safer to take some profits every time a certain dollar or percentage gain has been made
Market Depth
Market depth can be measured using the depth chart on cryptocurrency exchanges and on some coin tracking sites like Coingecko
If you see a depth chart where the buy wave is larger than the sell wave, this suggests that there is not much demand for the cryptocurrency being traded
The “steps” you often see in the sell wave are called sell walls. Sell walls mark a price where a lot of traders will be selling. The larger the sell wall, the harder it will be to push past that
Sell walls normally develop around psychologically comfortable prices which may not always match up to what’s seen in the price chart. The reverse is true for sell waves and sell walls in market depth
Trading Volume
The trading volume you see on sites like Coinmarketcap and Coingecko give you a bird’s eye view of the trading volume for that cryptocurrency across exchanges
This makes it possible to easily spot any volume abnormalities which could suggest price manipulation. A cryptocurrency should have lots of trading volume spread across multiple exchanges
If you see a cryptocurrency that is trading primarily on a DEX, be sure to give it some extra due diligence during your research
Circulating Supply
Circulating supply is important because a low circulating supply relative to the total or maximum supply means that there could be a risk that you’ll get dumped on by early investors or the team behind the project. This can be easily checked using the grey bars on CMC
Market Cap
The larger the market cap of a cryptocurrency, the more money it will take to push its price up. This is why you have to go looking for lesser-known altcoins will small market caps if you want to pull a quick 10x
Fundamentals
Investing in a cryptocurrency project just because you expect the price to go up for whatever reason is the number one trading mistake. Having expectations is the number one killer of crypto gains
More often that not, people will FOMO in in the first few minutes expecting a price pump, and maybe it does pump by a few percentage points. It feeds on itself as those who see the pump try to catch it
Then a whale comes by and dumps on those new investors, leaving them wondering why they bought that cryptocurrency.
Instead of banking on a boost from some bullish news, take a moment to ask yourself if the cryptocurrency you’re investing in has *some fundamental* value that makes it worth trading or holding.
~~~~~
Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #Bitcoin #trading #mistakes #tips #guide
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Insider Info in my Socials https://guy.coinbureau.com/socials/ 20% Binance Discount https://guy.coinbureau.com/binance/ “ETH Evolution” Shirt https://store.coinbureau.com TOP Crypto TIPS In My Newsletter https://guy.coinbureau.com/signup/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Useful Vids
Aave Video https://www.youtube.com/watch?v=NOk6OTFTsvw
Crypto Exchanges https://www.youtube.com/watch?v=Kbt0P-nJV7o
How to DYOR https://www.youtube.com/watch?v=HCLWDGYnAzk
Safest Hardware Wallets https://www.youtube.com/watch?v=_t3Brlb0qzQ
Crypto Tax Tips https://www.youtube.com/watch?v=EMNSwa_PkkA
Top Scams https://www.youtube.com/watch?v=AFhSf0l_aQQ
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
– TIMESTAMPS –
0:00 Intro
1:50 Mistake 1
5:00 Mistake 2
7:40 Mistake 3
9:28 Mistake 4
11:24 Mistake 5
13:08 Mistake 6
15:43 Mistake 7
17:23 Mistake 8
19:23 Mistake 9
21:08 Mistake 10
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Sources
► $5 Wrench Attack: https://bitcoinmagazine.com/culture/the-5-wrench-attack-and-your-bitcoin-stack
► Lost Bitcoin Passwords: https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html
► IRS Tracks Bitcoin: https://fortune.com/2017/08/22/irs-tax-cheats-bitcoin-chainalysis/
► Robbers Stealing Bitcoin: https://www.scmp.com/news/hong-kong/law-and-crime/article/3116489/robbers-steal-over-hk3-million-worth-bitcoins-trader
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
1⃣ Not Having a Plan 1⃣
A strategy is important because it will help to inform your investing decisions in a relatively consistent and pre-programmed way.
It limits you from making quick and sometimes emotional decisions when trading particular coins. Most often, it is deviations from well thought out strategies that see newbies get rekt.
2⃣ Using the Wrong Exchange 2⃣
You need to make sure that the exchange that you are using works for your trading preferences. It needs to be safe and has to have the coins that you want to trade on it.
You have to DYOR to make sure that the exchange does not have restrictive policies when it comes to withdrawals.
You also have to make sure that the fees are not too high. Trading fees can build up over time and considerably limit your upside potential.
3⃣ Not DYOR 3⃣
The smart act of DYOR is the most underrated investment edge that you can get over all the other people who are jumping in the markets.
Not only does it allow you to take full ownership over your investment decisions but it also means that you can research some of those hidden gems that other investors have not even heard of.
4⃣ Taking Too Much Risk 4⃣
This leads you to make decisions which are suboptimal and go against the strategy that you defined initially.
When you are taking too much risk in the crypto markets, you tend to make emotional decisions because of the high stakes that are involved.
Try to avoid high leverage if you are newbie.
5⃣ Not Securely Storing 5⃣
If you are holding crypto for the long term then you need to store it off exchanges. You will probably want to invest in a hardware wallet. It’s a small insurance policy.
6⃣ Not Keeping Backups 6⃣
Be sure to make regular backups of not only all your seed words. You will also want to make sure that you have backups of exchange passwords and two factor authentication seeds.
You should consider keeping these in a safe location like a safe deposit box.
7⃣ Sending Funds to wrong Address 7⃣
Too many newbies send funds to the wrong address. You always need to make sure that you are sending that crypto to the correctly supported chain.
You will want to make a test transaction with a smaller amount to make sure that it is being picked up on the other end.
8⃣ Not Considering Tax 8⃣
You should always invest with consideration to the tax implications. The taxman has become quite efficient when it comes to tracking those transactions.
You may also want to consider when you are taking your profit as this will impact on your profit in the various tax years.
9⃣ Telling People 9⃣
Don’t tell people how much crypto you hold and that you are invested in crypto. They don’t need to know how much you have and when you do this you open yourself up to a robbery or worse.
Falling For a Scam
There are a lot of scams out there in crypto. These range from ponzi schemes to giveaways and phishing attacks. You will always need to ask yourself whether the offer in question is too good to be true.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Crypto #Mistakes #Bitcoin #scams #tax #hacks #safe
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