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Here Is Why Shorting XRP, LTC, TRX, ADA and more in a Bearish Market is Looking Attractive

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A while back, when many of us were noobs in crypto trading, we believed that buying and HODLing was the proverbial greatest invention since sliced bread. But when our XRP, Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC) and the rest started declining in the markets back in January, we started reading up on charts and how to trade during periods of severe volatility. We learned to set up stop losses. We continued trading and made some decent profits due to the fact that there were still periods in the markets where volumes would increase overnight.

But now, the volumes seem to be contracting on a daily basis and we have to come up with a new strategy. 

Yes. We need a new strategy. We can no longer HODL or trade during uptrends. It simply is not going our way and we end up cashing out to Tether (USDT) most of the time and waiting for days before the markets decide to start climbing again. Shorting our favorite digital assets is continually looking attractive. This involves ‘borrowing’ the digital asset at a high price and instantly selling it. Then buy it back at a lower price, returning the borrowed amount and keeping the difference.

How about we start trading with the downtrends? Learn to make lemonade when the handed lemons. 

This approach is risky but our risk tolerance has been growing ever since we learned how to set up stop loss orders when XRP was constantly falling in the markets or when Litecoin (LTC) could not manage the news of Charlie Lee selling all his coins to concentrate on the Litecoin Project. We have had to adapt with the times and shorting our digital assets is another hurdle we must overcome to continue being victorious in these trying times in the crypto markets.

So where can we short our favorite digital assets?

We do not have to go to Wallstreet to short our favorite digital assets. No. All we have to do is check out the one and only crypto exchange that offers these products directly to the public: BitMex. All you have to do is create an account to explore the limitless possibilities of shorting Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH) Litecoin (LTC), EOS and Cardano (ADA).

In conclusion, we have continually continued to evolve as traders in the crypto markets and it might be time to learn how to short our favorite digital assets rather than going long. The latter method of investing is the traditional buying and HODLing till a higher price but this does not seem to be working in the current bearish market.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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Bitcoin

4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

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After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

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Bitcoin

The New Rally Has Arrived: Crypto Market Cap Goes up by $24 Billion Within a Day

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The crypto market’s recovery progresses further, and at a rapid pace, at that. Bitcoin has just surpassed the $8,000 mark, which is the first time its price has been that high since July of last year. In addition, the entire crypto market is making billions within hours.

Bitcoin (BTC) sees another serious surge

In the past 24 hours, the total crypto market cap has gone up by around $24 billion. Meanwhile, BTC price has grown by $1,000 within the same period, as the largest coin traded barely above $7,000 on early Monday. At the time of writing, the coin’s price sits at $8.014.31, with a 14% growth in the last 24 hours. Meanwhile, the BTC market cap has gone up to $141.85 billion, and even the coin’s trading volume surged to over $31 billion.

While many are wondering whether this is a return to the massive heights seen back in 2017 or only a temporary surge which will soon see a correction — no signs of an upcoming decline have been noticed as of yet. In fact, new heights were made and then exceeded multiple times in the past week, with a massive 33% gain during that time. And, with Bitcoin’s dominance at 60%, many are expecting that massive altcoin surges are to be expected as well.

The growth of altcoins can already be seen, as Bitcoin

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