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Bitcoin Trading commentary and review of CryptoNotes Technology including review of the big DUMP on Monero prices during the morning of June 9th.
Bitcoin Prices Today show a number of 1-2-3 bottom formations and this author bought more bitcoin at these low prices. A cautionary comment on how to use Margin Trading for Bitcoin.
Bitcoin is a genius invention, just as the incandescent light bulb - but nowadays, LED lights are replacing all of the inefficient light bulbs of the past... eventually, there will be a second generation altcoin that replaces Bitcoin.
This author is on a search to review all new digital currencies to find those that have the potential to overtake Bitcoin - and to invest in them early... just like it would have been to have bought 1000s of Bitcoin back in 2010. One such coin is NXT, and also MAID - and recently a fellow bitcoin trader recommended researching coins created on the CryptoNote protocol.
We review the price charts for Bytecoin (BCN), Digitalcoin (XDN), Boolberry (BBR) and Monero (XMR)
While making the video and commenting on Monero prices - a LARGE profit taking move occurred and provided the perfect opportunity to highlight the absolute NEED to use Rule #1 in your risk controls when trading Altcoins.
There is considerable risk in bitcoin, altcoin or world market trading, and may not be suitable for all investors. Any trading involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of any financial market. Speculative investments may also be susceptible to sharp rises and falls as the relevant market values fluctuate. Leveraged trading can have a proportional effect on your trading account balance. This may work against you as well as for you. Not only may investors get back less than they invested, but in the case of higher risk strategies, investors may lose the entirety of their investment.
Hypothetical Results Disclaimer
Some trading commentary is based on hypothetical performance results that have certain inherent limitations and may not represent actual trading. Past performance does not predict future results. Predictions do not include the impact of market liquidity and no representation is being made that any account will or is likely to achieve profits or losses similar to those being shown. Forward looking statements include words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and are based on this authors current expectations and assumptions regarding the market in question and actual results may vary significantly from those expressed or implied.
Before deciding to trade in any market you should carefully consider your investment objectives, level of experience, and risk appetite. You should not invest money that you cannot afford to lose. Seek advice from a certified independent financial advisor if you have any doubts.