For those of a trading disposition, volatility within any market is usually a good thing. In the case of cryptocurrencies, this might not be so. Considering that the price of Bitcoin is anything but stable making money from a sideways moving market becomes very difficult. It is not possible for any human being to watch the markets 24 hours a day. You will need some form of AI bot to do that for you. Nevertheless, remember that your bot is only as effective as you have programmed it. AI bot or not, losses are still very possible and very real.
So, what’s the real joy you may ask? The joy is in knowing that the market could move up and down on a whim as silly as Charlie Lee (of Litecoin fame) waking up late for a meeting. Nothing of that sort could move the stock market in such a manner. As I look at my charts (I am a fan of the Ichimoku Clouds) on Bitcoin, there may be a price-break through the clouds. If this happens, the price will definitely fall through the US$8000 level. All the signs indicate a sentiment in that direction on the 1-day charts. The 4-hour charts on the other hand show this to be the case. This is the crypto market remember, and anything is possible. And as for where the price may head, your guess is as good as mine.
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