Being an investor in Bitcoin and other coins requires a lot of skill, in order to successfully trade and make gains. During the past 12 months we have seen some of the most volatile market swings in the history of the Crypto Space. This month being November, I have watched in pain as uneducated traders have lost a lot of money, this is mainly due to inexperience, bad advice, poor investments and emotional trading.
The majority of investors have been anticipating a reversal in Bitcoin trends. Therefore they were expecting Bitcoin to grow in trend and were trading as such, some have even been gambling on platforms such as BitMex, a platform which allows you to bet whether or not Bitcoin will increase in price (Long) or go down in price (short).
No trader/investor can ever predict the future of any market, the closest thing we can get to having a successful trade and making profit is to eliminate bad judgement and making poor calls. I urge anyone who trades in crypto-currencies, to take their time.. research the space in which they are entering and consider all contributing aspects which can effect the investment in any way.
For example: if you were considering investing in a trade with an alt coin (any coin other than Bitcoin/BTC) then you should get involved in the community and surf through such space's as Twitter, FaceBook, Steemit, Tradingview, and all other news and update sources which can provide you with the much needed information concerning the coin/token in which you want to attempt trading with. This will greatly improve your chances of success and allow you to understand the product more in depth, this will give you an edge and the confidence to make a professional and factual trade rather than an emotional and high risk trade. Also, being involved in the community allows you to have real-time up to date information on the potential investment, and being a part of the community also allows you to make new friends in which you can share experiences with, and vice versa.
Concerning the recent down trend of Bitcoin and the market as a whole, there are a lot of factors which have effected the price, especially the whole Market capital. The Bitcoin Cash fork was mostly a major contributor to the price dropping, as Craig Wright has made it his legacy to destroy Bitcoin and Bitcoin Cash, it has been speculated that he was even selling large amounts of Bitcoin in order to manipulate the whole market.
Another factor of Bitcoins price fall is based on speculation concerning China, as the miners own over 51% of mining power which is enough to trigger a 51% attack on BTC as a whole. If this was to happen the whole market would suffer. This is a well known fact concerning China and the fake news main stream media whom spread FUD (Fear Uncertainty Doubt) saying such things like "China bans Bitcoin" etc.. This happens to trigger fear in the market so that "unseasoned" and inexperienced traders will panic and sell, this drops the price of Bitcoin and "Whales" (large holders) then buy Bitcoin at a lower price, ultimately manipulating the market. They will "rinse and repeat" this over and over again, constantly selling Bitcoin back to naive buyers at a higher price.
My general intention for this article is to basically attempt to reach out and encourage new traders and investors to always be diligent when investing. The crypto space is like an animal kingdom, if you don't know what you are doing then you become prey by the hunters.
please, always do your own research.
Happy Trading
PS: Feel free to follow me on twitter and tradingview,com - below is a recent Bitcoin chart where I shop the possibility of Bitcoin reaching as low as $3000.
https://www.tradingview.com/chart/BTCUSD/IrBbSCL9-Bitcoin-Line-Of-Death-No-Volume-or-Support-3000-Bitcoin/