If you are new to cryptocurrency and just recently came to the forum here, for example, and read what people write, then pay attention to the fact that without any experience it is better not to engage in trading, it is better to buy me you and just hold them for a specific time until a certain price that you immediately You’ll put it up, perhaps even for sale, or you’ll just keep it in your wallet and wait for that price. But in any case, you’ll wait and make money; you’ll most likely lose everything.

Quote from: Wiseman on May 12, 2024, 08:25:28 AM

Quote from: dekafee79 on May 11, 2024, 12:23:30 PM

Quote from: Wiseman on May 11, 2024, 07:56:47 AM

If anyone didn’t know, in the last month all over the world, all the largest investment funds and banks have planned to buy Bitcoin for different amounts; some of them are already starting to buy, well, in the future. More precisely, this year, banks and funds are planning to buy Bitcoin for unrealistically huge amounts of money.

It's very good if big banks buy bitcoin because this will have a good impact on the price of bitcoin. As long as after buying, you don't take any action that dumps the bitcoin price, for example by selling the bitcoin price.

Of course, this is very good news, because if large banks buy cryptocurrency, including Bitcoin, then all cryptocurrency will rise in price, plus there was recently a Bitcoin halving and miners who are engaged in large-scale mining of Bitcoin will buy it in order to raise the price in order for them it was profitable to mine it.

Currently, without us realizing it, the number of wallets that store bitcoin continues to increase quite rapidly. And indeed many institutions are getting into bitcoin. Especially after the Bitcoin ETF was approved. Without us realizing it, the world's big companies also continue to accumulate more than we thought. And this is indeed good news in the growth of bitcoin adoption. And with this perhaps the price of bitcoin will not fall further except in the bear market that will come after the bullrun.

Yes, you are right. This can be seen even just by the growth of new wallets; they are increasing every day by a huge number. If compared with the number that was 3-4 years ago, now they have doubled or tripled, which means that Bitcoin is now held by a lot more people the sooner and this only leads to higher prices.

There was a news on social media platforms last week that Nigeria and India have joined BRICS to use their National Currencies to make and international transactions among themselves and  this morning again I saw that EFCC Bans US Dollar Transactions In Nigeria, Orders Embassies To Transact In Naira. This approach might really bring back the Naira back to track but I don't know if really these News are legit. The government instructed all the foreign embassies to use naira and not dollar any and if this is true then this is what they have done from the beginning instead of attacking cryptocurrency exchange platforms. Personally I like this policy if it is true.
https://www.naijanews.com/2024/05/11/efcc-bans-us-dollar-transactions-in-nigeria-orders-embassies-to-transact-in-naira/

What do you say about this?

After holding for a long time gold price increase but that is not enough. It cannot even protect against inflation. Considering these factors, Bitcoin is the only best choice.

So many people in the USA disagreeing with you...

Hey there, fellow traders! Have you noticed how crypto exchanges are always trying to outdo each other in attracting new users and boosting trading activity?  Well, one of their favorite tactics is these crypto trading competitions. It's a win-win really. They get more people trading, which means more fees for them, and we get a shot at some sweet prizes. I've been in a few myself, and it's a fun way to test the waters and maybe even snag some extra crypto.

So, anyone here ever thrown down in a trading competition? What was your experience like? Any wild wins or epic fails to share?

My experience has been bittersweet, to be honest. I think last year I got into KCGI(,hosted on Bitget), but my technical analysis wasn't the best. However, I loved the experience - trading under pressure, networking with traders, etc. I've been in other tournaments since then and made some decent gains too. I'll be looking to get into more this year and improve my performance.