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Messages - Domithra

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Ethereum Forum / Re: Is the price of ethereum dependent on bitcoin?

« on: May 29, 2019, 05:06:14 AM »

Quote from: imikocha1994 on September 05, 2018, 10:26:41 AM

Most people have the mindset that the price of ethereum rises with bitcoin and vice versa. How true is this?

Ethereum is one of the few coins on the market with real life usage due to its unique smart contract which allows projects to create their own coins on the Ethereum Blockchain. Before the 2018 long bear market, Ethereum appeared quite independent and could make market price surges without waiting for Bitcoin to rise before.
Currently, Ethereum seems to be largely affected by the price movement of Bitcoin without being able to rise independently if Bitcoin stays or decline in price.

Cryptocurrency discussions / Re: Is crypto growing stronger or weaker?

« on: May 28, 2019, 03:43:22 AM »

Apparently, there is no doubt about the tremendous growth seen by crypto each year since the inception of this technology. More countries and companies keep joining crypto gradually. Big companies which joined crypto recently include Samsung which has integrated crypto wallet into its S10 phone and Facebook has also revealed its intention of creating their own cryptocurrency. Cryptocurrency will certainly hit the global adoption but it will take some time.

Cryptocurrency discussions / Re: Can Crypto Trading Be Considered As A Profession?

« on: May 27, 2019, 05:25:55 AM »

To answer a topic like this, we must first know what a profession is and according to the Concise Oxford English Dictionary, a profession is any paid occupation which involves training and a formal qualification. Crypto trading can be considered a profession because it comes with its own rules, skills, and knowledge which must be acquired through training and other forms of lessons before an individual can have a success trading in crypto.

Cryptocurrency discussions / Re: What is your knowledge on cryptocurrency investment?

« on: May 24, 2019, 04:59:12 AM »

Quote from: Cryptoz on May 23, 2019, 11:18:43 PM

I gained knowledge about cryptocurrency starting when I became a bounty hunter. Since then I have learned a lot about the world of crypto, investing, trading, and some tokens or coins that promising. Regarding investment, I learned from experience. There are lots of crypto promising to invest but there are some that are only good for daily trading. Choosing and sorting which crypto promises to invest is indeed not easy. We need to know the crypto's future conditions, the team, the products, and the clear roadmap.

Of course, the most difficult part of all the avenues of making profit in crypto is the part of choosing which project or coin to work with. The research must cut across all dimensions of the project/coin - do not rely on just a single aspect, for example only the expertise of the team or the road map. The reason why it is very necessary to base the decision on the analysis of various dimensions of the project/coin is that most of the projects have good and promising roadmap, idea and product yet fail to sail through successfully at the end of the day.
The analysis must therefore be a combination effect of expertise level of the team, the product and its level of demand on the market, the idea and road map, the strength and support level of the crypto community of the project/coin etc.

Cryptocurrency discussions / What is your knowledge on cryptocurrency investment?

« on: May 23, 2019, 02:54:05 AM »

Cryptocurrency is gradually increasing in adoption as people get to know the significant role it plays in our world of finance. The ways to earn profit from cryptocurrency are numerous and among them include cryptocurrency investment. Just as any other avenue for making profit, cryptocurrency investment has its own principles to follow in order to become a successful cryptocurrency investor. Investor is always required to study the market trend and do personal researches on projects and coins in order to come out with the right coins to invest in at a particular point in time. In addition, the investor must learn to be patient especially when the market goes down in order not to sell off the valuable coins at cheap prices. Further more, the investor must always invest an amount which is affordable to lose, just in case the worse happens.
What is your experience or knowledge in cryptocurrency investment? Any learned lessons from previous mistakes?

Cryptocurrency discussions / Re: how long is it normal to be a holder?

« on: May 22, 2019, 02:49:09 AM »

Quote from: ayatoslaw on January 12, 2019, 04:04:17 AM

I am one of the holders, especially when the market is down,
I prefer to be a holder,
It's just that, I don't know how long it takes to normally hold a coin ,?
I'm sure we might not want to hold a coin for long,
if I assume, maybe at least 3-4 years for new coins, and under 2 years for old coins.
I'm sure it doesn't take more than 5 years for this, because now the development of coins is very fast, different when BTC first appeared.

Well, I wouldn't mention figures because the decision or reason to hold a coin must always be based on facts or analysis of the project of the coin and the market situation. These factors can only be ascertained through the performance of extensive study of the project of the coin in possession. After the study or research, it will be clear how long to hold each coin based on the identified potentials and capabilities of each coin in possession.

Cryptocurrency discussions / Re: Some Altcoins are getting some Boost and others Not!

« on: May 21, 2019, 06:02:41 AM »

This shows the difference in capabilities and potentials of the various coins on the market. Not all the coins on the market can survive. It requires some factors necessary to keep the demand of the coin active. These factors may include a highly demanded product of the coin, high experienced level of the team behind the coin, strong and supportive community for the coin etc.

Cryptocurrency discussions / Re: The Market Needs correction

« on: May 20, 2019, 02:47:49 AM »

Quote from: Tonymillee on May 17, 2019, 01:49:50 PM

As we saw yesterday, the market took a deep dive. over 30 billion was withdrawn from the market. bitcoin failed from 8,200k to below 7,300k. it may not look good to new investors or people that bought the market at that particular time. but most times the market needs to correction movement. it is not always up and up.

Market correction normally follow a bull trend when investors begin to sell their coins to make profit. The correction phase continues as long as investors sell at the peak till the market hit the resistance phase when there is an almost equal inflow and out flow of funds on the market.
For the recent dive, it is part of a normal upward movement because there is no straight movement in crypto even during bull market, there are periods of downward trends, however, the market recovers quickly and continues with the upward movement.

Cryptocurrency discussions / Re: Strategy to become HODLER

« on: May 17, 2019, 02:29:33 AM »

There is no strait jacket rule guiding the hodling of cryptocurrency. What keeps hodlers going is the ability of the hodlers to find reasons for the hodling. Once the reason to hold a coin is lost, sell offs follow. To attain a reason to hold a particular coin, the investor or hodler must study about the project in order to ascertain its potentials. It is the potentials that will keep an investor holding a coin. Staying focus and being patient are also factors that cannot be undermined when considering to become a good hodler.

Cryptocurrency discussions / Re: People say altcoins won't survive

« on: May 16, 2019, 02:49:44 AM »

The people saying altcoins won't survive must come out with names because we're all aware that not all the numerous altcoins hitting the market each time will survive. To counter the claims, there are also some altcoins like ETH, BNB, Stellar etc which are already surviving and has got all it takes to stay alive on the market.
Looking at the current market state, it is apparent that the rise in prices include altcoins.

Legality & Taxation of Cryptos / Re: Can the government destroy bitcoin?

« on: May 15, 2019, 11:13:06 AM »

Although the governments have influence on the market because the people listen to the government, the governments cannot destroy Bitcoin entirely. Bitcoin is decentralized and this means that no central authoritative body has absolute control over it's transactions and other related activities. Bitcoin can only be destroyed by its users when all users decide to stop using it, which is apparently not going to happen.

Cryptocurrency Price Speculations / Can you sense a bull run? Stop clinging to your fears

« on: May 14, 2019, 02:46:11 AM »

The market is in good shape now, no doubts about it. Bitcoin is spearheading the entire crypto space to another level which will attract a global spectacle. A movement from $3.8K to almost $8K is more than capable of triggering a bull run we all much anticipate. Am I being too optimistic? Am I the only one seeing this?
Since it is not yet confirmed a bull run, there is more time to buy more. Stop clinging to your fears and get some valuable coins for the bull market appears so imminent.

Bitcoin Forum / Re: BITCOIN COME BACK

« on: May 13, 2019, 02:50:05 AM »

Quote from: hope167 on May 11, 2019, 05:12:10 AM

At this moment Bitcoin has reached over 6400$, this is a realize, bitcoin has gone to up trend and came back strongly.
Do you think bitcoin will be reached over 9000$ in this year and go to the moon in near future?

Bitcoin is doing well on the market for the past few weeks in this Q2. If Bitcoin is able to keep this pace of gradual increase in price for the next few months within the Q2, Bitcoin will see an incredible rise in Q3 because it will trigger FOMO which will eventually lead to the bull market which is much anticipated.

Cryptocurrency discussions / Re: The market is bear, it's time for investors to be careful

« on: May 10, 2019, 02:42:03 AM »

Quote from: ayatoslaw on November 11, 2018, 10:35:15 AM

I see, the market still bears because the first is a lot of bounty hunters who are holding on to their assets,
and second because waiting for investors to buy assets again,
but when viewed after the bull market last year, many investors suffered losses, so now it's time to be careful.
What do you think?

It is a good strategy to hold on to assets during bear markets especially after an investor or bounty hunter has ascertained the authenticity and capabilities of the project/coin in question through an extensive research. Here, investors or holders need to be much careful with the type of coins they choose to hold because not all coins are worth holding for long term, hence these coins must be exchanged for coins with more potentials.
Bear market times are also good times to buy more and hold, however, it must be preceded by market analysis.

Bitcoin Forum / Is Bitcoin price still cheap to buy or we might be buying its peak?

« on: May 08, 2019, 02:54:47 AM »

Although Bitcoin has shown some progressive movement in its price for a couple of weeks now, it is not yet confirmed a bull market. One of the secrets to the success stories of good investors in crypto is their ability and readiness to utilize the bear market condition or whenever prices of valuable coins are down. It is during when prices are down that investors buy more at cheap prices and sell when prices rise in order to gain huge profit.
Looking at the previous price marks ($20K) and the capabilities of Bitcoin, it can still be considered now as a low price, hence more chance to buy more and hold. Bitcoin will rise!