Is it even possible to predict what is happening in this crypto market? I honestly thought it would stall at $2000 and then pull back to $1200 were it last spent some time (4days LOL) perhaps enough to make a new floor. Now when I think about how much money was spent buying up to $2100, I have no idea where the 'new floor' is, nor whether there will be a pull back.
Every bone in my body says I should sell some and take the profits, wait for the next dip and buy back in... but I can't pull the trigger. Every time I check, Bitcoin is higher.
I think you have to ride the wave. Can you set a traditional stop loss in bitcoin? I haven't a clue.
Yes you could use GDAX.com same login details as Coinbase. Just remember though when you BTC is on an exchange and not in your own wallet with a private key it is at risk.
Several exchanges allow for that type of setting, but a stop loss has also proven to be dangerous, unless you are able to monitor your position full time. I basically gave up using them, because the price would dip while I was at work, I'd get home, log on only to find my trigger was met and I am back in cash. The market however recovered, and the BTC was listed $10 more than when I went to work in the morning. Admittedly, the market is more stable now, than in 2013, but I still don't use auto trades anymore. A 24hr market is tough as well, since when the USA trading tapers, the China/Japan trading kicks in... when the hell can a guy get some rest.
I Normally use a TD Ameritrade Rule set that sets a buy condition if a Trade is Executed , plus i tend to use a Stop Limit Rather than just a stop for my AG trades its normally a 0.25/0.02 , but once executed i set a buy of 50% 20 cents and again at 40 cents . as long as im in the green , and you put in a weekly trade in the buy , yo tend to rarely go into the red
regular market thinking about chart investing decisions does not apply. This is a truly international market. Japan made btc legal tender, and Mrs Watanabe has been buying! Japan accounts for 40% of the current demand. Here is an article about ether, I took some profits (drat, too soon) on btc and bought ether. Ether is not really a currency, and is going to be used for business, lots and lots of big businesses:
http://www.coindesk.com/enterprise-ethereum-alliance-new-members-blockchain/
I am going to go back and buy a few more btc, and lots more ether. Now I have to check out the rest of the cryptos. Not saying it won't pull back, but i don't expect it to be deep or long lasting.
Yeah, impossible to predict. Looking at the charts a pullback to1700 or 1500 USD would look correct. Brand new market really in the grand scheme of things and a lot of new money flowing in. Maybe we will look back in 10 years and what looks like a steep upward trend is nothing but a blip. Anybody's guess really...