RE: Strategies that should be applied when trading.
Hi @carlir
How have you been lately? Finally I've found some time to catch up with Steemit and read some of my previously bookmarked posts :) It is good to be back
I found your post quite refreshing and definetly worth checking out. I wonder what trading stragies do you prefer the most.
I consider myself a swing trader so this topic is very close to my heart.
Fundamental analysis: this approach is based on the study of the economic and financial fundamentals of a company or a country, in order to predict future price movements. Investors use methods such as financial statement analysis, economic news, and industry perspectives to make investment decisions.
I'm not even sure if there is such a thing as fundamental analysis within crypto world. There is not enough transparency in my opinion to come to any sensible conclusions.
Also what about Bitcoin? We cannot study it's financial fundamentals as it is not a company or a country.
Would that mean that fundamental analysis cannot be used/implemented in case of BTC?
Have a great weekend buddy :)
Cheers, Piotr
Greetings friend @crypto.piotr, firstly the fundamental analysis is based on the analysis of the economic fundamentals that is to study the market, now in the case of BTC its analysis would be different from the economic point of view but still you can analyze its behavior based on news directly related to this cryptocurrency and that allows to project its value in a considerable period of time.