My trading operations
General info about trading
Trading cryptocurrencies puts your money in high risk and can be addictive. Take every price prediction with a grain of salt, no matter how reputed is the analyst. Take my predictions with a mountain of salt. Consider it like poker: although you can train and improve your trading performance, there is always a big risk.
Current situation
Probably you already noticed this before but in case you didn't, almost the entire cryptocurrency market is losing value fast in the last days. The cause is China forcing the exchanges in their territory to stop operating. I think it is unlikely that China will ban cryptocurrencies, probably they will only add some regulations to prevent anti-laundering and maybe reduce loss of yuan value too.
Anyway, the Bitcoin price reached a bottom slightly below 3000$ a few hours ago and I don't think it will go below in this "crisis" The total price of altcoins should not drop more either, but some altcoins may fall more.
It is not the first time I underestimate a drop in cryptocurrency prices, but in this case I had some SBD to invest. I decided to buy OBITS shares of OpenLedger exchange and other companies owned by OpenLedger like OCASH, a credit card that converts cryptocurrencies to cash instantly while doing payments.
Another interesting altcoins for buying now are BTS and GRC.
BTS (Bitshares) are shares of a blockchain designed for acting like a decentralized exchange and issuing shares. OpenLedger uses it, but it also adds more coins (those with the name OPEN.X) by using their centralized Bitshares tokens.
GRC (Gridcoin) is a cryptocurrency with an useful Proof of Work mechanism that rewards contributions to scientific research with computing power through the BOINC platform . Most projects available are funded by public universities and their results are open source.
Translation service
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SOURCES
Images from https://coinmarketcap.com
I've really been liking Bitshares and OpenLedger. I have a lot more to learn about trading, but I've had small successes already.
To clarify, GRC uses a hybrid model comprising traditional POS to secure the chain, and Proof of Research (POR) to mint new GRC through BOINC research contributions.
Great article!
Excellent breakdown.
It's getting more and more difficult to say what will affect the BTC market. Mt. Gox -> Segwit -> China Ban. Each one is arguably "more disruptive" than the last, yet Mt. Gox caused the greatest disruption to the market. This is good news for crypto. At the same time, a ban followed quickly by an intent to regulate statement seems like it will be healthy for all markets involved in the long term.
I agree to your last phrase. I read in an economy newspaper that maybe China is trying to discourage people to invest in Bitcoin but they are afraid fo the effect that Bitcoin ban may have in real economy, so they are trying to make the price and confidence in cryptocurrencies to drop but not too abruptly.
Which part of Spain are you from?
I am from Madrid, the region at the center of the Iberian Peninsula.