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Bitcoin - Is it one of the greatest trends ever?

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Bitcoin is a trend followers dream. Trend followers capture the 'middle' of the trend. They never enter at the lowest price and never sell at the highest price. This is because they only enter the trade when a trend is confirmed and only exit once a trend has reversed. This applies to both long and short trades.

 

I think Bitcoin is going to hit $10,000.00 per Bitcoin, especially after CME Group announced that it will be now be offering Bitcoin Futures. This is remarkable and I really now see Bitcoin hitting this milestone soon. I think there will be some profit taking along the way and some big drops and there will be extreme volatility but $10,000.00 is coming soon. This is only my opinion of course! If I am wrong then I am wrong.

 

I am not suggesting that Bitcoin is worth its current valuation or $10,000.00 but from a trend following perspective it is inevitable unless there is some horrific bad news regarding Bitcoin and Cryptocurrencies that is announced. The biggest returns are made from the biggest trends. It is not important to focus on whether it is a bubble, hype, etc. What is important that 'risk management' is applied to the trade and one knows when they will be exiting before they even enter the trade. However as the trend has not reversed then the key is just to ride the trend upwards and enjoy the ride.

 

Is Bitcoin one of the greatest trends ever? This is debatable but for those investors or traders that were too young to participate in previous big and famous trends then this may well be their greatest trend ever in their lifetime to date.

 

I appreciate IG's move to lower the margin requirements but for me it is far too high. If they were to lower their margin requirement for Bitcoin then I think they would see parabolic volume in Bitcoin trading and then become the market leader and go to place for those who want to trade Bitcoin. It is far cheaper to trade Bitcoin and Cryptocurrencies on other 'competitor' platforms than IG. 

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Hi Trend Follower

pretty new to this form of trading and still finding my way.

What other Bitcoin sites are worth looking at or comparing with?

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For information and news on Bitcoin, other Cryptocurrencies and Blockchain I tend to look at three main websites. They are:

 

1) Coindesk

 

2) Cointelegraph

 

3) Cryptocoinnews

 

 

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Hi  and thanks for the initial post and helping  out with his questions. To add to this you may find the following useful (compiled from the Mega Thread here). 

 

In regards to the cost of holding a positions it's really important that you don't just look at the margin required to open or hold a position. This is not a cost, and although it's required to maintain this value to hold your position open, it definitely shouldn't be construed as a charge. 

 

Instead you want to look at the spread, any commissions, and annualized funding costs. When you look at the specific funding costs on an annual basis, as well as the spread you will see that IG is actually very competitive.I'm just going to have a word with the wider business and see if we can bring all of this research together somewhere. 

 

I'll keep the Community posted. 

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Yes, I think Bitcoin will go into the history books and become one of the many greatest trends. You only need to look back over the past 10 years and see that it has smashed pretty much every other asset class in terms of performance and returns. 

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