13-09-2017 05:38 PM
Hi - You may find the following thread interesting as there are a number of FAQ's answer RE: trading crypto with IG.
The short answer is as follows: "[With IG] ...you don’t need a wallet or additional offline storage device, and account verification and KYC checks are automatic. You are not buying or selling the underlying Cryptocurrency, but instead speculating on the price movement."
12-10-2017 07:03 PM
The trend is extremely bullish on Bitcoin and Cryptocurrencies in general. At the moment, Blockchain - Distributed Ledger Technology, has the potential to be a game changer in several industries. Digital Currencies may be announced by Central Banks but Bitcoin in my opinion is something totally different.
It is a digital asset that is limited in supply like a limited edition sports car, limited edition fine 1st grade Bordeaux red wine, limited edition of stamps, limited edition of a Patek Phillippe or Rolex, etc. This is why I can see speculators, Hedge Funds, investors, traders, lots of people basically jumping into to buy Bitcoin which will keep on going higher and higher until the very last Bitcoin has been released. At this point if there is no value to Bitcoin by then, it will come crumbling / crashing down. However if by then it has more importance and value then it could be something like a rare diamond!
There will be plenty of trading opportunities, volatility, crashes and spikes, along the way. Each to their own in terms of how to make money from it. Just be ready to short it as well and make money from it whether it is going up or down.
12-10-2017 11:36 PM
Bitcoin is a bubble and rightly so, everyone is interested and so they should be. Gold, tally sticks, cash, crypto.
Bubbles are great fun, they fly about all over the place price-wise but that has nothing to do with the underlying value. Just like the 'dot com' bubble and burst, some blockchain affiliates (Bitcoin, Duck-Duck coin or what-ever that latest ICO is) will survive as did the big dot com companies (but not all).
The underlying asset is real (blockchain that is, not those celeb retard promoted ICO offerings), it's just the price you can't rely on, peeps are already printing 'Bitcoin 10,000' hats, yah. And it may well be so.
Buy a few to keep in your e-wallet, but otherwise just trade the ups and downs but expect a bumpy ride.
PS, @JamesIG can you put this thread in with 'FX and Crypto' ,
07-11-2017 11:06 AM
Yes but surely you can only say 'way too far' once you have the benefit of hind sight @H_hi, like all good bubbles and Ponzi schemes there is a profit unless you are too late to the party. Yes it will put in a major correction at some point but right now it's the liveliest chart in town.
I see it caught another bid in the Asian session having dropped below 7000. Now sitting mid way trying to decide which level to retest.
7580 or 6920.
4 hour chart.
08-11-2017 07:38 AM
There seems to be a pattern of buying up in the Asian session then selling off in the Euro and American sessions since start of Nov in what appears to be a period of consolidation.
30 min chart.
09-11-2017 05:44 AM
From a trend following perspective, Bitcoin (bubble or no bubble) is the best, strongest and most clear bullish trend around. I challenge anyone to show me another asset in the whole of 2017 which has produced the same amount of returns as Bitcoin?
What makes me laugh is that yes Bitcoin has returned 800% or whatever it is this year which is without the likes of the leverage available on IG for spread betting which would give some far more stellar returns. However, there have been many companies such as nano caps and micro caps around the world which have produced similar if not more returns per year but because the mainstream was not reporting it or not many knew about them they were no comparisons with tulip bulbs or suggestions such as those made with Bitcoin.
I personally think that it is Blockchain (DLT) which is worth looking at from an investment perspective. There is more 'fundamental substance' with Blockchain, the technology unpinning Bitcoin and Cryptocurrencies in general. Just enjoy the ride and trend with Bitcoin but do not be surprised it if carries on increasing against all odds as the speculators, hedge funds, greed, etc. will all take Bitcoin to a ridiculous level and then it will come crashing down. Bitcoin will hit $10,000.00.
09-11-2017 01:33 PM
Finds more buyers at last nights low 7050 (support after Bitcoin fork failure). Would expect it now to take another look at 7460 (most recent resistance).
10-11-2017 12:24 PM
Interesting article on recent bitcoin price moves.
30-11-2017 06:47 PM
I fully expect there to be a massive correction. $7,500 - $8,000 would not be unexpected. The mainstream media will make it into a big story of how Bitcoin's bubble is finally bursting and it is now crashing, etc. I think a breach of below $5,000 would be where this could be possible but who knows.
At present I expect the next leg up to only start once this which I think will be the biggest correction to date is out of the way.
Blockchain companies are behaving like 'gold mining' companies in a strong gold bull run. The similarities are scary. The new generation, the youth, the tech generation are all investing their capital in this arena ahead of the traditional gold bullion. The evidence is there for all to see. Even the hedge funds, speculators, etc. are all mixing in this party which is sure to be one hell of a cocktail.
30-11-2017 11:23 PM - edited 30-11-2017 11:27 PM
There are 758 cryptocurrencies with average daily transaction volumes under $10,000. Only 88 of them have an average volume above $1 million. Bitcoin leads the way with about $2 billion in daily transaction volume. 472 of the 1,213 cryptocurrencies just started trading this year but only 20 of the currencies are actually being used for something other than trading. The rest are purely speculative trading instruments. Some of these cryptocurrencies may fall out of fashion and turn to junk maybe therein lies the current risk? Then again Big boys are only just moving in and a positive factor for the price, or maybe just moving in ahead of an expected crash and planning to use it to build a new world order!!! Enjoy !!!
01-12-2017 01:46 PM
Bitcoin gains on release of confirmation and details of new bitcoin futures market.
01-12-2017 06:58 PM
It seems there could be the next leg up commencing rather than a large correction. This is where setting stop losses is tricky.
I have opted to invest in XBT Tracker One Bitcoin SEK and XBT Tracker One Bitcoin EUR. The returns will closely track the price of Bitcoin but I will not have any leverage so the returns will be less than say spread betting on IG. A lot less!
I think the price action is extremely interesting for Bitcoin. CEO's of large investment banks are coming out and suggesting Bitcoin is a fraud, bubble, etc. They must be scared! Imagine what unregulated digital currencies could do for these fat, greedy, selfish and ruthless banks?
I mean cash is king when it comes to money laundering. Bitcoin may well be used for money laundering but so is cash. Money laundering can have facets of cheques, electronic payments, hawala banking, etc.
There have been many bubbles but when one does not understand what Bitcoin could represent or what changes it could help push then the value cannot be appreciated by most. You cannot simply call something a bubble because you do not understand it. Bitcoin has written itself in the history books. It is the origin of Cryptocurrencies. It helped push Blockchain into the market quicker than what would have been possible.
Interesting but unpredictable times ahead.
02-12-2017 12:39 AM - edited 02-12-2017 12:40 AM
I have been dealing with bitcoin and cryptos in general in traditional markets, have began to explore bitcoins through CFDs in IG. Banks are generally less hostile to traditional investments instruments like IG compared to a real crypto exchange. The question is cryptos run 24 by 7, but when I log in I see market closed. Since I am a newbie, I just want to know when is the operating hours for trading for cryptos, and since the price is pretty much fluid, are the guranteed stops or limits executed when price is hit even IG is off hours? Since btc can pretty much swing 30% in a few hours, and I cannot edit the order anytime. What is the general strategy that you guys do to speculate btc without access to it 24 by 7? Thanks.
02-12-2017 12:42 AM - edited 02-12-2017 01:57 AM
It was under maintenance and I could not change any entries. Now the maintenance is over, it says market closed and the price is at 10872 when other markets is over 11,000. It seems that i can modify the order, not sure if it can be closed or something else. Can anyone confirm the operational hours of the btc platform? Thanks.
02-12-2017 09:05 AM
I agree that Bitcoin is a 24 hour market yet trading it on IG does not reflect this. However, IG have improved in this area but there is still a little bit of work to be done before IG can offer is customers 24 hour access to trading Bitcoin. This simply means that IG traders cannot have a better 'edge' than others trading Bitcoin.
IG closes for Bitcoin on Friday 10:00 pm and re-opens on Saturday at 8:00 am for USD BTC only. Not Bitcoin in GBP or EUR.
IG are slowly improving but I accept that it needs to ultimately offer 24 hour access for Bitcoin trading to satisfy its customers.
04-12-2017 10:54 AM
Bitcoin failed at 11530 with declining volume and now looking for support as momentum is turning.
US factory orders at 3:00pm.
15 min chart.
04-12-2017 11:44 AM
I just thought I'd post Daily FX analyst John Kicklighter thoughts on the week ahead when it comes to bitcoin...
Bitcoin Crosses 10,000 and the Rubicon with Futures – Bitcoin achieved yet another remarkable milestone this past week – it surpassed 10,000. The actual break was one of extreme volatility and reflected distinctly upon the speculative nature of the cryptocurrency market. As with the high profile equity indices of past decades where the big round figure inspired further inflows of capital for sheer fear of missing out (FOMO) purposes, we are witnessing the rise of a new asset and asset class that is being led by its novelty and promise for rapid wealth.
Why wouldn’t traders be drawn to this market’s charge higher? It has already offered massive gains with stories of millionaires being minted in just the past year. It is not fully adopted into the financial system, so there is seemingly a discount in its very nature. And, it is difficult to value which encourages speculators to push ever higher as there is no stodgy fundamental value for them to justify overreaching.
As with any decent market, there is a true underlying value to Bitcoin and its digital peers. Deep security of transactions will be a permanent stay for the financial system. Yet, the collective success of Bitcoin is dependent on its universal adoption. To replace a fiat money, you need a fiat money’s reliability – if not full characteristics. Sure there is unprecedented security behind the ledger, but there are crucial limits from supply to conversion (where and what we can make purchases on).
To commit to the market at these levels, traders are taking a serious risk with the volatility – investors are burning speculative bridges to throw in with the move higher. One more ladder rung to offer confidence is the news that the CFTC has approved futures on Bitcoin at the CBOE and CME. A regulated derivatives market is a serious move towards legitimacy. However, it also brings greater scrutiny from regulators moving forward and will draw a considerable amount of capital from the spot market considering the virtues of the exchange-based market (and yes there are some): segregated accounts, clear tax implications and flexible liquidity.
08-12-2017 09:51 AM
Heading down again, may try to retest 14225. Out of interest how is IG handling shorts on these big plunges? It's one thing not being able to get in on a steep rise but it's much worse not being able to get out when price plummets.
13-12-2017 11:03 AM
13-12-2017 01:44 PM
Hi @Mixer, Depends on how you would want to trade it.
For spread bets yes with a guaranteed stop but problems getting orders accepted but trading on an exchange no, both routes have there problems caused by the very high volatility.
Re; journalist's experience trading on an exchange.
for spread betting
13-12-2017 03:09 PM
What, no pic? Yes they will be as price struggles making higher highs continuing to lose momentum though still above the 20 sma on the 4 hour but only just. Also seen in the continuing RSI divergence.