Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[AudraMiller]

As we all know, there is a correlation that exists between bitcoin and other alternative cryptocurrency coins, and from what I have seen it seems that that is generally in the sense of a direct proportionality relationship. Therefore, when the price of bitcoin increases, there are also increases in some other cryptocurrency coins as well. Some of the most notable cryptocurrency prices rises due to the bitcoin bull run that we have being seeing recently include, IoTeX which actually saw a three digit percentage rise of over 185 percent. WINk had a lower price increase, however was still classified among the two 7 highest percentages changes over the last 24 hours, coming in at just under 64%. What are your thoughts on the price increases that we are seeing in these altcoins, and are these cryptocurrencies that you have invested in previously?

 

[AudraMiller]

Ethereum is said to be the forerunner of this bull run actually. With the new all-time high it has set, forecasts as high as 6k to 10 k are being made, even though I think $10k is too much.

I think that it is a very high prediction but given the fact that they are burning some of this coin as well i think that i could be a possible price for them to reach if they do this again.

 

[Mariappa45]

Most altcoins gaining such highs are the ones around the lower side of the table. Very hard to analyse and get perfect result for profit. When if I make a full day to research on potential altcoins to invest I might not discover the ones with such huge potential for profit because they are very down below the table. I take analysis around the top 50 coins mostly.

 

[AudraMiller]

Most altcoins gaining such highs are the ones around the lower side of the table. Very hard to analyse and get perfect result for profit. When if I make a full day to research on potential altcoins to invest I might not discover the ones with such huge potential for profit because they are very down below the table. I take analysis around the top 50 coins mostly.

The altcoins that i think have a very good future in the cryptocurrency world is the ethereum and litecoin and perhaps even the smaller coins like solana and cardano. If you have to go down very far in the altcoin list then you also are running the risk that you may come across a dead coin and you may be scammed into investing in the coin and that could cause a massive loss in your investment.

 

[Mariappa45]

The altcoins that i think have a very good future in the cryptocurrency world is the ethereum and litecoin and perhaps even the smaller coins like solana and cardano. If you have to go down very far in the altcoin list then you also are running the risk that you may come across a dead coin and you may be scammed into investing in the coin and that could cause a massive loss in your investment.

Yes, for sure, if I invest blindly, I might even be so unlucky to get a dead coin. That's why proper analysis needs to be taking very seriously in order to avoid situation like that. Because crypto is risky, with lots of fake and real coins, no one would know the one that will be dead tomorrow, that's why checking on their use cases is a priority too to consider.

 

[AudraMiller]

Yes, for sure, if I invest blindly, I might even be so unlucky to get a dead coin. That's why proper analysis needs to be taking very seriously in order to avoid situation like that. Because crypto is risky, with lots of fake and real coins, no one would know the one that will be dead tomorrow, that's why checking on their use cases is a priority too to consider.

That is very true, and the one thing that i have noticed as well is that there are many coins that are out there and on the different sites there are different trade volumes and analysis for each coin. So you have to look at multiple sites if you are looking to make a good and informed decision moving forward for your investment.

 

[Mariappa45]

That is very true, and the one thing that i have noticed as well is that there are many coins that are out there and on the different sites there are different trade volumes and analysis for each coin. So you have to look at multiple sites if you are looking to make a good and informed decision moving forward for your investment.

Yes, their are many coins in the market, to make profit, we need to analyse those coins, move from one exchange to another. And not trading blindly, trade and spread out investment to other tokens and in a different exchange site too, to avoid issues that touches the heart in case one experiences free fall others can move in the right direction.

 

[Ononivami1]

It's not a surprise that the price fluctuations of bitcoin affects the prices of the altcoins too. The altcoins follow the price action of bitcoin .it's just a very few coins that are not solely dependent on bitcoin price movement

 

[AudraMiller]

Yes, their are many coins in the market, to make profit, we need to analyse those coins, move from one exchange to another. And not trading blindly, trade and spread out investment to other tokens and in a different exchange site too, to avoid issues that touches the heart in case one experiences free fall others can move in the right direction.

In the fact that you have said to move from one exchange to another that is actually a trading strategy as well. There are times when the same coin may have different prices on the different platforms and therefore what they do is that they buy at one exchange and they sell it in the other in order to try and make a profit.

 

[Mariappa45]

In the fact that you have said to move from one exchange to another that is actually a trading strategy as well. There are times when the same coin may have different prices on the different platforms and therefore what they do is that they buy at one exchange and they sell it in the other in order to try and make a profit.

That's simply arbitrage trading you're talking about. If you have huge capital for that, surely you'll come to benefit from such kind of trade. I've seen users who take advantage of the exchange sites crypto price changes to record massive profit daily which is above $20. But to succeed you need to get verified in plenty of the exchange site, and execute your trades expertly and swift.

 

[AudraMiller]

That's simply arbitrage trading you're talking about. If you have huge capital for that, surely you'll come to benefit from such kind of trade. I've seen users who take advantage of the exchange sites crypto price changes to record massive profit daily which is above $20. But to succeed you need to get verified in plenty of the exchange site, and execute your trades expertly and swift.

The verification process is very important if you are looking to utilise this strategy because you will be making large purchases and sales and therefore they have to know the identity of the person doing it. Personally however I have tried it with a few coins and find that the transaction fees are actually eating into your profits as well.

 

[Mariappa45]

The verification process is very important if you are looking to utilise this strategy because you will be making large purchases and sales and therefore they have to know the identity of the person doing it. Personally however I have tried it with a few coins and find that the transaction fees are actually eating into your profits as well.

You're right, I've tried so much to get registered at least in 20-25 exchange sites and wallets. But some crypto sites are simply too strict via their verification policy that's why I fell prey from continuing. They need a document which I don't have, but I'll try my best to get intl passport to validate all the requests to pass verification process. Such will give me the edge to make use of the price changes of any coin in between different exchange sites/wallets to make reasonable profit for my time monitoring their progress consistently.

 

[AudraMiller]

You're right, I've tried so much to get registered at least in 20-25 exchange sites and wallets. But some crypto sites are simply too strict via their verification policy that's why I fell prey from continuing. They need a document which I don't have, but I'll try my best to get intl passport to validate all the requests to pass verification process. Such will give me the edge to make use of the price changes of any coin in between different exchange sites/wallets to make reasonable profit for my time monitoring their progress consistently.

Yes there is a lot of them that require you to have documentation in order to prove your identity and to be honest i tend to stay away from those websites as well because i find that they are the ones that can be risky. also it makes no sense to reveal your identity when you are trying to use crypto.

 

[Mariappa45]

Yes there is a lot of them that require you to have documentation in order to prove your identity and to be honest i tend to stay away from those websites as well because i find that they are the ones that can be risky. also it makes no sense to reveal your identity when you are trying to use crypto.

It's annoying though, to send in my documents to those exchanges to get approval to use their services. But since I'm in dire need of their services what they have to offer, I simply get along and provide my essential documents to bypass their KYC verification process to use their exchange for trading. I did it with Binance, blockchain.com and CEX.IO.

 

[btaliat]

Altcoin may not be using the same blockchain with bitcoin but they are greatly affected with whatever that happens to bitcoin. Shiba Inu tried to break the jinx in the month of October by refusing to come down even when bitcoin price was fluctuating but it didn't keep the pace as it dropped drastically in the month of December following the drop in the price of bitcoin.

 

[AudraMiller]

It's annoying though, to send in my documents to those exchanges to get approval to use their services. But since I'm in dire need of their services what they have to offer, I simply get along and provide my essential documents to bypass their KYC verification process to use their exchange for trading. I did it with Binance, blockchain.com and CEX.IO.

I am in complete agreement when it comes to sending in your private documentation in order to try and obtain verification to utilise these cryptocurrency exchange sites especially considering the fact that cryptocurrency was developed in order to maintain the anonymity of the user and as a result if you are providing this person information you are going against the very nature of cryptocurrency.

 

[Mariappa45]

I am in complete agreement when it comes to sending in your private documentation in order to try and obtain verification to utilise these cryptocurrency exchange sites especially considering the fact that cryptocurrency was developed in order to maintain the anonymity of the user and as a result if you are providing this person information you are going against the very nature of cryptocurrency.

I know cryptocurrency is made to remain anonymous, but due to the scams roaring around those exchanges, they'll really lost huge amount of money on the past. Which me and you know, you can see that with Binance exchange, the whopping amount they lost during those previous attacks. That's why they took the KYC increasingly serious to combat all manner of scams around their exchange. That's the essence of the KYC verification, and I have no other choice but to submit my essential documents for verification in order to get in line with crypto trading.

 

[microunit]

Majority of the time altcoins move with the momentum of the top coins, kinda rarely that altcoins doesn't move with the same momentum with the top coins, they have their own momentum usually when they are still new and a certain whale invest largely in them and they will gain a significant pump and others will se that pump and will jump in it after

 

[AudraMiller]

I know cryptocurrency is made to remain anonymous, but due to the scams roaring around those exchanges, they'll really lost huge amount of money on the past. Which me and you know, you can see that with Binance exchange, the whopping amount they lost during those previous attacks. That's why they took the KYC increasingly serious to combat all manner of scams around their exchange. That's the essence of the KYC verification, and I have no other choice but to submit my essential documents for verification in order to get in line with crypto trading.

I do understand why cryptocurrency verification processes are necessary however if you are looking at the utilisation of cryptocurrency in a country that does not fully accept cryptocurrency coins as the financial infrastructure you are taking a huge risk because it becomes a legal issue if they do not recognise cryptocurrency.

 

[Mariappa45]

I do understand why cryptocurrency verification processes are necessary however if you are looking at the utilisation of cryptocurrency in a country that does not fully accept cryptocurrency coins as the financial infrastructure you are taking a huge risk because it becomes a legal issue if they do not recognise cryptocurrency.

My own country still recognizes the coin so well, and their are still high profile names who has been working tremendously to keep the crypto ambition going higher here. And I'm very much hopeful that crypto have settled in here, with time our politicians wouldn't have option but to utilize the best possible means to develop it here further.

 

[Promise1]

Normally this how currency be like, sometimes bitcoin it rises into a higher point and it can also go down as best matter on food.