EfficientNinja

I don't think it will. As of now people still prefer other types of payments. Debit and credit cards, PayPal, etc. Bitcoin and other cryptos would be a great payment option but not as a sole method of payment today. Maybe in the future, many have already adapted to crypto.

Robinhood is a popular trading platform for different markets. They offer free trading transactions with stocks. I'm not familiar with other markets though. They are adding new cryptocurrency to trade regularly. Now, Litecoin and Bitcoin Cash are the newly added crypto to trade. What are your opinions on Robinhood?

I see this as a very big inconvenience too. I hope this will change in the future and they'll have some options to convert to traditional currencies. It is a hassle to top up funds when you want to trade cryptocurrency through these sites.

Before I enter a trade I already have a stop loss ready when the market doesn't move in my favor. I would never have a 50% loss in my portfolio. I only risk 1% of my capital on every trade and I have stop losses ranging from 4-10%. I have my stop losses at 3 ATR.

China is restricting trades. I read somewhere about trade wars with the United States. I guess China doesn't want their money going out of their country. I also think the main reason that China is banning crypto is that they are the main areas that it is profitable to mine cryptocurrency.

I also think that the mining industry is really quiet nowadays. I don't see that much news about it. But they will soon get attention once it is more profitable to mine cryptocurrencies. An old relative of mine was planning to make his crypto mining business with his friends. I hope he's still in the business.

I would like to ask the Sling Bank Community which currency or cryptocurrency pairs they like trading the most. ETH/BTC seems to be one of the more popular trading pairs. LTC/BTC, ETH/LTC, etc. are some examples of these trading pairs. Which of these are your favorites to trade?

The right time to go for a long position is when it goes above the 200 MA. You'll need to have your trade setup first and have your stop losses and trailing stops set before you enter a trade though. Right now Bitcoin's price is below 200 MA and I can't see it changing anytime soon. I guess it's a good time to go short? But I haven't tried shorting Bitcoin yet. 😛

I invest 1% of my assets in Bitcoin. I have most of my assets in the Stock market and agriculture land. It's great for diversification and even if I only put a small allotment, the profits make up for it. I also won't feel bad if my crypto trading account gets wiped because I only allocated 1% of my wealth there.

All we can do is wait and wait until Bitcoin's price starts to move in our favor. We can't move the price ourselves and it's up to the whales' actions. I do hope there will be another bull run soon. It may be this year or next year. Nobody knows.

I guess there aren't any ways to recover a lost Bitcoin wallet. The Bitcoins that are lost will never be recovered again because the owner failed to secure them. Maybe we could contact the website or the company of the software or hardware wallet provider.

Good Day, Sling Bank members! I would like to ask the Sling Bank community on which websites they check Bitcoin or other cryptocurrency's current price. Some of us here may be checking a cryptocurrency's current price every day or at various intervals during the day, especially if they are day traders. So what are the best sites to check the current price and maybe also do some technical analysis? Thanks!

It can still go lower. I don't know where the next support area is but it's sure to get broken down again. At this pace, it is sure to go lower.

I found a post somewhere on Reddit that says Bitcoin is under attack constantly but it isn't fazing. It just shows that it's security is powerful enough to keep the attackers at bay. As for the volatility of the price, I think it is the nature of Bitcoin to have wild swings at times.

It really is still in a bear market. I guess nobody really knows. It's price just reflects the market's trades and more are selling instead of buying right now. All we can do is wait if we want to ride another bull run in the future.