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After taking a month to review the bitcoin market and the industry news and insider opinion, I have learned nothing about how to practically make money with bitcoin.

The market is irrational and seems unresponsive to news, positive or negative. Some long term considerations still apply, but day to day market fluctuation is difficult to determine. Occasionally, only one trader can have a significant effect on the market value by trading massive volume. Some events, such as the Labor Statistics updates regarding unemployment or Federal Reserve statements regarding policy also can have a dramatic effect on Bitcoin value.

Using E-Toro Virtual investment tool, I was able to identify a market low, purchase some coin and wait for the market to rise. At the end of one month, I earned $2,612 in equity. I sold all the assets, bitcoin and Etherium, when the market was at a high today within recent fluctuation patterns.

The plan now is to wait for the value to drop to the low end of recent fluctuation patterns, or even to the mid-range before picking up more.

Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.”

On Wednesday (August 26), “Joe007”, a former well-known pseudonymous trader on crypto exchange Bitfinex, decided to “disclose a little known yet simple and effective investment strategy that allows anyone to become a whale within reasonable timeframe.”

The time has come to disclose a little known yet simple and effective investment strategy that allows anyone to become a whale within reasonable timeframe.

Naturally, the strategy is a bit tricky to implement correctly, so be prepared to sit through a long thread
Just buy BTC when it's way down and everyone and their dog barks about how it's going to zero soon, and sell it when it's way up and a boomer neighbor asks you for tips how to get into "the next bit coin". Duh.

Bitcoin News August 31, 2020

A record 3.5 million crypto wallet app downloads were recorded in July 2020, representing an increase of 81% when compared to the same period last year. In addition, the number of active users went up by 110% between January 1 and August 19, 2020.

Also, recent data from shows Nigeria accounting for a greater number of Wallet downloads between August 10 and 16. From the total number of downloads of 18,613, Nigeria had 3,473 wallets ahead of the United States, which had 2,802 downloads. The same data shows India in the third position with 1,420.

Both Apptoppia and show that Nigeria is cementing its position as one of the biggest cryptocurrency markets in the world.


Created 3 weeks, 2 days ago.

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