There indeed are a couple of reasons to be optimistic about Bitcoin and cryptocurrency trading. The digital payment giant, Visa (NYSE:V), has made it clear that the USD Coin can now be used within its payment scope. This increases the odds that Bitcoin will be used as a means of payment at some point in the future. Many celebrities see the potential of Bitcoin—Elon Musk, 50 Cent, Snoop Dogg, and Gwyneth Paltrow are only some of the people who have enthusiastically joined this growing global investment movement. And even though cryptocurrency is still a highly volatile asset, it provides unparalleled arbitrage opportunities due to the absence of a centralized regulatory authority setting definitive price points.
Especially during the COVID-19 pandemic, the demand for cryptocurrency-fuelled products has increased to a degree never seen before. With travel time to and from the office having become a thing of the past, on-screen time has faced unparalleled growth. This is one reason why Decoin decided to create an innovative social trading platform that allows traders to openly interact and cultivate their best strategic approach within their community of like-minded individuals. Using its novel feature of performance-based evaluation, participants are able to easily identify the most successful traders and decide whose footsteps it makes sense to follow.
I recently spoke to Crypto Bull, one of Decoin’s top traders, and took advantage of the opportunity to ask him for his insights on the functionality of the platform and suggestions on the optimal trading strategy that would benefit anyone starting their cryptocurrency journey.
Short-term trading is a better approach for uncertain periods, and holding works better during bearish times.
Loss is part of the game. The most important thing is knowing you made the right decision.
It taught me to be always disciplined and stick to the original plan, even when there are big losses. This discipline will ensure that you make the biggest gains in the future.
In Decoin, freshers can watch recorded sessions of traders and copy these top traders’ actions. I think this combination can be beneficial to new traders till they gain confidence.
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Source: Cryptocurrency - investing.com
