- In traditional markets, the news is the most important when making a trade.
- In crypto, the news cycle is much faster than in traditional trades.
- News requires a special kind of skill to nail it and use it in trades.
When you’re new to trading cryptocurrencies, it’s easy to get caught up in the FOMO (fear of missing out). You see a coin on CoinMarketCap that’s pumping and you want to get in on the action. But before you start buying, it’s important to remember that trading crypto is more complicated than just following the news.
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In traditional markets, the news is one of the most important factors to consider when making a trade. But in crypto, the news cycle is much faster, and often times the market has already priced in the news by the time it hits the presses.
This was certainly the case with Bitcoin’s price pump in late 2017. By the time mainstream media started covering the story, the market had already made its move and prices were beginning to correct. This means that every trader is should get a firm understanding of technical analysis and charting before going ahead and trying to trade on news.
While news can provide excellent trading opportunities, it requires a special kind of skill to nail it. So, if you’re a new trader, it’s best to stay away from trades that are in response to news and focus on learning how to read the markets. The best way to do this is to practice on a demo account or with small amounts of real money until you’re confident in your ability to read the markets. Only then should you start trading with larger amounts.
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disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
