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How this Simple Chart Predicted the Bitcoin Crash – When Is a Good Time to Buy Again?

Last week, we spotted a few major warning signs on the chart that Bitcoin was going to have a large correction, and I also shared them in this free FB discussion group. This group is one of the fastest growing communities on Cryptocurrencies, and we are planning to use it to provide free education and trade signals.

 

Looking at the current chart, we have seen a rough 25% correction, and I think there might be another leg of correction before the major trend resumes upwards. For those who managed to close their long positions to avoid this correction, as well as those who are waiting on the sidelines, this could be an excellent chance to get in once the correction is over.

My new trainer (the crypto expert) and I will be sharing more this Tuesday at the last workshop of 2017, and do some live analysis on the various cryptocurrencies.

See you there! 😀

Chat with SGX CEO: Will Bitcoin Get Listed on SGX?

Last week, one of our trainers, Jun Hao, had a interesting time listening to Mr Loh Boon Chye, CEO of SGX (Singapore Exchange Limited). He spoke about how SGX functions in Singapore and what role it plays in the Singapore’s trading market. It was interesting to note that SGX not just list our own company from singapore but 30% in fact comes from international company from all over the world.

“Before he ended the presentation, we had a discussion on the future of the global and Singapore’s economy. I asked for his take on Bitcoin as Cryptocurrency was featured in one of his slides under “Future of SGX” together with artificial intelligence and blockchain technology.”

He said that SGX might potentially become a clearing house for Cryptocurrencies simply because the market capitalization of Bitcoin increased 5 folds from $40 billion to $200 billion this year. However, he also mentioned that due to the volatility in prices for bitcoin, it would take awhile before it will get listed on the SGX exchange.

However, we are seeing more and more countries taking on bitcoin and other cryptocurrencies into its exchanges and i believe it is a matter of time before Singapore would do the same.

Japan’s national government was one of the first to take action and their exchanges were required to provide annual audits and are subjected to “know your customer” anti-money laundering regulations. By regulating the currency, Japan has technically officially recognised bitcoin as a legal method of payment. That would definitely happen for Singapore once the Singapore Government is able to find a way to finally regulate these cryptocurrencies.

A listing on SGX will definitely give Bitcoin and crptocurrencies more “mainstream” status, and I think it is only a matter of time before that happens. Until then, stay tuned! 😀

[New Video] How to Profit from the Upcoming Segwit2x in Bitcoin

In mid November, there is a major event called Segwit2x for Bitcoin which will present a rare once-off opportunity to profit from the cryptocurrency market, especially if you are still on the sidelines and have missed out on the big run in cryptocurrencies in the past few months.

In this video, our crypto trainer, Jun Hao, has done a detailed analysis on past major events to identify which coins have the biggest potential for the largest gains, and where you should be putting your money before this major event.

In addition, we are in the midst of building one of the largest communities on forex and cryptocurrencies, and we would like to invite you to join our free FB discussion group for more daily updates and trading opportunities: https://www.facebook.com/groups/livetradingnetwork/

Bitcoin Hits New High Above $5000 – There Will Be Another Buying Opportunity Very Soon!

Just yesterday, Bitcoin hit a new high again, breaking above the $5000 barrier, and bringing double digit gains to all those vested.

While there has been much speculation on this fundamentals of this cryptocurrency, it was actually a pretty familiar pattern for those used to reading the charts. I will explain more in the chart below, and show why there is going to be a good buying opportunity really soon.

Trade call and chart posted on our official Synapse Trading FB page – before the breakout!

 

If you look at this chart of Bitcoin, you will see that the majority of the price bars are green in colour, meaning the buyers have always been in control of this counter.

In addition, the counter has been moving up in a series of higher highs and higher lows, which is a classic sign up an uptrend.

Which means that all you need to do is to enter on dips in the price, as explained in my previous article.

 

The next question of course is how far can it go, and for this we can use the breakout projection technique, which would give a projection of about $6500.

But here is the exciting part: In such a breakout, especially at a key number, there is a very good chance (not 100%, but high), that the price will pull back to test the $5000 region again.

Yes, you heard right. If you had missed the previous move, hopefully there is another chance. I will be waiting to add on to my positions.

If it goes from $5000 to $6500, that is a gain of 30%, which is way better returns than buying any stock or REIT. And it could happen in weeks/months.

I will continue to monitor this counter. In the meantime, trade safe, and win big! 😀

5 Unconventional Ways You Can Make Money From Bitcoin (And Other Cryptocurrencies)

Firstly, what is Bitcoin and how does it work?

In simple terms, Bitcoin is a cryptocurrency, which is essentially a currency that is not owned by any particular group or person. It allows fast and cheap transactions, and the more people start to use it, the more its value increases. In fact, if you had bought $5 worth of Bitcoins 7 years ago, it would now be worth $4-5M.

And bitcoin could still be in its infancy, since its number of transactions are only a fraction of what the banks and other financial institutions are currently doing. Which means there is a huge potential for more upside. So, how can we get a share of the pie?

1. Investing in Bitcoins

This is the most common way for retail investors to get in on the action, by simply opening an account and purchasing the coins. Some of the common platforms are Coinbase and Coinhako, and it is not hard to open an account and take a nibble. The challenge here is making sure you do not end up buying at the high, so take advantage of price dips (usually happens when there is some negative news about cryptocurrencies) to accumulate more coins.

2. Trading Bitcoin Derivatives

If you are more interested in profiting from the short-term movements in Bitcoin, then you can use derivative instruments that track the price of Bitcoin, for example products like CFDs (contract for differences). The price of the derivative will track the price of Bitcoin, moving up and down in sync with the actual price of Bitcoin, so by buying or selling the derivative, you can profit from the price moves in Bitcoin without actually buying or owning Bitcoin. To do this well, you will need to know how to read charts and price action.

Sharing live on #cryptocurrencies like #bitcoin and #ethereum ? Are you ready for the next big thing? #visionaryinvesting

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

3. Lending out Bitcoins

Lending is perhaps the oldest way to use money to make money. Basically, you loan out money to a relevant party and they pay you back, with interest. Interest rates will vary with the risk involved. If you get collateral in exchange for your loan, interest rates will be low. No collateral means higher risks, but it also means higher interest rates. So if you have already purchased some Bitcoins, you can loan them out for some extra interest instead of just keeping them in your account.

4. Bitcoin Mining

Bitcoins are created through solving complex algorithms that create blocks that are added to the public ledger. The public ledger is the history of all transactions conducted through bitcoin. Basically, miners build the public ledger and allow the whole bitcoin system to function. As they create new blocks, miners are rewarded with new Bitcoins. This encourages more miners to get in on the action, which allows the Bitcoin community to grow. In the past, people could use their home computers to mine Bitcoins, but over time mining has become more difficult as the algorithms have become more complex. Now, you’ll either have to buy a specially built mining rig, or join up with a Bitcoin mining pool that harnesses the power of multiple computers.

5. Bitcoin Arbitrage

This is perhaps the least common way of making money from Bitcoins due to its difficulty level. If you have started dabbling in Bitcoins, you might have noticed that the prices of Bitcoins can vary a lot across different exchanges. For example, if the Bitcoins in Singapore are cheaper than the ones in China, you could buy some Bitcoins here, transfer them to China, and cash them out over there. The challenge however would be bringing your money back to Singapore, and also you would need a bank account in China. But some people have managed to come up with creative solutions around theses problems.