Now I'm not normally a crypto blogging kind of person, neither am I spectacularly interested in topic of Tokenomics or Cyptokenomics and ordinarily, I doubt I or any of my regular readers would have imagined me making a post about crypto.
Regardless the #leofinance February monthly prompt challenge has gotten me writing about this and well, I've decided to see how it goes.
I know I said I'm not spectacularly interested in cryptocurrency, yet that could be something seen as a misinterpretation as I am using cryptocurrency right now馃槀.
Cryptocurrency is slowly taking over right now and everybody has to take note of that, especially us younger generation who would have to build our futures using these currencies.
I for one have decided acting on that as I've decided to take on the act of trading in Forex.
Currently using a demo account so I've experimented a lot and made quite some profit that if I saw in real life might give me a heart attack, I've also made some losses which if I saw in real life would kill me馃槀
Screenshot of my closed orders on exness (Demo Account)
The #leo prompt for today is Big Movement in the Crypto Market and at first I was thinking of what to write about.
Well, I guess there's nothing Bigger right now in the crypto world than the Bitcoin Spot ETF statement which was finally approved on January.
This statement spread like wildfire in the crypto world.
Our #cryptoonleo tag thread users like
@taskmaster seemed to have it in 5 out of 10 threads they posted on crypto that month馃槀
At first I didn't understand what it meant, I just knew it was a big deal but after I read about it here, I finally understand how big a move it is in the crypto world.
Of course this ETF approval had a huge impact on the giant coin, as Bitcoin legit flew to a 52 week high of $49,000 dollars.
It shocked everybody 馃槶馃槶馃槶
There were those who where holding Bitcoin who where ecstatic, looking at their wallets and checking for the prices of the latest islands for sale.
Then those who were saving up to buy the giant of a coin who looked in dismay at the unwanted growth spurt.
It shook me in particular.
I had Bitcoin on sell in my demo account, hadn't fully grasped the concept of Stop loss and well let's just say all my money went for vanishing 馃槶馃槶.
The bull ecstasy came to a close though as the sellers managed to push the price back down to $42,000 later in the same January. Shocking everyone again.
Including me who then had the coin on buy 馃槶馃槶馃槶
Since then, the bears has been attacking Bitcoin regularly, stopping it on multiple attempts from rising past the $43,000 benchmark.
In comparison, other big-time coins seems to be going up progressively this week, as the bulls are applying pressure little by little.
Is Bitcoin about to make another Big Move Soon?
The ETF statement approval has made the coin incredibly volatile at this moment, investors are simply waiting for the hairline trigger which would make the bull go for another run on the crypto rodeo with Bitcoin riding on its back.
When is it going to happen?
Well nobody knows.
But if you want to hear the thoughts of a budding forex whale and crypto enthusiast like myself.
I'd say it's going to happen pretty soon...
I doubt I need to say this but let me just point out that I'm not giving any crypto advice in that last paragraph.
I'm simply pointing out what I believe. Do your own research!!
- Header Image was gotten from here and edited using Canva
- Other images are screenshots of my Exness app
- Gifs were gotten from Tenor
My Instagram page.