Guide to Cryptocurrency Exchanges
Most investors by now are aware of the cryptocurrency craze. Bitcoin’s price is soaring, and investors all over the world are caught in the mire of “do I invest? Or is this a bubble waiting to burst?”
Nobody has the definitive answer to those questions, and there are plenty of risks involved with investing in cryptocurrency. But many investors are just looking for some basic answers first, like where and how to invest in bitcoin and other cryptocurrencies. This article will focus on the cryptocurrency exchanges, where investors can engage in the buying and selling of bitcoin and other cryptocurrencies. Think of it like the New York Stock Exchange, but instead of traditional stocks being traded its bitcoin and ethereum and ripple and litecoin being bought and sold.
Here are four of the more widely used and known cryptocurrency exchanges. To note, we (Tickeron, Inc.) do not recommend one exchange over another and investors should be advised that trading in cryptocurrencies involves the potential risk of loss.
1) Coinbase — this is perhaps the most popular and widely known cryptocurrency exchange in the world. You can use Coinbase’s platform to buy and sell bitcoin, ethereum, and others and as a means for operating as your online wallet. The platform is user-friendly with an easy-to-use app, has solid customer support, and is regarded as one of the more trusted exchanges due to robust security and some insurance protection. Of course, no exchange is completely free from hackers and rogue actors, but Coinbase is known to have solid security in place.
2) Bittrex — this is a much more sophisticated and diverse exchange than Coinbase, as here traders can buy and sell hundreds of different kinds of cryptocurrencies, such as bitcoin, litecoin, ripple, and others. The platform is user friendly and has a good security track record, but it lacks a mobile app and has been slow to add new tokens that hit the market via ICOs.
3) Bitfinex — this is boasted as the world’s largest exchange by volume, and it has good relative liquidity and a solid trading engine. It even allows traders to use margin and other features not found on other exchanges. The coin selection is smaller than that of Bittrex, but the features of Bitfinex arguably outstrip what is available to traders on Bittrex. One point of contention, however, is that Bitfinex has been hacked three times before.
4) Bitstamp — this exchange is located in Europe, and is the large bitcoin exchange there. Bitstamp offers trading pairs of bitcoin, bitcoin cash, and ethereum. Bitstamp has a solid reputation in the cryptocurrency community, even though the platform has been hacked in the past. One reason it is highly regarded is because it’s been around the longest, and has developed a solid reputation over that time. It is known as one of the more conservative cryptocurrency exchanges, with its prices for coins often lagging behind others.
There are dozens of exchanges to choose from, and again we just list these as examples of some of the most widely-known ones. If you’re looking for an exchange on which to buy and sell cryptocurrencies, it makes sense to do your research to find out the security features, customer service, transaction costs, track record, whether it’s been hacked, and other features that are of importance to you.
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BTC.X in +5.11% Uptrend, advancing for three consecutive days on May 28, 2023
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where BTC.X advanced for three days, in of 447 cases, the price rose further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 28, 2023. You may want to consider a long position or call options on BTC.X as a result. In of 127 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on May 27, 2023. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 59 cases over the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
BTC.X moved below its 50-day moving average on May 07, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BTC.X crossed bearishly below the 50-day moving average on May 10, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 21 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BTC.X broke above its upper Bollinger Band on May 28, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for BTC.X entered a downward trend on May 19, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
