I've been trading and developing software for stock, forex, and recently cryptocurrency markets for over 10 years. I want to share with you guys what I think and my own viewpoint about the opportunity presented in the cryptocurrency market right now.
First of all, if I want to make decent money with minimum time and effort put in, I would look into the low-hanging fruit markets that are new and/or have lots of newbies and amateurs participating in. Why? Simply because these markets are a nearly true reflection of human psychology - fear and greed - which we understand pretty well. Frankly, you don't need fancy and/or sophisticated tools to make decent profits - just look at charts that cannot hide the naked human psychology. Using old school patterns like support and resistance lines would do the trick.
Second, more developed markets like stock and forex where there are many "predators" like large financial institutions, hedge funds, trading companies fighting each other with cutting edge and fancy weapons like high frequency trading, algorithms, artificial intelligence, so on and so on. In effect, these markets exhibit "machine" psychology in which machine algorithms are trading against each other, not much humans involved at all! Obviously, there are individual participants in the markets but insignificant in terms of capitalization. That's why many people wonder why what they learned in expensive investment or trading courses do not work well in real life.
So what are those low-hanging fruit markets right now?
Penny stock and cryptocurrency.
My focus on this post is cryptocurrency. If you are interested in penny stock, simply search it on Google.
Personally, I know a few people who are making great returns on the cryptocurrency market as investors. One important factor that investors care about is if the market is in a bubble, and if so when it's going to bust. For traders, they don't give a damn if the market is in a bubble or bust, they're trying to take a ride in both.
Most involved people I've met with are either in the investment camp or trading camp. Why not take the goods of both?
Please comment what you think, and which camp you prefer. Stay tuned for the coming posts.