Currency speculation, despite the opinion of many, is by no means a new one and going beyond the usual form of earnings. Exchange transactions have always been used in trade, starting from the very inception of human civilization. Over time, only the types of currencies changed and the methods became more perfect. In the era of the development of information and computing technologies, the sphere has moved to virtual spaces and has become accessible to ordinary citizens. To build a career as a successful trader, it is not necessary to own an impressive starting capital. It is enough to have a PC or any modern gadget with access to the web and not a very large amount, which, with a successful set of circumstances, can be multiplied almost endlessly.
Trading is one of the most popular and profitable ways to get Bitcoins. A beginner currency speculator should “pick up all the useful tools in the treasury of knowledge” that will help facilitate the workflow. Bitcoinwisdom is a service with which you can track the growth dynamics of currencies. The site provides a history of all currency pairs over the past 3 years, based on this information, traders get the opportunity to make forecasts for future periods, predicting the behavior of the exchange rate of currency pairs.
Trading exchanges are conditionally divided into several categories - on some they trade Bitcoins in exchange for "classic money", on other forks they exchange for Bitcoins. The cryptocurrency volatility allows it to “rise” in a matter of seconds. Although, depreciation is just as rapid. If you know how to analyze Bitcoinwisdom, then you can easily buy Bitcoins at the most attractive cost.
The basic principles of trade:
A trader acquires cryptocurrency at the time of the fall of the course.
A few days later, when reaching the maximum rate, the trader sells Bitcoins.
At first glance, everything is quite simple. But at the same time, at any time, the cryptocurrency rate may decline by 30-50%. If the dollar exchange rate fluctuates within a few cents, then Bitcoins today can cost $ 500, and tomorrow - $ 150, or, conversely, $ 750. Many newcomers at the time when the rate begins to fall, sell cryptocurrency for fear of tremendous financial losses. Experienced traders follow the courses at Bitcoinwisdom com and wait for the right moment.
According to experts, by the end of 2016, the maximum is at the beginning of 2017, the cost of Bitcoin will reach $ 1,000. The current exchange rate as of August 16, 2016 averages 565 US dollars. The fact is that now the volume of cryptocurrency has already been practically extracted, in which the amount of remuneration is reduced by 2 times. For the solved block, the miners will receive no longer 25 Bitcoins, but only 12.5 coins. The consequence of this step will be the legitimate rise in the price of cryptocurrency, because the more difficult the mining, the more expensive the product.
Beginning traders will need knowledge on how to work with Bitcoinwisdom.com. However, one should be prepared for the fact that traders who invest small amounts do not dictate the situation on the market, but only adjust to it. On the largest exchanges you can meet couples in the amount of up to 1-1.5 million rubles, it is these traders that significantly affect the exchange rate. One person, having about $ 25 million in hand, can bring down the Bitcoin rate by 50% in about 40 minutes. An inexperienced currency speculator can lose everything at that moment.
Of course, traders can independently track rate changes. To do this, open several exchanges and constantly update them. But why create additional problems for yourself? Having studied the description of Bitcoinwisdom.com, you can analyze the exchange rate online on the most top exchanges.
On the main page of the service a summary table is presented, which displays:
The course of Bitcoin, Litecoin and Altcoins is currently on all major trading exchanges.
The dynamics of changes in the course of 24 hours, 7 days and 30 days.
As soon as changes occur on the exchange on a particular exchange (for example, rise or fall), the corresponding field on the left is highlighted in blue.
The system in the left column, next to the fiat money symbol, displays the average exchange rate on all exchanges. When, for example, clicking on USD, the window opens and a user of the Bitcoinwisdom.com service can see on which particular exchange the changes have occurred.
All links with the names of exchanges are clickable. However, they redirect the user from the main page not to the exchange website, but to a new page where you can track changes in the rate and much more.
For each exchange, the system allows you to:
Track current trading schedules, consider cryptocurrency activity peaks.
Draw graphs and analyze using Fibonacci grids.
Use the online calculator to get information on the profitability of cryptocurrency mining.
The service provides everything for an objective analysis.and the current situation and forecast changes in future rates.
How to analyze Bitcoinwisdom?
It is quite difficult for a beginner to figure out how to analyze Bitcoinwisdom. The service uses the same tools as the exchange. For an experienced trader, no difficulties are foreseen. Thanks to an objective and relevant assessment of the situation on all exchanges, newcomers have the opportunity to:
Fundamental analysis. It takes into account the current state of the economy, indicators on securities and stock prices of various companies.
Technical analysis. It is based on the history of quotes for a specified period of time and on total trading volumes.
Experts conduct the main analysis according to the usual Japanese candlestick chart for traders. Description Bitcoinwisdom.com follows the principles of trading. The upper and lower shadow of the candle show the maximum and minimum value of the cryptocurrency at the time of opening / closing of trading.
Candles come in several forms:
"Bearish." Displays the maximum and minimum of the day, and the current value at the time of opening and closing of trading. Indicates a depreciation over a given period of time.
"Bullish". It also displays the maximum and minimum values, however, it is painted in green (blue) color. Indicates price increases over a certain period of time.
Also when studying how to work with Bitcoinwisdom.com, the following factors should be considered:
The longer the body of the candle, the correspondingly, the more advanced the price of the pair for the specified time.
The “bullish” body of the candle indicates that the buyer has an advantage over the sellers; the “bearish” body indicates the opposite process.
The Doji candle, which looks like two lines connected perpendicularly, indicates that the market situation is uncertain. Neither buyers nor sellers have an advantage.
Experienced traders generate forecasts only for pairs quotes at the time of market close. It is completely illogical to draw conclusions during the day - the market mood is changeable, literally in 20 minutes you can see a significant change in value.
Additional service features
Bitcoinwisdom is an assistant not only for traders, but also for miners. In the upper service panel on the main page are displayed:
Current Bitcoin exchange rates to the US dollar.
Fields for login and registration of a new user.
Registering on the site is simple. A lot of information is not required - only the mailing address, login and password for authorization. Registration on the service does not allow you to log in using the same nickname and password on trading exchanges. In your personal account you can see information about the latest sessions, purchase a “Premium Account” for 0.4 Bitcoin per year. On the Bitcoinwisdom.com website, you can see all orders to buy or sell Bitcoins on exchanges.
In the “MARKETS” section, a novice trader can select one of the exchanges and go to it for bidding, as well as track the dynamics of the rate inside the service.
The MINING section contains useful information for miners. Here are displayed:
Statistics of changes in power and network complexity.
Online calculator for calculating the profitability of mining on a home computer.
It also shows (in the Adjust time section) how many days the complexity of cryptocurrency mining will approximately change (and it changes every 2016 blocks). In the Bitcoinwisdom.com description, you can also see how much it takes to generate 1 block (Block Generation Time). At the moment, solving 1 block takes a little more than 10 minutes, and 6 blocks are mined in 1 hour.
In the calculator, you need to specify the speed that a home computer can allocate for Bitcoin mining (in the "Information about equipment" section, located on the left). As a result, the miner will be able to find out how much he will be able to earn and whether it is necessary to upgrade equipment for cryptocurrency mining.
Knowing how to work with Bitcoinwisdom.com can make good money. The income of the trader directly depends on the amount invested. Although the volatility of Bitcoin and other cryptocurrencies helps to increase profits at times, even with minimal investment. In periods of stability, the cryptocurrency rate fluctuates within a few dollars. At such moments, you won’t be able to earn much. You can double or even triple the size of investments during periods of major transactions. At such a time, rate fluctuations can reach several hundred dollars.
After reducing the block reward, there is an active demand for Bitcoins. Bitcoinwisdom updates quotes every second, novice traders actively track changes. Having invested several hundred dollars in the purchase of Bitcoin now, you can begin active trading, gradually increasing the amount.
The Bitcoinwisdom resource is one of the most necessary projects for beginners in the field of trade. The information service provides an opportunity to learn the basics of trading from the very beginning. A beginner can invest a few dollars, buy a satoshi and try trading. Knowing how to analyze Bitcoinwisdom is possible with set an approximate forecast. However, you should not rely with 100% certainty on the result, because the Bitcoin rate can change in 5-10 minutes, while the trader went to the store for bread or decided to smoke on the balcony.