Jasmine | TOKEN 2049 | Sep 27 - Oct 2
Jasmine | TOKEN 2049 | Sep 27 - Oct 2 3 minutes reading from Bitcoin

Tips for Cryptocurrency Followers: Basics

Traditional fundamental analysis or all macroeconomic related factors are highly crucial to us (crypto traders/investors) during this period. If you are new to them, here are some personal tips that I use to follow the news. forextrading Crypto BTC StocksMarket

A thread 🧵

Having working experience in crypto & forex markets gives me some perks during this period when the global economic situation is covered with uncertainty and the BTC price is proven to have a positive correlation with the high-beta stocks - data reported by @MessariCrypto

1/ Find the site to follow the schedule for all important news releases (speeches, economic indicators, etc).

Personally, I always stick to @ForexFactory economic calendar since I started to trade Forex years ago.

1.1/ It basically has everything I needed like time, fast & exact figures, impact levels, and other related articles for further analysis.

1.2/ Besides that, you still need to follow the crypto news, as usual, to notice the particular industry factors as well. I’m currently following @TheBlock__ , @MessariCrypto , @BitcoinMagazine , @Cointelegraph 👩‍💻

2/ Identify the news/economic indicators that are proven to have impact on the BTC price in the last 6 months despite the industry news, and learn the reasons 📰

2.1/ E.g. Negative CPI release (compared to forecast figure) => bad news for the economy => stock markets dump => it indicates that the money flow is getting out of the risky trading assets. BTC also showed the same price movement during this time.

2.2/ There are lots of high-impact news/releases on the calendar like FOMC meetings, CPI, PPI, Unemployment Rate, etc. If you don't know what it is, try to look for the explanation on

InvestopediaInvestopedia

3/ Follow & turn on the notification for credible international financial sites like Bloomberg, CNBC,

etc to get updated immediately if there is any unusual/hot news that might cause considerable fluctuation in all financial markets (including crypto).

Investing.com - Stock Market Quotes & Financial NewsInvesting.com - Stock Market Quotes & Financial News

4/ Get familiar with the term “Buy the rumors, sell the news” Price could have performed its action before the actual news came out as it reflects the market sentiment. Be cautious if you intend to trade during the news release and think the price will surge/dump at that time.

Hope this would be helpful to you 😊 Let me know if you have any other tips to ride the waves 🙏

This post is based on this twitter thread.

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