Cryptocurrency trading has been increasingly popular for some years now. In order to make it really effective, it is very important to have Bitcoin Price Predictions available.
If you are reading this article now, it means that you are aware of how relevant these Bitcoin Price Predictions are. You have almost certainly read other guides as well but these have not satisfied you.
Just to help you in this regard, we have prepared this article, which not only contains clear and simple information about the features of Bitcoin Price Predictions, but also specifics on how to get them for free thanks to brokers such as eToro.
As you can see, we have also decided to include an index where you can simply select the topics that interest you the most.
Bitcoin Price Predictions: Why It Is Important
Having Bitcoin Price Predictions available today is more important than ever. The main reason concerns the fact that the main tool to invest with this cryptocurrency is CFDs (Contract for Difference), a derivative that allows you to replicate the performance of the asset without having to buy it concretely.
Bitcoin, in fact, is an extremely volatile asset. Buying it in the true sense of the word means exposing yourself to a high risk in the event of a decrease in value. Honestly, those who buy this cryptocurrency today is not a real investor but an idealist who, by focusing on this cryptocurrency, tries to give his contribution to change the world.
Advantages of CFDs
Investing is something else and with CFDs you can do it. To do so, you only need to guess the price performance of an asset. If you think that the value of the Bitcoin may increase over time, you just need to open a long position (buy).
Otherwise, you need to open a short one (short sale). From this, it is clear how you can earn with Bitcoins even during losses of the above-mentioned cryptocurrency (so no, Bitcoin trading did not end with a negative peak after the stellar value increase of 2017). Moreover, it is clear how making Bitcoin Price Predictions is essential to invest effectively.
There are several ways to make reliable Bitcoin Price Predictions. One of the most effective is to identify the main cryptocurrency market mover. First of all, remember that these are not direct market movers. In order to identify them, it is essential to have clear ideas about events that can influence the price of the Bitcoin.
The Importance of Macroeconomic Events
In this list, it is possible to remember the statements of politicians and professional figures whose endorsements have a weight for Bitcoin. Even if the Bitcoin has nothing to do with the Central Banks, the directors of these companies, when they express more or less optimistic forecasts about the future of the cryptocurrency, have a considerable weight on its value.
It is also very important to carry out this technical analysis. In this case, the reference tools are charts, thanks to which it is possible to understand the moment when a certain price trend reverses.
In this case, the trader who invests in Bitcoin has at his disposal so-called trading indicators or mathematical formulas that can represent the factors that affect the price of the asset in question.
Only by observing a chart, the best technical analysts are able to understand if the price of a cryptocurrency is going to fall or rise in the short, medium or long term.
Studying these theoretical notions is very useful. For beginners, however, it can also be difficult. For this reason, it is good to refer to tools such as Copy Trading. You can follow us in the next few lines to find out why it is an excellent ally for those looking for Bitcoin forecasts.
Bitcoin Price Predictions: the Advantages of Copy Trading
Copy Trading is a very important reference point for those who want to get Bitcoin Price Predictions. It is a mechanism that has revolutionized the world of finance. Copy Trading is the result of the union between the latter and the world of social networks.
These two areas together give life to social trading, i.e. the possibility to follow others by automatically replicating the strategies adopted by those who have obtained results.
The picture just described is the beating heart of eToro, an internationally regulated broker that allows members to copy what has been done by the most skilled traders, gurus.
Thanks to this approach, you can start investing in Bitcoin even from scratch.
Copy Trading Features
As already mentioned, everything is based on a mechanism similar in every way to that of social networks like Facebook. Gurus share information about their strategy through message boards. Other users have the possibility to automatically replicate their strategies (realized starting from Bitcoin forecasts) and to invest in an effective way.
Warning: to be really successful with eToro Copy Trading (click here to open the account) and make the most of Bitcoin price forecasts you must not fall into the naivety of “falling in love” with the strategy of a single investor. To avoid problems, you should focus on at least a dozen gurus. This is the only way to diversify the risk.
Finding investors to follow and replicate is very simple. eToro, in fact, provides numerous alternatives to refine the search. In fact, gurus can be selected on the basis of the asset of interest, Bitcoin and other cryptocurrency, but also depending on the country of origin, risk profile, number of copiers, a very important indicator for the success of the individual guru.
If you think eToro is a scam for anyone looking for effective Bitcoin Price Predictions, you might want to reconsider.
The Role of Gurus
Gurus have the advantage of sharing effective strategies with the rest of the eToro community. The more people who follow them, the more they earn. Before you try this out and if you don’t feel you have enough experience, you can always open a demo account.
With this tool, you can practice and hone your techniques. The demo account is free and unlimited. After a few hours, however, you should make the leap to real money. The reason is very simple: as long as you work with the demo account, you can call in the best Bitcoin Price Predictions, but you won’t win or lose anything. With the real money account, you can profit from your Bitcoin investments. To start trading with real money, simply make a deposit of 200 euros.
In any case, remember that registration is 100% free, there are no costs and you can trade with the demo account (without paying anything) for as long as you want.
Click here to sign up for free on eToroMoney Management
However, we must not forget that all this exposes us to an unavoidable risk. In trading, in fact, there is no such thing as easy money. After opening your account on eToro, it is, therefore, advisable to implement some strategies, such as Money Management. Thanks to this tactic, it is possible to diversify the risk at its best. To do so, simply divide the capital into several parts, each part being allocated to a single transaction (ideally, you should not bet more than 5% each time).
As you can see, eToro is really an excellent reference point for obtaining Bitcoin Price Predictions. But it is not the only one. There is also another alternative, which allows you to access forecasts on Bitcoin performance released by experts. Follow us in the next few lines to learn more!
Are Bitcoin Price Predictions From Automatic Software Reliable?
If you don’t have much experience with Bitcoin investments, you often ask yourself questions about the reliability of Bitcoin price forecasts made by automated software. The answer to these questions is “depends”.
Also eToro with its Copy Trading offers a form of automatic Bitcoin trading. The broker in question (click here to open an account) is reliable because it is internationally regulated, with a CySEC license.
These guarantees are absolutely not given by sites such as Bitcoin Code, a portal that promises the possibility, through automatic software and its forecasts, to invest effectively in Bitcoin, earning tens of thousands of euros in a very short time.
Watch out for Scams
Why don’t you trust these pseudo predictions to buy Bitcoins? First of all, because portals like Bitcoin Code are not regulated.
Even if they were developed with the best intentions, if there are no regulations, you should close everything and change the platform. We have mentioned the intentions that, in the case of sites like Bitcoin Code, are anything but positive. The deposits on this portal, once made, disappear into a sort of financial black hole. The sums in question are irrecoverable. The hackers behind the systems, in fact, move everything to offshore accounts in countries where the Italian judiciary can do nothing.
In cases like Bitcoin Code, there is also the problem of the easy money promised. As already said: easy money does not exist, neither in life nor in the world of investments.
Brokers like eToro make this perfectly clear, reminding those who start trading Bitcoin that once they open the account with real money, the capital is at risk. Eliminating this is impossible and trying is dangerous. Those who try to do so, in fact, incur huge losses. As already mentioned, however, brokers provide excellent aids, such as the demo account.
The Future of Bitcoin
Opinions about Bitcoin are conflicting and indeed no one can predict with certainty what Bitcoin will do in the more or less distant future. Surely Bitcoin has already changed the world: the concept of cryptocurrency and blockchain will remain forever.
Then no one can say if Bitcoin will still remain the dominant cryptocurrency in five years: there are many emerging cryptocurrencies that could take its place and it could even happen that a new revolutionary project will be born that manages to conquer the market.
Or it could happen that Bitcoin really enters in our daily life, as exchange and/or reserve currency. Maybe in five years the big investment funds will have Bitcoin among their main assets.
Each of these events could increase or decrease the price of Bitcoin. Making Bitcoin price predictions in the long run is really difficult, almost impossible, also because the history of cryptocurrency is far too short.
In any case, for those who decide to invest in Bitcoin and do so with CFDs, there are no problems: you can earn money both when the price goes up and when it goes down, just make correct short-term forecasts (and it’s not difficult)!
Alternative Cryptocurrency Price Predictions
Making predictions about alternative cryptocurrency may be easier than making predictions about Bitcoin.
Why is it that predicting Ethereum or Ripple may be easier than predicting Bitcoin?
Simple, even if they have their own stories (good news and bad news) alternative cryptocurrencies always follow the price of Bitcoin. The best news in the world might come out on Ripple, but if Bitcoin goes down that day, then Ripple will most likely go down too.
There are specialized cryptocurrency traders who do just that: they follow Bitcoin’s quotes and operate on alternative cryptocurrencies. They usually get good results because they can make reliable short-term forecasts.
Bitcoin Price Predictions: Further Considerations
Making effective Bitcoin Price Predictions is also important for those who invest in other cryptocurrencies, such as Ethereum. Bitcoin is, in fact, the main cryptocurrency and its price changes also affect the numbers of other digital currencies.
If you are going to embrace cryptocurrency investments in a comprehensive way, it is essential to familiarize yourself with Bitcoin forecasts. Studying technical analysis is very useful in this regard.
There is no shortage of solutions to find quality Bitcoin Price Forecasts!
Conclusion
Before concluding this article, it is good to make this clarification: in case you decide to invest in Bitcoin, do it with authorized and regulated brokers because not all solutions are safe and there could be scams related to Bitcoin.
What do you think about the advice we gave you on this matter? If you think they are interesting, you can share them with your Facebook contacts and other social media contacts, so that other users can discover practical tips for investing in Bitcoin.
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