In this regular webinar we took a look at the current price action in cryptocurrency heavyweights Bitcoin (BTC) and Ethereum (ETH) and discussed chart set-ups and what they may be pointing to after both currencies entered bear market territory at the start of the week. Discussions included –
- Initial coin offerings (ICOs) a form of digital share, came under fire Monday after China banned any new offerings and started investigating 60 current ICO exchanges.
- Ethereum fell faster and further than Bitcoin due to the ban but picked back up sharply as traders from Korea and China re-entered the market. The volume of trade in Korean Won and Chinese Yuan is driving the market in certain digital assets.
- Discipline is a must in the volatile world of digital currencies with stops a must, while trading psychology and risk management is a pre-requisite. We discussed where to find trading guides to help traders not just make better decisions but also how to cut out their mistakes.
If you would like to know how to become a better trader, and learn what the most common trading mistakes are, you can access our free guides here.
If you missed this webinar and would like to know about future events, including next week’s Bitcoin webinar, see the full DailyFX webinar schedule here.
--- Written by Nick Cawley, Analyst
To contact Nick, email him at nicholas.cawley@ig.com
Follow Nick on Twitter @nickcawley1
