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RE: Crypto Daily News : Comment and Win Steems Daily
It looks very easy to join the event, everything is on https://news.bitcoin.com.
And the most noticeable news to me today is: https://news.bitcoin.com/the-weekly-coinbase-custody-opens-malta-adopts-crypto-law-bittrex-invades-europe/ . Malta Adopts Crypto Law, Bittrex Invades Europe
:)
Yes, there are more than enough sources of news. Which ones are significant enough to cause a discussion to start?
Oh I know what you mean, this also looks at the impact of news to the market. Tin can own the market is not much for 1 day!
As you can see, I still can not find the reason why the market went down today. :(
Crypto ups and downs seem to have very correlation with the news. But in the traditional equity market, there is a saying that goes something like this "buy the rumor; sell the news". I guess in the case of cryptos, there are lots of rumors and speculations that by the time it becomes the REAL news, some may have over-estimated the true positive value of the events and therefore the market went down as a result. Let's take for example, if you think that next week, Steemit will go up because they're coming out this great new feature that outside to "like/upvote" your posts and pay for it. You think that it's worth $100 increase so you bought Steem at $1.65 today like 50% of the other speculators out there. Some people (25%) think it's only worth $50 and some (25%) only think it's worth $10. Based on this simple calculation, the price of Steem should be worth approximately $65. Price would increase to $65 as the news become more real. And let's assume next week come and Steemit Inc came out with the features. Everyone loves it. The calculation of the additional benefits is only worth $10. The price will drop down to $10 because everyone had overbought the rumor.
So as to why the market went down today in some specific example, you have to figure out what rumors are people trading on and whether they were overconfidence on the delivery of that information to realize the benefits. If you can analyze and make a true determine of the value-added of any rumor/speculation to buy or sell, you will be a rich man. Let me know when you found that model for crypto.
A logical and valuable. Thanks for sharing this. To be TRADER I will have to learn a lot, this argument is a knowledge to remember when evaluating the market.
News is always important to a trader, but evaluating the impact of a news on the market needs experience and level. So not everyone makes the same decision.
Thank a lot @nuoctuong