Bitcoin Golden Cross had happened in mid Sep 2021! Should you buy Bitcoin now? If you are not familiar with cryptocurrency, I strongly suggest you read this guide to cryptocurrencies infographics first and our previous posts in the links at the end of this article.
Guide To Cryptocurrencies
Before you start trading in Bitcoin or any cryptocurrencies, you might want to understand what this is about (especially if you are new to this marketspace). I found the Q&A section on my country local newspaper 16 Oct 2021 Straits Times quite useful.
There is also an guide to cryptocurrencies infographics which explains the following:
- Which are the Top 10 cryptocurrencies by market value (HINT: Personally I only trade these coins)
- How cryptocurrency and blockchain works
- History of currencies
- Environmental impact due to mining
- Cryptocurrency regulations around the world (HINT: this is important for your trading in your own country. For example, in Singapore trading using Binance (US) is now restricted.
Top 10 Cryptocurrency
Due to the high volatility in cryptocurrency trading, personally I only trade in the top 10 in this space. If you want to explore this as well, below are the top 10 cryptocurrency (by market value) currently:
- (BTC) Bitcoin
- (ETH) Ethereum
- (BNB) Binance Coin
- (ADA) Cardano
- (USDT) Tether
- (XRP) XRP
- (SOL) Solana
- (DOT) Polkadot
- (USDC) USD Coin
- (DOGE) Dogecoin
Bitcoin Golden Cross Had Happened
Recently there have some renewed interest in Bitcoin after it started to rally.
Earlier on in my 22 Aug 2021 post, I have highlighted that the Golden Cross signal is coming. With reference to the Yahoo Finance chart below, this had occurred on 15 Sep 2021. And this coin has been going on an uptrend since then. I have bought in in batches from 15 Sep 2021 to early Oct 2021.
Should You Buy BTC now?
So should you buy in Bitcoin now? Personally I have stop adding to my position now as I noted it is approaching the previous High. Hence, there might be some pull-back coming soon especially after the spike up 2 days ago (with reference to the chart above). Please do your due diligence check before you take any trade.
Ok, that’s it today for this article. Trade safe!