Dacxi Blog

This week in price news: Prices consolidate at record highs. Crypto prices went sideways this week, as the reality of November’s 40% growth and Bitcoin’s near-record high sank into the market. Not only has there been a firm focus on Bitcoin and its ‘Blue Chip’ coins, but many of the other ‘Alt’ coins have seen prices rocket too, as traders seek to maximise the mega-return hype. But as we said in our webinars this week, play in the Alts with absolute caution. Alts are like a casino where only the Blue Chip coins have a confident future – and for every Alt coin that booms, another out there flops. There’s endless amount of talk about the future and reasons for growth. Frankly, I think it’s all hot air, as the reason for growth is simple: there are more buyers than sellers. The long-awaited buying power of large investment funds has arrived – which, combined with a new wave of retail buyers, means prices must inevitably go up. Expect the market to take a breath, maybe even track down anot...

There are many types of people who are trying to enter the crypto world: gamblers, traders and investors. They’re all very different with different goals. It can be confusing to know the difference between these three, so you need to understand what they want out of the coins they buy and hold. The first step in taking your cryptocurrency journey to the next level is figuring out what type of crypto investor you are. Crypto-Trader : The crypto trader is a speculator, looking to make a short to medium-term profit. Their goal is not necessarily to hold onto their investment for any particular length of time, but instead simply to make as much money as possible. Sometimes this might mean going into and out of an investment within hours or days. They may often use technical analysis, relying on tools such as scanners and charts that tell them when a coin has “hit bottom” or is “oversold” so that they can quickly buy-in. Everybody and his dog talk about crypto trading and it’s no secret -...