Bitcoin Investors, Here’s How Monitoring Real-Time Crypto News can Boost Trading Profits
How to Monitor News on Real Time and Increase Profits While Trading?
Investing in cryptocurrencies is a difficult task that involves many risks. The market has been several times influenced by daily news and sudden events. And cryptocurrencies are very receptive to those breaking news that cover the headlines everywhere.
This shows that cryptocurrencies are headline-driven. The price of the most important cryptos will move according to the sentiment of the latest news. If there is a massive hack, virtual currencies will fall, if the SEC approves a crypto ETF, the market will grow.
Traders that want to be effective while trading their favourite virtual currencies will have to be focused on the last news and how they evolve. Monitoring what happens every single day is a key task for traders.
Some currencies can suddenly experience an exponential increase if they do not have enough liquidity or are not so known virtual currencies. In general, the 20 most valuable cryptocurrencies in the market are generally covered in most of the cryptocurrency sites. However, smaller cap coins do not receive enough exposure in the main news sites.
Active traders do not really have important news from traditional financial media. Beginners could start learning about how to trade virtual currencies, what is blockchain technology and about other cryptocurrencies. But expert investors are waiting for better information, more complete analysis and other news.
Cryptocurrency news aggregators are generally covered by dozens of press releases and sponsored stories. This is not positive since readers cannot have the information desired. Traders need to lose an important part of their time filtering news according to their needs.
Furthermore, there are companies that have good contact with some news sites. In this way, content creators are based since they receive payments from these firms. Basically, the media outlets that currently provide information to traders is biased.
For example, this biased media can be seen when they cover the famous cryptocurrency Bitcoin Cash (BCH). Bitcoin Cash supporters will never comment something negative about the cryptocurrency. At the same time, those who are against Bitcoin Cash will talk negatively about BCH and the products around it.
Investors that are able to receive the first news can save important sums of money if they react to the headlines within minutes. For example, according to Cryptocurrency Newsfeed, those users that traded Bitcoin when the CFTC Subpoena against Tether (USDT) was announced, were able to save $500 dollars.
Furthermore, when Bittrex announced the listing of 0x (ZRX), the price of this cryptocurrency grew 35 per cent in just 15 minutes. In general, when an important cryptocurrency exchange lists a new virtual currency, it helps the price of a virtual currency to substantially increase.
The same happened when Aeternity was added to the Hyperpay Digital Wallet. The price of the AE token grew from $2.6 to $5.61 in just two days.
Those investors subscribed to unbiased, advertising-free and real-time news service can make a real difference for traders that want to profit from volatility in the crypto markets. Closely following news that provides valuable information could help traders find new ways to profit.