What are the Rules for Trading Bitcoin (Unveiling the Scam of Bitcoin Trading)
What are the rules for trading Bitcoin? According to CryptoGlobe, the price of
What are the rules for trading Bitcoin? According to CryptoGlobe, the price of Bitcoin recently broke $40,000, returning to around $40,000 after a three-month consolidation period. However, due to market uncertainty, lack of new funds entering and new projects emerging, many investors have started to wait and even close their positions. Therefore, speculative trading is not a sustainable method in the long run. So, how can one become a true investor? We can analyze the market through the following trading methods: firstly, focus on buying high and selling low. When Bitcoin consolidates for a period of time, a short-term surge will occur. Secondly, buy and sell in a bull market. Thirdly, profit can be easily obtained if there is a slight decline. This is a common investment strategy, and risk can be controlled by taking profits and setting stop-loss.
Unveiling the Scam of Bitcoin Trading
Editor’s note: This article is from Hive Finance News (ID: fengchao-caijing), author: JXkin, authorized reprint from Odaily Planet Daily.
Recently, a scam group named “Bitcoin” published an article on social media claiming to deceive Bitcoin investments through various means. The scam pretended to be a blockchain developer and promised to donate the money to charity for rewards. In this article, the journalist also sent a message to some users: “We received a picture, your wallet, and any coins I have.” However, this message was quickly deleted, “they just wanted you to send it out.” However, yesterday afternoon, many trading platforms announced the suspension of services, and even some exchanges announced the suspension of all withdrawal channels. “These are illegal activities conducted by criminals using this new type of fraud.”
In fact, mainstream financial websites have claimed that they can directly participate in investment projects involving virtual assets such as Bitcoin. For example, CEOs of well-known trading platforms such as Coinbase and Kraken have publicly stated that they will adopt a stricter attitude towards this emerging industry. In addition, many investors are investing in cryptocurrency-related products due to concerns about the security of their funds. These include Huobi Group’s global Huobi Station and OKEx.
With more and more traditional enterprises paying attention to the Bitcoin market, the price of Bitcoin soared at the beginning of this year, once breaking through the $30,000 mark and reaching a high point of $20,000 on June 18th before falling back. However, at the same time, some so-called experts predict that by 2020 or 2021, the industry’s growth potential will surpass that of 2017.
According to the “2018 China Internet Emergency Center Social Governance White Paper” published by the China Mobile Communications Federation Network Security Professional Committee, the construction of China’s Internet infrastructure has basically been completed. As of the end of 2019, the number of blockchain special applications registered by the Internet Information Office throughout the country has reached 24, and among the 5 newly launched pilot units, only 4 companies have been approved to become operational institutions within the pilot scope. Since early November 2018, the central bank and other departments have continuously increased the number of announcements to crack down on illegal activities such as virtual currency mining.
Recently, the Beijing Gold Exchange posted a risk reminder on their official website regarding the prevention of risks associated with the Ethereum 2.0 upgrade and ICO activities. They notified regulatory authorities and local taxation authorities to strengthen the high-pressure investigation of various types of virtual token issuance, financing, and speculation activities.
As for how individuals and organizations involved in this incident should respond, relevant departments are closely monitoring the situation and will actively cooperate with the police in the investigation to maintain normal economic operations, while also calling on everyone to be vigilant.
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